Release of Subsidiary Guarantees. Notwithstanding the provisions of Section 1302, Subsidiary Guarantees will be subject to termination and discharge under the circumstances described in this Section 1303: Any Subsidiary Guarantor will automatically and unconditionally be released from all obligations under its Subsidiary Guarantee, and such Subsidiary Guarantee shall thereupon terminate and be discharged and of no further force or effect, (i) concurrently with any sale or disposition (by merger or otherwise) of any Subsidiary Guarantor or any interest therein in accordance with the terms of this Indenture (including Section 411 and Section 501) by the Company or a Restricted Subsidiary, following which such Subsidiary Guarantor is no longer a Restricted Subsidiary of the Company, (ii) at any time that such Subsidiary Guarantor is released from all of its obligations under all of its Guarantees of payment by the Company of any Bank Indebtedness of the Company (other than by reason of payment under such Guarantees of Bank Indebtedness), (iii) upon the merger or consolidation of any Subsidiary Guarantor with and into the Company or another Subsidiary Guarantor that is the surviving Person in such merger or consolidation, (iv) concurrently with any Subsidiary Guarantor becoming an Unrestricted Subsidiary, (v) upon legal or covenant defeasance of the Company’s obligations, or satisfaction and discharge of this Indenture, or (vi) subject to Section 1302(b), upon payment in full of the aggregate principal amount of all Notes then Outstanding and all other Subsidiary Guaranteed Obligations then due and owing. In addition, the Company will have the right, upon 30 days’ notice to the Trustee, to cause any Subsidiary Guarantor that has not guaranteed payment by the Company of any Bank Indebtedness of the Company to be unconditionally released from all obligations under its Subsidiary Guarantee, and such Subsidiary Guarantee shall thereupon terminate and be discharged and of no further force or effect. Upon any such occurrence specified in this paragraph, the Trustee shall execute any documents reasonably required in order to evidence such release, discharge and termination in respect of such Subsidiary Guarantee. Upon any such occurrence specified in this Section 1303, the Trustee shall execute any documents reasonably required in order to evidence such release, discharge and termination in respect of the applicable Subsidiary Guarantee.
Release of Subsidiary Guarantees. A Subsidiary Guarantee by a Subsidiary Guarantor shall be automatically and unconditionally released and discharged, and no further action by such Subsidiary Guarantor, the Company or the Trustee is required for the release of such Subsidiary Guarantor’s Subsidiary Guarantee, upon:
Release of Subsidiary Guarantees. A Subsidiary Guarantor’s Guarantee (and any Subsidiary Guarantee provided pursuant to Section 4.15) shall be automatically and unconditionally released and the Subsidiary Guarantor that granted such Subsidiary Guarantee shall be automatically and unconditionally released from its obligations and liabilities thereunder and hereunder:
Release of Subsidiary Guarantees. Notwithstanding the provisions of Section 10.02, Subsidiary Guarantees shall be subject to termination and discharge under the circumstances described in this Section 10.03. Any Subsidiary Guarantor shall automatically and unconditionally be released from all obligations under its Subsidiary Guarantee, and such Subsidiary Guarantee shall thereupon terminate and be discharged and of no further force or effect:
Release of Subsidiary Guarantees. If the Company exercises its legal defeasance option or its covenant defeasance option pursuant to this Article 6 and Article 8 of the Original Indenture, each Subsidiary Guarantor, if any, shall be released from all its obligations with respect to its Subsidiary Guarantee.
Release of Subsidiary Guarantees. Concurrently with the defeasance of the Notes under Section 8.02 hereof, the Subsidiary Guarantors shall be released from all of their obligations under the Subsidiary Guarantees and this Article 10.
Release of Subsidiary Guarantees. Upon the sale or disposition of a Subsidiary Guarantor (or substantially all of its assets) pursuant to and in compliance with the terms of this Note and the Indenture, such Subsidiary Guarantor will be released from and relieved of its obligations under its Subsidiary Guarantee. Such release shall be conditional upon the delivery to the Holders of an Officers' Certificate and an Opinion of Counsel, each stating that such release of the Subsidiary Guarantee complies with the provisions of this Note and the Indenture and that all conditions precedent to such release of the Subsidiary Guarantee have been complied with.
Release of Subsidiary Guarantees. The Lenders, the Swingline Lenders and the Issuing Lenders irrevocably authorize the Administrative Agent to, and the Administrative Agent hereby agrees with the Obligors that the Administrative Agent shall, release any Subsidiary Guarantor (other than (i) Xxxxx XX following its Guarantee, if any, of the Company Obligations pursuant to Section 5.08(b), and (ii) Praxair, Inc.) from its obligations under the Guarantee of the Company Obligations upon the delivery by the Company of an Election to Terminate a Subsidiary Guarantee to the Administrative Agent. The delivery of an Election to Terminate a Subsidiary Guarantee shall not affect any obligation of a Subsidiary Borrower theretofore incurred pursuant to Article 2, the Company’s guaranty thereof pursuant to Article 10 or any other Subsidiary Guarantor’s guaranty pursuant to Article 10. The Administrative Agent shall promptly give notice to the Lenders of the receipt of any Election to Terminate a Subsidiary Guarantee.
Release of Subsidiary Guarantees. Administrative Agent and the Lenders hereby direct Administrative Agent to release, in the case of a sale, conveyance or other disposition of all of the Capital Stock of a Domestic Subsidiary owned by Company or any of its Subsidiaries to the extent such sale, conveyance, transfer, liquidation or other disposition is permitted hereby (or permitted pursuant to a waiver or consent of a transaction otherwise prohibited hereby), to release the affected Subsidiary from its Subsidiary Guaranty), provided, however, that Administrative Agent shall not be required to execute any such document on terms which, in its opinion, would expose it to liability or create any obligation or entail any consequence other than the release of such Subsidiary Guaranty.
Release of Subsidiary Guarantees. Each Guarantor agrees, and each Holder by accepting a Note agrees, that the provisions of this Section 10.03 are for the benefit of and enforceable by the holders of Senior Debt of such Guarantor. A Guarantee (and any Guarantee provided pursuant to Section 4.15) shall be automatically and unconditionally released and the Guarantor that granted such Guarantee shall be automatically and unconditionally released from its obligations and liabilities thereunder and hereunder:
