Common use of Release of Subsidiary Guarantor Clause in Contracts

Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its obligations under this Section 3.06 (other than any obligation that may have arisen under Section 3.07) (a) upon the sale or disposition of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a Person that is not the Company or a Restricted Subsidiary; provided that all of the obligations of the Subsidiary Guarantor, if any, under the USG Credit Agreement (or any successor facility) and related documentation terminate upon consummation of such transaction or (b) following the defeasance of the Securities in accordance with Section 10.1(b) of the Indenture to the extent that the obligations of the Company have been discharged thereby. At the written request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release.

Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its obligations under this Section 3.06 (other than any obligation that may have arisen under Section 3.07) (a) upon the sale or disposition of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a Person that is not the Company or a Restricted Subsidiary; provided that all of the obligations of the Subsidiary Guarantor, if any, under the USG Credit Agreement (or any successor facility) and related documentation terminate upon consummation of such transaction or (b) following the defeasance of the Securities in accordance with Section 10.1(b) of the Indenture to the extent that the obligations Obligations of the Company have been discharged thereby. At the written request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release.

Release of Subsidiary Guarantor. A Upon the occurrence of a sale or other disposition (including by way of consolidation or merger) of a Subsidiary Guarantor will be released from its obligations under this Section 3.06 (other than any obligation that may have arisen under Section 3.07) (a) upon or the sale or disposition of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all the assets of its assets such Subsidiary Guarantor (in each case other than by lease)) and whether or not the Subsidiary Guarantor is the surviving entity in such transaction to a Person that is not the Company or a Restricted Subsidiary; provided that all an Affiliate of the obligations of the Subsidiary Guarantor, if any, under the USG Credit Agreement (or any successor facilityCompany) pursuant to and related documentation terminate upon consummation of such transaction or (b) following the defeasance of the Securities in accordance with Section 10.1(b) the terms and provisions of this Indenture, such Subsidiary Guarantor shall be deemed released from all obligations under this Article XIV without any further action required on the part of the Indenture Trustee or any Holder; provided, however, that any such release will occur only to the extent that all obligations of such 124 Subsidiary Guarantor under the obligations Senior Credit Facility and all of its Guarantees of, and under all of its pledges of assets or other security interests which secure, any other Indebtedness of the Company have been discharged therebywill also terminate concurrently with such release. At the written request of the CompanyCompany and upon receipt of an Officers' Certificate, the Trustee shall execute and deliver an appropriate instrument evidencing such release.. 125

Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its obligations under this Section 3.06 (other than If at any obligation that may have arisen under Section 3.07) time (a) upon the sale or disposition of (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the Equity Interests of the Subsidiary Guarantor is the surviving entity in such transaction are sold, transferred or otherwise disposed of to a Person that is not other than the Company or a Restricted Subsidiary; provided that all of the obligations of the Subsidiary Guarantor, if any, under the USG Credit Agreement (or any successor facility) and related documentation terminate upon consummation of such transaction its Subsidiaries or (b) following the defeasance Subsidiary Guarantor ceases to be (or substantially simultaneously with its release as a Subsidiary Guarantor hereunder will cease to be) a guarantor of Material Indebtedness of the Securities Company, then in accordance with Section 10.1(b) of each case the Indenture to the extent that the obligations Subsidiary Guarantor shall be automatically released from its Guaranty in respect of the Company have been discharged therebyGuaranteed Obligations and all of its obligations under this Agreement and the other Loan Documents to which it is a party, and thereafter such Person shall no longer constitute a Subsidiary Guarantor under the Loan Documents. At the written request of the Company, the Trustee shall Agents shall, at the Company’s expense, execute and deliver an appropriate instrument evidencing such releasedocuments as are necessary to acknowledge any such release in accordance with this Section 8.

Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its obligations under this Section 3.06 (other than any obligation that may have arisen under Section 3.07) (a) upon the sale or disposition of such Subsidiary Guarantor (whether by merger, consolidation, the sale of its capital stock or the sale of all or substantially all of its assets (other than by lease)) and whether or not the such Subsidiary Guarantor is the surviving entity in such transaction to a Person that is not the Company or a Restricted Subsidiary; Subsidiary; provided that all of the obligations of the such Subsidiary Guarantor, if any, under the USG Credit Agreement (or any successor facility) and related documentation terminate upon consummation of such transaction or (b) following the defeasance of the Securities in accordance with Section 10.1(b) of the Indenture to the extent that the obligations of the Company have been discharged thereby. At the written request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release.