Common use of Release of Collateral and Guaranties Clause in Contracts

Release of Collateral and Guaranties. The parties hereto acknowledge and agree that, in accordance with §18.13 as soon as practicable following a sale or disposition of assets permitted in accordance with the terms of this Credit Agreement, including without limitation, §10.5.2, the Administrative Agent shall release its Liens on the Collateral subject to such sale or disposition and/or any Subsidiary of the Borrower which is the subject of such sale or disposition from its obligations under the Guaranty.

Release of Collateral and Guaranties. The parties hereto acknowledge and agree that, in accordance with §18.13 as soon as practicable following a sale or disposition of assets permitted in accordance with the terms of this Credit Agreement, including without limitation, §10.5.2, the Administrative Agent shall release its Liens on the Collateral subject to such sale or disposition and/or any Subsidiary of the Borrower which is the subject of such sale or disposition from its obligations under the Guaranty.

Release of Collateral and Guaranties. The parties hereto acknowledge and agree that, in accordance with §18.13 as soon as practicable following a such sale or disposition disposition, the Administrative Agent shall release its liens on the Collateral and/or any Subsidiary of assets permitted the Borrower from its obligations under the Guaranty if such Collateral and/or Subsidiary is sold or otherwise disposed of in accordance with the terms of this Credit Agreement, including without limitation, §10.5.2, the Administrative Agent shall release its Liens on the Collateral subject to such sale or disposition and/or any Subsidiary of the Borrower which is the subject of such sale or disposition from its obligations under the Guarantyss.11.5.2.