Common use of Dispositions of and Collections on Collateral Clause in Contracts

Dispositions of and Collections on Collateral. The Borrower shall have the right to sell or otherwise Dispose of, free and clear of the Lien and security interest created hereby, any Collateral in the manner and under the circumstances provided for in the Custodian Agreement or the Preferred Equity Account Documentation, as applicable. That portion of the Collateral so Disposed of shall be automatically released from the security interest created by this Agreement, without further action by the Secured Party hereunder.

Dispositions of and Collections on Collateral. The Borrower shall have the right to sell or otherwise Dispose of, free and clear of the Lien and security interest created hereby, any Collateral in the manner and under the circumstances provided for in the Custodian Custody and Administration Agreement or the Preferred Equity Account Documentation, as applicable. That portion of the Collateral so Disposed of shall be automatically released from the security interest created by this Agreement, without further action by the Secured Party hereunder.