Common use of Discharge of Guaranty Upon Sale of Guarantor Clause in Contracts

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale; provided that, as a condition precedent to such discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party of the applicable Net Asset Sale Proceeds if required under the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of Company.

Discharge of Guaranty Upon Sale of Guarantor. If all of -------------------------------------------- the stock or -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale; provided that, as a condition precedent to such -------- discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party of the applicable Net Asset Sale Proceeds if required under the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of CompanyProceeds.

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale; provided that, as a condition precedent to such discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party of the applicable Net Asset Sale Proceeds if required under the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a ---------------- merger or consolidation of such entity into or with Company or another subsidiary of Company.

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale; provided that, as a condition precedent to such discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party of the applicable Net Asset Sale Proceeds if required under the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of Company.

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or -------------------------------------------- limited liability company interests of --------------------------------------------- any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale asset sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Saleasset sale; provided that, as a -------- condition precedent to such discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party disposition of the applicable Net Asset Sale Proceeds if required under in accordance with the requirements of the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of Company.

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or of -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in an Asset Sale not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Lenders, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale; provided that, as a -------- condition precedent to such discharge and -------- release, Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to Guarantied Party of the applicable Net Asset Sale Proceeds if required under the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of CompanyProceeds.

Discharge of Guaranty Upon Sale of Guarantor. If all of the stock or of a -------------------------------------------- limited liability company interests of any Guarantor or any of its successors in interest under this Guaranty shall be sold or otherwise disposed of (including by merger or consolidation) in any sale or other disposition to a Person (other than a Subsidiary or an Asset Sale Affiliate of the Borrower) not prohibited by subsection 7.7 of the Credit Agreement or otherwise consented to by Requisite Required Lenders, the Guaranty obligations of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Salesale; provided that, if the sale of such stock constitutes a disposition of assets as a condition precedent to such discharge and -------- release, the Guarantied Party shall have received evidence satisfactory to it that arrangements satisfactory to it have been made for delivery to the Guarantied Party of the applicable Net Asset Sale Cash Proceeds (if any) as required under by the Credit Agreement; provided further that no such delivery shall be required in ---------------- connection with a merger or consolidation of such entity into or with Company or another subsidiary of Company.