Common use of Permitted Asset Dispositions; Release of Collateral Clause in Contracts

Permitted Asset Dispositions; Release of Collateral. After consummation of a Permitted Asset Disposition, all Liens with respect to the disposed property created in favor of the Trustee for the benefit of the Secured Parties under the Base Indenture and the other Related Documents shall be automatically released, and upon request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer any and all documentation reasonably requested and prepared by the Master Issuer at the Master Issuer’s expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 2 contracts

Samples: Contribution Agreement (Planet Fitness, Inc.), Fitness Equipment Distribution Agreement (Planet Fitness, Inc.)

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Permitted Asset Dispositions; Release of Collateral. After the consummation of a any Permitted Asset Disposition, all Liens with respect to the disposed such property created in favor of the Trustee for the benefit of the Secured Parties under the this Base Indenture and the other Related Transaction Documents shall be automatically released, and and, upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer Securitization Entities any and all documentation reasonably requested and prepared by the Master Issuer Securitization Entities at the Master Issuer’s their expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 2 contracts

Samples: Base Indenture Definitions List (Yum Brands Inc), Yum Brands Inc

Permitted Asset Dispositions; Release of Collateral. After Upon consummation of a Permitted Asset Disposition, all Liens with respect to the disposed property created in favor of the Trustee for the benefit of the Secured Parties under the this Base Indenture and the other Related Documents shall be automatically released, and upon request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer any and all documentation reasonably requested and prepared by the Master Issuer at the Master Issuer’s expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.. 126

Appears in 1 contract

Samples: Jack in the Box Inc /New/

Permitted Asset Dispositions; Release of Collateral. After the consummation of a any Permitted Asset Disposition, all Liens with respect to the disposed such property created in favor of the Trustee for the benefit of the Secured Parties under the this Base Indenture and the other Related Transaction Documents shall be automatically released, and and, upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer Securitization Entities any and all documentation reasonably requested and prepared by the Master Issuer Securitization Entities at the Master Issuer’s their expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 1 contract

Samples: Indenture (Jay Merger Sub, Inc.)

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Permitted Asset Dispositions; Release of Collateral. After the consummation of a any Permitted Asset Disposition, all Liens with respect to the disposed such property created in favor of the Trustee for the benefit of the Secured Parties under the this Base Indenture and the other Related Transaction Documents shall be automatically released, and and, upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer Securitization Entities any and all documentation reasonably requested and prepared by the Master Issuer Securitization 121 Entities at the Master Issuer’s their expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 1 contract

Samples: Wingstop Inc.

Permitted Asset Dispositions; Release of Collateral. After consummation of a Permitted Asset Disposition, all Liens with respect to the disposed property created in favor of the Trustee for the benefit of the Secured Parties under the Base Indenture and the other Related Documents shall be automatically released, and upon request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Master Issuer any and all documentation reasonably requested and prepared by the Master Issuer at the Master Issuer’s expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.. Section 14.18

Appears in 1 contract

Samples: Planet Fitness, Inc.

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