Common use of Release of the Subsidiary Guarantee Clause in Contracts

Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate shall not be considered in calculating the amount of indebtedness hereunder). Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 in the aggregate, or the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities.

Appears in 3 contracts

Samples: Indenture (Newmont Mining Corp /De/), Newmont Mining Corp /De/, Newmont Mining Corp /De/

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Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations Obligations under this Indenture and its the Subsidiary Guarantee, and its the Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the SecuritiesNotes, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty guarantee any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate shall not be considered in calculating the amount of indebtedness hereunder). Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 in the aggregate, or the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations Obligations under this Indenture and its the Subsidiary Guarantee, and its the Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the SecuritiesNotes.

Appears in 3 contracts

Samples: Indenture (NEWMONT Corp /DE/), Indenture, Indenture (Newmont Goldcorp Corp /De/)

Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations Obligations under this Indenture and its the Subsidiary Guarantee, and its the Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the SecuritiesNotes, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than indebtedness not exceeding $75,000,000 75.0 million in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty guarantee any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 75.0 million or more in the aggregate shall not be considered in calculating the amount of indebtedness hereunder). Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 75.0 million in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 75.0 million in the aggregate, or the Company’s indebtedness in excess of $75,000,000 75.0 million in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations Obligations under this Indenture and its the Subsidiary Guarantee, and its the Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the SecuritiesNotes.

Appears in 1 contract

Samples: Indenture (NEWMONT Corp /DE/)

Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate shall not be considered in calculating the amount of indebtedness hereunder). Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 in the aggregate, or the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities.Securities 44

Appears in 1 contract

Samples: Newmont Mining Corp /De/

Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and Indenture, its Subsidiary GuaranteeGuarantee and the Registration Rights Agreement, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than (i) indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate (including, for clarity, the 2014 Securities) shall not be considered in calculating the amount of indebtedness hereunderunder this clause (i)) and (ii) indebtedness under the Securities and the 2014 Securities. Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 75 million in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 75 million in the aggregate, or the Company’s indebtedness in excess of $75,000,000 75 million in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and Indenture, its Subsidiary GuaranteeGuarantee and the Registration Rights Agreement, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities.

Appears in 1 contract

Samples: Newmont Mining Corp /De/

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Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and Indenture, its Subsidiary GuaranteeGuarantee and the Registration Rights Agreement, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than (i) indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate (including, for clarity, the 2017 Securities) shall not be considered in calculating the amount of indebtedness hereunderunder this clause (i)) and (ii) indebtedness under the Securities and the 2017 Securities. Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 75 million in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 75 million in the aggregate, or the Company’s indebtedness in excess of $75,000,000 75 million in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and Indenture, its Subsidiary GuaranteeGuarantee and the Registration Rights Agreement, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities.

Appears in 1 contract

Samples: Newmont Mining Corp /De/

Release of the Subsidiary Guarantee. The Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities, upon such time as the Subsidiary Guarantor ceases to guarantee the indebtedness of the Company other than indebtedness not exceeding $75,000,000 in the aggregate (it being understood that indebtedness of the Company that is guaranteed by the Subsidiary Guarantor and that also provides that the guarantee of the Subsidiary Guarantor under such indebtedness shall be released and relieved upon such time as the Subsidiary Guarantor ceases to guaranty any of the Company’s indebtedness other than indebtedness not exceeding $75,000,000 or more in the aggregate shall not be considered in calculating the amount of indebtedness 44 hereunder). Accordingly, if the lenders under the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor agree to release the Subsidiary Guarantor from its guarantee of such indebtedness in excess of $75,000,000 in the aggregate, or the Company’s indebtedness in excess of $75,000,000 in the aggregate that is guaranteed by the Subsidiary Guarantor is repaid in full, the Subsidiary Guarantor will be deemed released from all of its obligations under this Indenture and its Subsidiary Guarantee, and its Subsidiary Guarantee will terminate, without any action required on the part of the Trustee or any Holder of the Securities.

Appears in 1 contract

Samples: Newmont Mining Corp /De/

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