Example ContractsClausesauthorization to release collateral and guarantorsVariants
Authorization to Release Collateral and Guarantors
Authorization to Release Collateral and Guarantors contract clause examples

So long as no Default or Event of Default then exists, the obligations of the Guarantors (other than the ) set forth in this Article XI shall terminate (other than as to obligations that are stated to survive such termination) automatically and without further action if the obtains a Debt Rating of at least BBB- from S&P or Baa3 from Moody’s and provides the [[Administrative Agent:Organization]] with written evidence (in form and substance satisfactory to the [[Administrative Agent:Organization]]) thereof.

So long as no Default or Event of Default then exists, the obligations of the Guarantors set forth in this [Article XI] shall terminate (other than as to obligations that are stated to survive such termination) automatically and without further action if the Parent obtains a Debt Rating of at least BBB- from S&P or Baa3 from Moody’s and Borrower provides the Administrative Agent with written evidence (in form and substance satisfactory to the Administrative Agent) thereof.

So long as no Default or Event of Default then exists, the obligations of the Guarantors set forth in this Article XI shall terminate (other than as to obligations that are stated to survive such termination) automatically and without further action if the [[Consolidated Parties:Organization]] obtains a Debt Rating of at least BBB- from S&P or Baa3 from Moody’s and [[Consolidated Parties:Organization]] provides the Administrative Agent with written evidence (in form and substance satisfactory to the Administrative Agent) thereof.

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