Example ContractsClausesAmendments to Security Documents; Releases of Liens and Subsidiary Guarantors
Amendments to Security Documents; Releases of Liens and Subsidiary Guarantors
Amendments to Security Documents; Releases of Liens and Subsidiary Guarantors contract clause examples
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Amendments to Organizational Documents. Amend, modify or change its certificate or articles of incorporation (including by the filing or modification of any certificate or articles of designation), certificate of formation, limited liability company agreement or by-laws (or the equivalent organizational documents), as applicable, in each case, in any manner materially adverse to the interests of the Lenders (taken as a whole); provided that, in each case, a certificate of the delivered to the Administrative at least five Business Days prior to such amendment or other modification, together with a reasonably detailed description of such amendment or modification, stating that the has reasonably determined in good faith that such terms and conditions satisfy such foregoing requirement shall be conclusive evidence that such terms and conditions satisfy such foregoing requirement unless the Administrative notifies the within such five Business Day period that it disagrees with such determination (including a reasonably detailed description of the basis upon which it disagrees).

Amendments of Organization Documents. Amend any of its Organization Documents which would be materially adverse to the Lenders.

Liens created pursuant to the Security Documents;

Except # with respect to the Liens securing # the New Term Loan B Facility, # the New Term Loan A Facility, and # Other Secured Claims (depending on the treatment of such Claims), or # as otherwise provided herein or in any contract, instrument, release, or other agreement or document created pursuant to the Plan, on the Effective Date, all mortgages, deeds of trust, Liens, pledges, or other security interests against any property of the Estates shall be fully released and discharged, and the holders of such mortgages, deeds of trust, Liens, pledges, or other security interests shall execute such documents as may be reasonably requested by the Debtors or the Reorganized Debtors, as applicable, to reflect or effectuate such releases, and all of the right, title, and interest of any holder of such mortgages, deeds of trust, Liens, pledges, or other security interests shall revert to the Reorganized Debtor and its successors and assigns.

SECTION # Release of Liens and Guarantees. (v) A Subsidiary Loan Party shall automatically be released from its obligations under the Loan Documents, and all security interests created by the Security Documents in Collateral owned by such Subsidiary Loan Party shall be automatically released, upon the consummation of any transaction permitted by this Agreement as a result of which such Subsidiary Loan Party ceases to be a Subsidiary; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and the terms of such consent shall not have provided otherwise. Upon any sale, transfer or other disposition by any Loan Party (other than to another Loan Party) of any Collateral in a transaction permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security interest created under any Security Document in any Collateral pursuant to [Section 9.02], the security interests in such Collateral created by the Security Documents shall be automatically released.

Affirmation of Liens. Each of the Loan Parties hereby affirms the liens and security interests created and granted by it in the Loan Documents (including, but not limited to, each of the Collateral Documents) and agrees that this Agreement shall in no manner adversely affect or impair such liens and security interests.

The Collateral Documents continue to create a valid security interest in, and Lien upon, the Collateral, in favor of the [[Administrative Agent:Organization]], for the benefit of the , which security interests and Liens are perfected in accordance with the terms of the Collateral Documents and prior to all Liens other than Permitted Liens.

Liens. As of the Original Effective Date, Part B of [Schedule II] is a complete and correct list of each Lien (other than Permitted Liens and Liens created pursuant to the Security Documents) securing outstanding Indebtedness of any Person covering any property of the Borrower or any of its Subsidiaries, and the aggregate Indebtedness secured (or that may be secured) by each such Lien and the property covered by each such Lien as of the Original Effective Date is correctly described in Part B of [Schedule II].

Liens. Borrower will not, nor will it permit any of its Subsidiaries to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets (real or personal, tangible or intangible) of Borrower or any of its Subsidiaries, whether now owned or hereafter acquired; provided that the provisions of this Section 9.01 shall not prevent the creation, incurrence, assumption or existence of the following (Liens described below are herein referred to as “Permitted Liens”):

Liens. Trustor shall not create, incur or suffer to exist any Lien on the Property or any part thereof which might or could be held to be superior or inferior to the lien of this Deed of Trust, other than current non-delinquent real estate taxes and assessments, Permitted Liens, and any such lien, encumbrance or charge consented to in writing by Beneficiary. Trustor shall pay, when due, the claims of: # all persons supplying labor or materials to or in connection with the Property, and # registered or certified surveyors or engineers, or licensed architects, or their professional consultants supplying professional services in connection with the Property.

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