(n) A Subsidiary Guarantor shall automatically be released from its obligations under the Guaranty upon the consummation of any transaction or designation permitted by this Agreement as a result of which such Subsidiary Guarantor # ceases to be a Restricted Subsidiary or # becomes an Excluded Subsidiary, provided that any Subsidiary Guarantor shall only be released from its obligations under the Guaranty pursuant to this clause (B) as a result of such Subsidiary Guarantor becoming an Excluded Subsidiary of the type described in clause (iv) of the definition thereof if # at the time such Subsidiary Guarantor becomes an Excluded Subsidiary of such type, no Event of Default has occurred and is continuing and # such Subsidiary Guarantor so becomes an Excluded Subsidiary as a result of a joint venture or other strategic transaction entered into for a bona fide business purpose;

that any Subsidiary Guarantor shall be automatically released from its obligations under the Guaranty if such Person ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary as a result of a transaction or designation permitted hereunder; provided that the release of any Subsidiary Guarantor from its obligations under the Guaranty if such Person becomes an Excluded Subsidiary shall only be permitted if, at the time of such release, after giving pro forma effect to such release, # the Borrower is deemed to have made an Investment in such Person (as if such Person were then newly acquired) and such Investment is permitted by this Agreement and # such Person satisfies [clause (v) of Section 7.12] (as if such Person is an Unrestricted Subsidiary); provided, further, that no such release shall occur if such Guarantor continues to be a guarantor in respect of any Restricted Indebtedness, any Credit Agreement Refinancing Indebtedness or any Permitted Refinancing in each case thereof.

a Subsidiary Guarantor will be automatically and immediately released from its obligations under the Guaranty as a result of # such Subsidiary Guarantor ceasing to be a Subsidiary, # such Subsidiary Guarantor ceasing to be a Material Subsidiary, or # such Subsidiary Guarantor becoming an Excluded Subsidiary (clauses [(A)-(C)], each a “Guaranty Release Event”), and each Secured Party irrevocably authorizes and directs the Agents to enter into, and each agrees it will enter into, the necessary and advisable documents requested by the ​ to # release such Subsidiary Guarantor from its obligations under the Guaranty and # release any Liens granted by such Subsidiary or Liens on the Equity Interests of such Subsidiary; and

release any Subsidiary Guarantor from its obligations under the applicable Guaranty if such Person ceases to be a Restricted Subsidiary or otherwise becomes an Excluded Subsidiary as a result of a transaction or designation permitted hereunder; provided that the release of any Subsidiary Guarantor from its obligations under the applicable Guaranty if such Subsidiary Guarantor becomes an Excluded Subsidiary of the type described in clause (b) of the definition thereof pursuant to a Disposition of less than all of the Equity Interests of such Guarantor shall only be permitted if at the time such Subsidiary Guarantor becomes an Excluded Subsidiary of such type or at the time the Borrower requests such release # such release shall constitute an Investment by the Borrower and/or other Loan Parties (as applicable) therein at the date of such release in an amount equal to the fair market value as determined in good faith by the Borrower’s and/or other Loan Parties’ (as applicable) Investment therein and such Investment is permitted pursuant to [Section 7.02] (other than, solely with respect to the Equity Interests in such released Subsidiary, [Section 7.02(e) or (f)])]) at such time and # a Responsible Officer of the Borrower certifies to the Administrative Agent compliance with preceding clause (1); and

that any Subsidiary Guarantor shall be automatically released from its obligations under the Guaranty if such Person ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary as a result of a transaction or designation permitted hereunder; provided that no such release shall occur if such Guarantor continues to be a guarantor in respect of the Senior Notes or any Junior Financing with a principal amount in excess of the Threshold Amount;