Common use of Limitation on Release Clause in Contracts

Limitation on Release. The foregoing provision respecting release to the Collateral Manager of the Required Loan Documents and documents by the Custodian upon request by the Collateral Manager shall be operative only to the extent that at any time the Custodian shall not have released to the Collateral Manager active Required Loan Documents (including those requested) pertaining to more than 15 Loans at the time being serviced by the Collateral Manager under this Agreement. Any additional Required Loan Documents or documents requested to be released by the Collateral Manager may be released only upon written authorization of the Administrative Agent. The limitations of this paragraph shall not apply to the release of Required Loan Documents to the Collateral Manager pursuant to the immediately succeeding subsection.

Appears in 6 contracts

Samples: Loan and Security Agreement (Kayne Anderson BDC, Inc.), Loan and Security Agreement (Kayne Anderson BDC, Inc.), Loan and Security Agreement (Nuveen Churchill Direct Lending Corp.)

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Limitation on Release. The foregoing provision respecting with respect to the release to the Collateral Manager of the Required Loan Documents and documents by the Custodian Collateral Agent upon request by the Collateral Manager shall be operative only to the extent that at any time the Custodian shall not have released Administrative Agent has consented to such release. Promptly after delivery to the Collateral Manager active Required Loan Documents (including those requested) pertaining to more than 15 Loans at the time being serviced by Agent of any request for release of documents, the Collateral Manager under this Agreementshall provide notice of the same to the Administrative Agent. Any additional Required Loan Documents or documents requested to be released by the Collateral Manager may be released only upon written authorization of the Administrative Agent. The limitations of this paragraph shall not apply to the release of Required Loan Documents to the Collateral Manager pursuant to the immediately succeeding subsection.

Appears in 3 contracts

Samples: Loan and Security Agreement (Oaktree Specialty Lending Corp), Loan and Security Agreement (Oaktree Strategic Income Corp), Loan and Security Agreement (Fifth Street Senior Floating Rate Corp.)

Limitation on Release. The foregoing provision respecting with respect to the release to the Collateral Manager of the Required Loan Documents and documents by the Collateral Custodian upon request by the Collateral Manager shall be operative only to the extent that at any time the Custodian shall not have released Administrative Agent has consented to such release. Promptly after delivery to the Collateral Manager active Required Loan Documents (including those requested) pertaining to more than 15 Loans at the time being serviced by Custodian of any request for release of documents, the Collateral Manager under this Agreementshall provide notice of the same to the Administrative Agent. Any additional Required Loan Documents or documents requested to be released by the Collateral Manager may be released only upon written authorization of the Administrative AgentAgent (with a copy to the Collateral Custodian). The limitations of this paragraph shall not apply to the release of Required Loan Documents to the Collateral Manager pursuant to the immediately succeeding subsection.

Appears in 2 contracts

Samples: Loan and Servicing Agreement (Franklin BSP Lending Corp), Loan and Servicing Agreement (Business Development Corp of America)

Limitation on Release. The foregoing provision respecting release to the Collateral Manager of the Required Loan Documents and documents by the Custodian upon request by the Collateral Manager shall be operative only to the extent that at any time the Custodian shall not have released to the Collateral Manager active Required Loan Documents (including those requested) pertaining to more than 15 Loans at the time being serviced by the Collateral Manager under this Agreement. Any additional Required Loan Documents or documents requested to be released by the Collateral Manager may be released only upon written authorization of the Administrative AgentAgent (other than with respect to the release of Required Loan Documents in connection with Sections 2.19, 2.20 and 2.21). The limitations of this paragraph shall not apply to the release of Required Loan Documents to the Collateral Manager pursuant to the immediately succeeding subsection. It shall be the sole obligation of the Collateral Manager to track the number of released Loans.

Appears in 1 contract

Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)

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Limitation on Release. The foregoing provision respecting release to the Collateral Manager of the Required Loan Documents Underlying Instruments and documents by the Collateral Custodian upon request by the Collateral Manager shall be operative only to the extent that at any time the Collateral Custodian shall not have released to the Collateral Manager active Required Loan Documents Underlying Instruments (including those requested) pertaining to more than 15 Loans at the time being serviced by the Collateral Manager under this Agreement. Any additional Required Loan Documents Underlying Instruments or documents requested to be released by the Collateral Manager may be released only upon written authorization of the Administrative Agent. The limitations of this paragraph shall not apply to the release of Required Loan Documents Underlying Instruments to the Collateral Manager pursuant to the immediately succeeding subsection.

Appears in 1 contract

Samples: Loan and Security Agreement (New Mountain Guardian IV BDC, L.L.C.)

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