Common use of Termination of RKT Guarantee Clause in Contracts

Termination of RKT Guarantee. The RKT Guarantee shall be automatically released and shall terminate (i) if RKT ceases to be or, upon giving effect to any substantially concurrent transaction or transactions, shall cease to be the issuer or guarantor of any Capital Markets Debt (other than, before giving effect to the release contemplated by this Section 1.05, the Securities) or (ii) upon the termination of MWV’s guarantee of WestRock’s obligations under the Bank Credit Facilities. For purposes of this Section 1.05, “Capital Markets Debt” means any debt for borrowed money that (a) is in the form of, or represented by, bonds, notes, debentures or other securities (other than promissory notes or similar evidences of debt under a credit agreement) and (b) has an aggregate principal amount outstanding of at least $25.0 million. Further, for purposes of this Section 1.05, “Bank Credit Facilities” means: (a) the Credit Agreement, dated July 1, 2015, among WestRock, RockTenn Company of Canada Holdings Corp./Compagnie de Holdings RockTenn du Canada, a Nova Scotia unlimited company (“RockTenn Canada”), as Canadian borrower, the other borrowers from time to time party thereto, the Company and RKT as guarantors and the other guarantors from time to time party thereto, Xxxxx Fargo Bank, National Association (“WF”), as administrative agent, and Xxxxx Fargo, National Association, London branch, as multicurrency agent; and (b) any amendments, renewals, refundings, refinancings, extensions, modifications or replacements with respect to any of the foregoing. At the request of the Company, the Trustee will execute and deliver any documents, instructions or instruments evidencing any such release.