Release of Escrowed Property. Upon the satisfaction of the Escrow Conditions, the Escrow Agent will cause the liquidation of all Escrowed Property then held by it and cause the release of the proceeds of such liquidated Escrowed Property to or on the order of the Issuer on the Escrow Release Date in accordance with the terms of the Escrow Agreement.
Release of Escrowed Property. The Escrow Agreement provides that subject to the terms and conditions set forth therein, the Escrow Agent will liquidate all Escrowed Property then held by it and cause the release of the proceeds of such liquidated Escrowed Property to the Company or to such other Person as the Company directs in accordance with the terms of the Escrow Agreement.
Release of Escrowed Property. (a) If at any time on or prior to the Conditions Precedent Date, the Escrow Agent receives a Release Request from the Issuer that includes the following (i) as of the Release Date, no Event of Default under the Indenture has occurred and is continuing; (ii) the Company has received approval from the applicable gaming authorities for the offering of the Securities; (iii) the CEOC Assumption has been consummated; and (iv) concurrently with the release of the Escrowed Property to the Company (the “Release”): (A) the Assumption Documents will have been executed and delivered by all parties thereto; (B) the Escrow Funds will be used to pay the fees and expenses related to the issuance and sale of the Securities (including the Deferred Discount (as defined in the Purchase Agreement) and the out of pocket expenses of the Initial Purchasers payable by the Issuers pursuant to the terms of the Purchase Agreement, if any), as set forth in a written direction to the Escrow Agent substantially as set forth in Annex I, the Escrow Agent will release all Escrowed Property then held by it to or for the account of the Issuer, upon presentation of a Release Request no later than 3 p.m. Eastern on the business day prior to such Release.
Release of Escrowed Property. (a) If at any time prior to the occurrence of a Special Mandatory Redemption Event, the Escrow Agent receives a Release Request from the Escrow Issuer, no later than 1 p.m. Eastern Time two Business Days prior to the release date (which shall be a Business Day) specified in such Release Request, the Escrow Agent will release the Escrowed Property then held by it to or for the account or at the direction of the Escrow Issuer, in each case in an amount and pursuant to the written direction to the Escrow Agent as set forth in such Release Request.
Release of Escrowed Property. Upon delivery of the Escrow Release Request, the Escrow Agreement provides that the Escrow Agent shall cause the release of the proceeds of such Escrowed Property to or on the order of the Issuer on the Escrow Release Date in accordance with the terms of the Escrow Agreement.
Release of Escrowed Property. The Issuers shall only be entitled to direct the Escrow Agent to release Escrowed Property (in which case the Escrowed Property will be paid to or as directed by the Issuers) (the “Release”) upon delivery to the Escrow Agent, on or prior to the Escrow End Date, of an Officer’s Certificate certifying that the following conditions have been or substantially concurrently with the release of the Escrowed Property will be satisfied (the date of such release, the “Escrow Release Date”):
Release of Escrowed Property. (a) If at any time on or prior to the Conditions Precedent Date, the Escrow Agent receives a Release Request from the Issuer that includes the following (i) as of the Release Date, no Event of Default under the Indenture has occurred and is continuing; (ii) the Bank Amendment has been fully executed and delivered; (iii) the Company has received approval from the applicable gaming authorities for the offering of the Securities and the Bank Amendment; (iv) the CEOC Assumption has been consummated; and (iv) concurrently with the release of the Escrowed Property to the Company (the “Release”): (A) the Assumption Documents will have been executed and delivered by all parties thereto; (B) the Escrow Funds will be used to repay a portion of the outstanding borrowings under the Senior Secured Credit Facilities, pay the fees and expenses related to the issuance and sale of the Securities (including the Deferred Discount (as defined in the Purchase Agreement) and the out of pocket expenses of the Initial Purchasers payable by the Issuers pursuant to the terms of the Purchase Agreement) and for other general corporate purposes as set forth in a written direction to the Escrow Agent substantially as set forth in Annex I contemplated in the Offering Memorandum, the Escrow Agent will release all Escrowed Property then held by it to or for the account of the Issuer, upon presentation of a Release Request no later than 3 p.m. Eastern on the business day prior to such Release.
Release of Escrowed Property. (a) If at any time on or prior to the Delta Acquisition Deadline, the Borrower delivers to the Escrow Agent and the Administrative Agent a written request substantially in the form set forth in Annex I hereto (a “Release Request”) certifying that, prior to or concurrently with the release of the Escrowed Property from the Escrow Account (the “Release”) the Delta Acquisition Escrow Conditions shall have been satisfied, the Escrow Agent shall release all of the Escrowed Property held by it in the Escrow Account to or as directed by the Borrower (the date of such release, the “Delta Escrow Release Date”), by wire transfer of immediately available funds in accordance with the instructions set forth in the Release Request no later than 12:00 p.m. (New York City time) on the Business Day immediately following the date such Release Request is delivered.
Release of Escrowed Property. Upon the satisfaction of the Escrow Release Conditions on or prior to the Escrow Release Date as provided in the Escrow Agreement, the Escrowed Property will be released in accordance with the Escrow Agreement and upon such release, the Notes shall no longer be subject to mandatory redemption pursuant to Section 3.09 hereof.
Release of Escrowed Property. The Escrowed Property will be released in accordance with the terms of the Escrow Agreement.
