Collateral Release Period definition

Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

Collateral Release Period means the period beginning on any Collateral Release Date and ending with any subsequent Collateral Trigger Date.

Collateral Release Period means any period of the time while the Notes remain outstanding during which the Holders’ security interest in all of the Collateral is released in accordance with the conditions described in Section 10.03(b) hereof.

Examples of Collateral Release Period in a sentence

• The Company will not (a) at any time other than during a Collateral Release Period, permit the aggregate amount of all Priority Debt to exceed $15,000,000 and (b) at any time during a Collateral Release Period, permit the aggregate amount of all Priority Debt to exceed an amount equal to 20% of Consolidated Tangible Net Worth determined as of the end of the then most recently ended fiscal quarter of the Company.

• For the avoidance of doubt, during a Collateral Release Period, the Collateral and Guarantee Requirement shall be limited to the provisions with respect to the providing of Guaranties (and related action), and shall not require any action with respect to the granting or perfection of any assets or Collateral (provided the other provisions of this document relating to the provision of Cash Collateral shall continue to apply).

• Immediately upon the commencement of any Collateral Release Period and without further action of any Person, the security interests of the Collateral Agent and the other Secured Parties in the Collateral shall be terminated and released; provided that the Guarantee of each Loan Party of the Obligations pursuant to the Loan Documents shall remain in effect during any such Collateral Release Period.

• During any Collateral Release Period, the Administrative Agent and the Collateral Agent shall execute and deliver, at the Parent Borrower’s expense, all documents or other instruments that the Parent Borrower shall reasonably request to evidence the termination and release of such security interests and shall return all Collateral in their possession to the Parent Borrower.

• Except during a Collateral Release Period, at all times own, pledge and grant a first-priority security interest to the Collateral Trustee, for the benefit of the Secured Parties, in 100% of the Equity Interests of any Funded L/C SPV then in existence owned directly or indirectly by the Borrower (other than any preferred interests owned by any LC Issuer or other Persons on behalf of, or at the request of, any LC Issuer in connection with Cash Collateralized Letter of Credit Facilities).

More Definitions of Collateral Release Period

Collateral Release Period means, each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

Collateral Release Period means any period after the Original Effective Date commencing on the occurrence of a Collateral Release Date and ending on the Collateral Trigger Date subsequent to such Collateral Release Date.

Collateral Release Period means any period of time during which the Collateral Agent is not required to have a Lien (other than set off rights) on any Collateral pursuant to the Security Documents.

Collateral Release Period means an Initial Collateral Release Period or a Subsequent Collateral Release Period.

Collateral Release Period means any period from and including the Collateral Release Date to the Collateral Re-Pledge Date, if any, or, if no Collateral Re-Pledge Date has occurred, the Termination Date.

Collateral Release Period means the period commencing on the date on which the Administrative Agent has released the Liens on the Collateral securing the Obligations in accordance with, and pursuant to, Section 10.22 and ending on the date on which a Collateral Reinstatement Event occurs.

Collateral Release Period means any period during which (i) the Applicable Credit Rating is at least BBB- (with stable or better outlook) from S&P and at least Baa3 (with stable or better outlook) from Xxxxx’x, (ii) no Event of Default then exists and (iii) no Term B Loans or any other Indebtedness for borrowed money of the Parent Borrower or any of the Subsidiary Loan Parties (other than the Obligations) that is secured is then outstanding. Each Collateral Release Period shall (x) commence upon (a) the Parent Borrower’s satisfaction of the conditions set forth in the immediately preceding sentence and (b) certification by the Parent Borrower thereof and (y) shall terminate on the first date following the commencement of such Collateral Release Period on which the Parent Borrower ceases to satisfy any of the above conditions.