Common use of Trust Indenture Act Requirements Clause in Contracts

Trust Indenture Act Requirements. (a) The release of any Collateral from the Second Priority Lien of any of the Collateral Documents or the release of, in whole or in part, the Second Priority Liens created by any of the Collateral Documents, shall not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Second Priority Liens are released in accordance with the terms hereof or of the Intercreditor Agreement. Each of the Holders of the Securities acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Collateral Documents, the Intercreditor Agreement and this Indenture will not be deemed for any purpose to be an impairment of the Collateral Documents or otherwise contrary to the terms of this Indenture. To the extent applicable, the Company and the Guarantors shall cause TIA § 313(b), relating to reports, and TIA § 314(d), relating to the release of property or securities from the Lien and security interest of the Collateral Documents and relating to the substitution therefor of any property or securities to be subjected to the Lien and security interest of the Collateral Documents, to be complied with. Any certificate or opinion required by TIA § 314(d) may be made by an Officer of the Company or the relevant Guarantor except in cases where TIA § 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or approved by the Trustee in the exercise of reasonable care. In the event Collateral which is cash, accounts receivable or inventory (“Working Capital Collateral”) are disposed of in the ordinary course of business by the Company or any Guarantor pursuant to and in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents and the associated Lien on such Working Capital Collateral is released in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents then, so long as the Company and the Guarantors have furnished the Trustee all certificates described in Section 13.06(c) that were required to be furnished to the Trustee at or prior to such time, the fair value of such Working Capital Collateral released from the Lien and security interest of the Collateral Documents shall not be considered in determining whether the aggregate fair value of Collateral released from the Lien and security interest of the Collateral Documents in any calendar year exceeds the 10% threshold specified in TIA § 314(d)(1), and the Company 2012 Notes Indenture and the Guarantors need not deliver an Officer’s Certificate (other than as required by Section 13.06(c)) in connection with any such releases of Liens and security interest of the Collateral Documents on such Working Capital Collateral.

Trust Indenture Act Requirements. (a) The release of any Collateral from the Second Priority Lien of any of the Collateral Documents or the release of, in whole or in part, the Second Priority Liens created by any of the Collateral Documents, shall not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Second Priority Liens are released in accordance with the terms hereof or of the Intercreditor Agreement. Each of the Holders of the Securities acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Collateral Documents, the Intercreditor Agreement and this Indenture will not be deemed for any purpose to be an impairment of the Collateral Documents or otherwise contrary to the terms of this Indenture. To the extent applicable, the Company and the Guarantors shall cause TIA § Section 313(b), relating to reports, and TIA § Section 314(d), relating to the release of property or securities from the Lien and security interest of the Collateral Documents and relating to the substitution therefor of any property or securities to be subjected to the Lien and security interest of the Collateral Documents, to be complied with. Any certificate or opinion required by TIA § Section 314(d) may be made by an Officer of the Company or the relevant Guarantor except in cases where TIA § Section 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or approved by the Trustee in the exercise of reasonable care. In the event Collateral which is cash, accounts receivable or inventory (“"Working Capital Collateral”") are disposed of in the ordinary course of business by the Company or any Guarantor pursuant to and in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents and the associated Lien on such Working Capital Collateral is released in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents then, so long as the Company and the Guarantors have furnished the Trustee all certificates described in Section 13.06(c) that were required to be furnished to the Trustee at or prior to such time, the fair value of such Working Capital Collateral released from the Lien and security interest of the Collateral Documents shall not be considered in determining whether the aggregate fair value of Collateral released from the Lien and security interest of the Collateral Documents in any calendar year exceeds the 10% threshold specified in TIA § Section 314(d)(1), and the Company 2012 Notes Indenture and the Guarantors need not deliver an Officer’s 's Certificate (other than as required by Section 13.06(c)) in connection with any such releases of Liens and security interest of the Collateral Documents on such Working Capital Collateral.

