Common use of Permitted Asset Dispositions; Release of Collateral Clause in Contracts

Permitted Asset Dispositions; Release of Collateral. After the consummation of any Permitted Asset Disposition, all Liens with respect to such property created in favor of the Trustee for the benefit of the Secured Parties under this Base Indenture and the other Transaction Documents shall be automatically released, and, upon written request of the Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Securitization Entities any and all documentation reasonably requested and prepared by the Securitization Entities at their expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 4 contracts

Samples: Base Indenture Amendment (Wingstop Inc.), Base Indenture (Yum Brands Inc), Base Indenture (Wingstop Inc.)

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Permitted Asset Dispositions; Release of Collateral. After the consummation of any a Permitted Asset Disposition, all Liens with respect to such the disposed property created in favor of the Trustee for the benefit of the Secured Parties under this the Base Indenture and the other Transaction Related Documents shall be automatically released, and, and upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Securitization Entities Master Issuer any and all documentation reasonably requested and prepared by the Securitization Entities Master Issuer at their the Master Issuer’s expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 3 contracts

Samples: Base Indenture (Planet Fitness, Inc.), Supplement to Indenture (Planet Fitness, Inc.), Base Indenture (Planet Fitness, Inc.)

Permitted Asset Dispositions; Release of Collateral. After the Upon consummation of any a Permitted Asset Disposition, all Liens with respect to such the disposed property created in favor of the Trustee for the benefit of the Secured Parties under this Base Indenture and the other Transaction Related Documents shall be automatically released, and, and upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Securitization Entities Master Issuer any and all documentation reasonably requested and prepared by the Securitization Entities Master Issuer at their the Master Issuer’s expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 1 contract

Samples: Base Indenture (Jack in the Box Inc /New/)

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Permitted Asset Dispositions; Release of Collateral. After the consummation of any Permitted Asset Disposition, all Liens with respect to such property created in favor of the Trustee for the benefit of the Secured Parties under this Base Indenture and the other Transaction Documents shall be automatically released, and, upon written request of the Master Issuer, the Trustee, at the written direction of the Control Party, shall execute and deliver to the Securitization Entities any and all documentation reasonably requested and prepared by the Securitization Entities at their expense to effect or evidence the release by the Trustee of the Secured Parties’ security interest in the property disposed of in connection with such Permitted Asset Disposition.

Appears in 1 contract

Samples: Base Indenture (Jay Merger Sub, Inc.)

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