Common use of Guaranty Release Clause in Contracts

Guaranty Release. The Company has notified the Administrative Agent that neither Teledyne Scientific & Imaging, LLC, a Delaware limited liability company, nor Teledyne ▇▇▇▇▇▇, Inc., a Delaware corporation (each, a “Released Guarantor”), constitutes a Material Subsidiary and has requested that each of the Administrative Agent and the Lenders agree to release such entities as Guarantors. The Administrative Agent and each Lender hereby agree to release each Released Guarantor from its obligations as a Guarantor under the Guaranty and the other Loan Documents, such release to be effective as of the date after the Closing Date that the Company shall have delivered a certificate, signed by a Responsible Officer of the Company, to the Administrative Agent referencing this Section and confirming the election of the Company to release each Released Guarantor from its obligations as a Guarantor under the Guaranty. Immediately upon delivery of such certificate from the Company to the Administrative Agent after the Closing Date, neither Released Guarantor shall be a Guarantor under the Loan Documents.”

Guaranty Release. The Company has notified the Administrative Agent that neither Teledyne Scientific & Imaging, LLC, a Delaware limited liability company, nor Teledyne ▇▇▇▇▇▇, Inc., a Delaware corporation (each, a “Released Guarantor”), constitutes a Material Subsidiary and has requested that each of the Administrative Agent and the Lenders agree to release such entities as Guarantors. The Administrative Agent and each Lender hereby agree to release each Released Guarantor from its obligations as a Guarantor under the Guaranty and the other Loan Documents, such release to be effective as of the date after the Closing Date that the Company shall have delivered a certificate, signed by a Responsible Officer of the Company, to the Administrative Agent referencing this Section and confirming the election of the Company to release each Released Guarantor from its obligations as a Guarantor under the Guaranty. Immediately upon delivery of such certificate from the Company to the Administrative Agent after the Closing Date, neither Released Guarantor shall be a Guarantor under the Loan Documents.”