RELEASE OF BONDS. No bond required by the Contract Documents shall be deemed released without a written release from the Owner specifically granting such release.
RELEASE OF BONDS. The Agent will release the Bonds without any further action or consent by the Banks, and deliver, at the Company’s expense, such documents to the Company or the trustee under the Indenture as the Company may reasonably require to evidence such release, upon written request by the Company accompanied by a certificate of a Designated Officer certifying that (a) no Default or Event of Default exists prior to or after giving effect to such release and (b) at least two of the three then current ratings of the Company’s senior unsecured long-term debt (without third-party credit enhancement) are as follows: (i) Baa2 or higher in the case of Xxxxx’x, (ii) BBB or higher in the case of S&P and (iii) BBB or higher in the case of Fitch.
RELEASE OF BONDS. Upon the request of Sellers, Buyer shall assist Sellers in a commercially reasonable manner to release or cause the release or cancellation any bonds, letters of credit or guarantees posted by any Seller with Governmental Authorities and relating to the Purchased Assets. All such bonds, letters of credit or guarantees are set forth on Schedule 5.12.
RELEASE OF BONDS. The Agent will release the Bonds without any further action or consent by the Banks, and deliver, at the Company's expense, such documents to the Company or the trustee under the Indenture as the Company may reasonably require to evidence such release, upon written request by the Company accompanied by a certificate of a Designated Officer certifying that (a) no Default or Event of Default exists prior to or after giving effect to such release and (b) the then current ratings for the Company's senior unsecured long-term debt (without third-party credit enhancement) are Baa2 or higher in the case of Xxxxx'x and BBB or higher in the case of S&P.
RELEASE OF BONDS. The Surety Corporation providing the bonds for this project shall obtain a written release from the Owner prior to the expiration date of the bonds.
RELEASE OF BONDS. (a) The performance bond provided pursuant to the provisions of this agreement may be released by the County Grading Official upon completion and acceptance of the Work to be performed hereunder, in whole or in part; provided that a partial release shall not be in an amount less than 25% of the total estimated cost of the Work
RELEASE OF BONDS. Simultaneously with the receipt by the Bank of the proceeds of the sale of any Purchased Bonds in an amount equal to the principal amount of Purchased Bonds remarketed by the Remarketing Agent pursuant to the Remarketing Agreement, together with any interest accrued on account of the Bond Purchase Drawing-Principal or Bond Purchase Drawing-Interest, Purchased Bonds in the principal amount equal to the principal amount received by the Bank from said sale shall be released from the lien of this Agreement and shall be delivered to the Remarketing Agent, and such payment shall increase the amount payable under the Letter of Credit with respect to Bond Purchase Drawings-Principal and/or Bond Purchase Drawings-Interest.
RELEASE OF BONDS. Buyer shall have secured the release of Seller from any further liability or obligation with respect to the bonds listed on Exhibit J (the "Bonds") and shall have provided such substitute bonds or security as may be required by the bond holders as is necessary to secure the release of Seller and otherwise satisfy the requirements of the bond holders.
RELEASE OF BONDS. (a) After the Closing, the Buyer and the Seller shall cooperate to cause the Seller and its Affiliates (other than the Companies) to be fully released from all obligations under any Surety Bonds outstanding as of the Closing. The Buyer will not, and will not permit any of its Affiliates to, renew, extend, amend or supplement any Contract of either Company that is covered by such a Surety Bond in such a manner that would reasonably be expected to increase in any material respect (i) the risk of such Surety Bond being drawn upon, called or otherwise exercised or (ii) the backlog or duration (other than extensions of duration in the ordinary course of business) of such Contract, in each case, without the prior written consent of the Seller or providing the Seller with evidence reasonably satisfactory to it that such Surety Bond is not supported by any indemnity agreement, letter of credit or other security of, or other instrument imposing liability (contingent or otherwise) on, the Seller or its Affiliates.
