Common use of Conditions to Release of Collateral Clause in Contracts

Conditions to Release of Collateral. (a) Subject to Sections 8.1(d) and 8.2, the Collateral Agent shall release its Security Interest in all of the Collateral on the date which is three Business Days after the date on which (i) the Collateral Agent shall have received written instructions from each Representative instructing the Collateral Agent to release its Security Interest in all of the Collateral, and (ii) accrued and unpaid Collateral Agent's Fees shall have been paid in full. (b) Subject to Sections 8.1(d) and 8.2, the Collateral Agent shall release its Security Interest in specific items or portions of the Collateral on the date which is no later than three Business Days after the date on which the Collateral Agent shall have received written instructions from each Representative instructing the Collateral Agent to release its Security Interest in specific items or portions of the Collateral.