Guarantee Release Sample Clauses
Guarantee Release. Each Lender irrevocably authorizes the Administrative Agent to release any Guarantor from its obligations under the Guarantee Agreement if such Person (x) ceases to be a Wholly Owned Domestic Restricted Subsidiary as a result of a transaction permitted hereunder or (y) is validly designated as an Immaterial Subsidiary. In each case as specified in this Section 9.17, the Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to release such Guarantor from its obligations under the Guarantee Agreement, in each case in accordance with the terms of the Loan Documents and this Section 9.17. In each case as specified in this Section 9.17, the Administrative Agent will, at the Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to release such Guarantor from its obligations under the Guarantee, in each case in accordance with the terms of the Loan Documents and this Section 9.17.
Guarantee Release. (a) A new Sections 6.13(c) and (d) shall be added to Article VI of the SAPA as follows:
Guarantee Release a release and discharge granted in favour of Al Waha Capital PJSC (the “Existing Guarantor”) in respect of Existing Guarantor’s obligations under a guarantee granted in favour of Lessee in relation to Existing Lessor’s obligation under the Existing Lease;
Guarantee Release. 5.5.1 As soon as reasonably practicable after the date hereof, D▇▇▇▇▇ and the Buyer undertake to obtain written consent from the beneficiaries of D▇▇▇▇▇’s guarantee obligations set forth in Appendix 10 (the “Guarantee Obligations”) such that the Buyer assumes the Guarantee Obligations on the Closing Date. Such assumption of the Guarantee Obligations shall result in the full release and discharge of Doliam from any and all liabilities under the Guarantee Obligations, effective on the Closing Date.
5.5.2 In the event that the Buyer and D▇▇▇▇▇ are unable to obtain consent under Article 5.5.1, the Buyer shall provide Doliam with a back-to-back guarantee pursuant to which the Buyer shall unconditionally and irrevocably guarantee the performance of the Company’s obligations to the same extent as Doliam under the Guarantee Obligations until Doliam is fully released from its Guarantee Obligations, such that if Doliam is required to make any payment under the Guarantee Obligations due to a default by the Company, the Buyer shall indemnify Doliam by promptly reimbursing Doliam for the full amount of such payment.
Guarantee Release. The Agent and the Lenders (i) hereby consent to Repadre Capital (BVI) Inc. ceasing to be a Material Subsidiary, and (ii) notwithstanding Section 3.1 of the Credit Agreement, hereby release and discharge Repadre Capital (BVI) Inc. from all undertakings, liabilities and obligations under its Guarantee (including, for greater certainty, the guarantee agreement (Province of Ontario) dated as of January 28, 2016 by Repadre Capital (BVI) Inc. in favour of the Agent), and agree that such guarantee agreement is hereby terminated and of no further force and effect.
Guarantee Release