Trust Indenture Act Requirements. (a) The release of any Collateral from the Second First Priority Lien of any of the Collateral Documents or the release of, in whole or in part, the Second First Priority Liens created by any of the Collateral Documents, shall not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Second First Priority Liens are released in accordance with the terms hereof or of the Intercreditor Agreement. 2010 Notes Indenture Each of the Holders of the Securities acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Collateral Documents, the Intercreditor Agreement and this Indenture will not be deemed for any purpose to be an impairment of the Collateral Documents or otherwise contrary to the terms of this Indenture. To the extent applicable, the Company and the Guarantors shall cause TIA § 313(b), relating to reports, and TIA § 314(d), relating to the release of property or securities from the Lien and security interest of the Collateral Documents and relating to the substitution therefor of any property or securities to be subjected to the Lien and security interest of the Collateral Documents, to be complied with. Any certificate or opinion required by TIA § 314(d) may be made by an Officer of the Company or the relevant Guarantor except in cases where TIA § 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or approved by the Trustee in the exercise of reasonable care. In the event Collateral which is cash, accounts receivable or inventory (“Working Capital Collateral”) are disposed of in the ordinary course of business by the Company or any Guarantor pursuant to and in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents and the associated Lien on such Working Capital Collateral is released in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents then, so long as the Company and the Guarantors have furnished the Trustee all certificates described in Section 13.06(c) that were required to be furnished to the Trustee at or prior to such time, the fair value of such Working Capital Collateral released from the Lien and security interest of the Collateral Documents shall not be considered in determining whether the aggregate fair value of Collateral released from the Lien and security interest of the Collateral Documents in any calendar year exceeds the 10% threshold specified in TIA § 314(d)(1), and the Company 2012 Notes Indenture and the Guarantors need not deliver an Officer’s Certificate (other than as required by Section 13.06(c)) in connection with any such releases of Liens and security interest of the Collateral Documents on such Working Capital Collateral.

Trust Indenture Act Requirements. (a) The release of any Collateral from the Second Priority Lien of any of the Collateral Documents or the release of, in whole or in part, the Second Priority Liens created by any of the Collateral Documents, shall not be deemed to impair the security interests in contravention of the provisions hereof if and to the extent the Collateral or Second Priority Liens are released in accordance with the terms hereof or of the Intercreditor Agreement. Each of the Holders of the Securities Notes acknowledge that a release of Collateral or Liens strictly in accordance with the terms of the Collateral Documents, the Intercreditor Agreement and this Indenture will not be deemed for any purpose to be an impairment of the Collateral Documents or otherwise contrary to the terms of this Indenture. To the extent applicable, the Company Issuers and the Guarantors shall cause TIA § 313(b), relating to reports, and TIA § 314(d), relating to the release of property or securities from the Lien and security interest of the Collateral Documents and relating to the substitution therefor of any property or securities to be subjected to the Lien and security interest of the Collateral Documents, to be complied with. Any certificate or opinion required by TIA § 314(d) may be made by an Officer of the Company Issuers or the relevant Guarantor except in cases where TIA § 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or approved by the Trustee in the exercise of reasonable care. In the event the Collateral which is cash, accounts receivable or inventory (“Working Capital Collateral”) are disposed of in the ordinary course of business by the Company Issuers or any Guarantor pursuant to and in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents and the associated Lien on such Working Capital Collateral is released in accordance with this Indenture, the Intercreditor Agreement and the Collateral Documents then, so long as the Company Issuers and the Guarantors have furnished the Trustee all certificates described in Section 13.06(c12.06(c) that were required to be furnished to the Trustee at or prior to such time, the fair value of such Working Capital Collateral released from the Lien and security interest of the Collateral Documents shall not be considered in determining whether the aggregate fair value of Collateral released from the Lien and security interest of the Collateral Documents in any calendar year exceeds the 10% threshold specified in TIA § 314(d)(1), and the Company 2012 Notes Indenture Issuers and the Guarantors need not deliver an Officer’s Certificate (other than as required by Section 13.06(c12.06(d)) in connection with any such releases of Liens and security interest of the Collateral Documents on such Working Capital Collateral.