Delivery of the Release. (a) The Custodian shall hold all Releases of Security delivered to it as Custodial Documents in accordance with the terms of the Custodial Agreement and this Agreement, provided that to the extent of any inconsistency between the terms of this Agreement and the terms of the Custodial Agreement, the terms of this Agreement will govern. Subject to making available the Releases of Security to the Asset Monitor or CMHC in accordance with the terms of the Custodial Agreement (provided that the Custodian shall not permit copies to be made of the Releases of Security without the prior written consent of the relevant Seller) and delivering such Releases of Security to any replacement Custodian in accordance with the terms of the Custodial Agreement, the Custodian shall deliver any such Release of Security solely in accordance with this Section 5.2.
(b) Following the receipt of (i) a notice from the Servicer pursuant to Section 12.5(a) of the Servicing Agreement or a notice from a Replacement Servicer delivered pursuant to corresponding provisions of the servicing agreement with such Replacement Servicer, or (ii) such other evidence satisfactory to the Custodian (acting reasonably) of circumstances properly the subject of such a notice which evidence may be provided concurrently with a request by a beneficial owner (or owner) pursuant to this Section 5.2(b), any beneficial owner (or owner) of Guarantor Purchased Loans forming part of the affected Related Loans identified in the notice that is a party to this Agreement may deliver a request in writing to the Custodian and each other beneficial owner (or owner) of such affected Related Loans party to this Agreement requesting delivery by the Custodian of the Release of Security in respect of the Shared Security for such Related Loans and identifying the Independent Legal Counsel (as such term is used in the CMHC Guide) that is to deliver the Release Opinion (as defined below).
(c) Provided that the Independent Legal Counsel identified in any notice delivered pursuant to Section 5.2(b) is acceptable to the Custodian, the party delivering a request pursuant to Section 5.2(b) in respect of the affected Related Loans identified in such notice shall engage such Independent Legal Counsel to provide a legal opinion (“Release Opinion”) addressed to the Custodian and each of the holders of the affected Related Loans, in form and substance satisfactory to the Custodian, confirming that in respect of the affected Related Loans:...
Delivery of the Release. (a) The Custodian shall hold all Releases of Security delivered to it as Custodial Documents in accordance with the terms of the Custodial Agreement and this Agreement, provided that to the extent of any inconsistency between the terms of this Agreement and the terms of the Custodial Agreement, the terms of this Agreement will govern. Subject to making available the Releases of Security to the Asset Monitor or CMHC in accordance with the terms of the Custodial Agreement (provided that the Custodian shall not permit copies to be made of the Releases of Security without the prior written consent of the Seller and the related Originators) and delivering such Releases of Security to any replacement Custodian in accordance with the terms of the Custodial Agreement, the Custodian shall deliver any such Release of Security solely in accordance with this Section 5.2.
(b) Following the receipt of (i) a notice from the Servicer pursuant to Section 12.5(a) of the Servicing Agreement or a notice from a Replacement Servicer delivered pursuant to corresponding provisions of the servicing agreement with such Replacement Servicer, or
