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

Permitted Asset Dispositions; Release of Collateral. After consummation of a Permitted Asset Disposition, upon request of the Issuer (together with an Officer’s Certificate and an Opinion of Counsel, each stating that such release is authorized or permitted by the terms of the Transaction Documents and that all conditions precedent with respect thereto have been satisfied), the Trustee, at the written direction of the Control Party (acting at the direction of the Controlling Class Representative), 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 (Twin Hospitality Group Inc.), Base Indenture (Fat Brands, Inc), Base Indenture (Fat Brands, Inc)

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