Common use of Release Documentation Clause in Contracts

Release Documentation. On or prior to the Closing Date, Remainco shall provide to Merger Partner guarantee and lien release documentation as may be necessary or advisable to release the members of the Spinco Group as borrowers or guarantors, as applicable, under any existing indebtedness for borrowed money of Remainco and its Subsidiaries and the release and termination of any and all Encumbrances granted in connection with such indebtedness, on the Spinco Assets, in each case, in form and substance reasonably satisfactory to Merger Partner (collectively, the “Lien and Guarantee Release”); provided that Remainco shall provide drafts of such Lien and Guarantee Release documentation at least ten (10) Business Days prior to the Closing Date.