Common use of Release and Substitution of Collateral Clause in Contracts

Release and Substitution of Collateral. (a) Assignor may obtain the release from MLMCI of the security interest in and lien on all or any part of the Collateral at any time, and from time to time, by paying to MLMCI as a repayment the amount of the Loan outstanding with respect to such Collateral to be so released; provided, however, that the date of any such repayment must be acceptable to MLMCI. Any release of the security interest in and lien on all or any part of the Collateral as a result of a repayment or a substitution pursuant to this Section shall be evidenced by the execution and delivery by MLMCI of appropriate documentation to evidence such release. (b) MLMCI shall allow Assignor, in Assignor's sole discretion, to provide collateral acceptable to MLMCI, in MLMCI's sole reasonable discretion, to be substituted for existing Collateral of equal market value ("Substitute Collateral"). All certificates or instruments representing such Substitute Collateral shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance reasonably satisfactory to MLMCI.

Release and Substitution of Collateral. (a) Assignor Borrower may obtain the release from MLMCI SBRC of the security interest in and lien on all or any part of the Collateral at any time, and from time to time, by paying to MLMCI SBRC as a repayment the amount of the Loan outstanding with respect to such Collateral to be so releasedreleased and SBRC shall effect such release upon such repayment; provided, however, that the date of any such repayment must be acceptable to MLMCISBRC. Any release of the security interest in and lien on all or any part of the Collateral as a result of a repayment or a substitution pursuant to this Section shall be evidenced by the execution and delivery by MLMCI SBRC of appropriate documentation to evidence such release. (b) MLMCI SBRC shall allow AssignorBorrower, in AssignorBorrower's sole discretion, to provide collateral acceptable to MLMCISBRC, in MLMCISBRC's sole reasonable discretion, to be substituted for existing Collateral of equal or greater market value ("Substitute Collateral")value. All certificates or instruments representing such Substitute Collateral substituted collateral shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance reasonably satisfactory to MLMCISBRC.

Release and Substitution of Collateral. (a) Assignor may obtain the release from MLMCI of the security interest in and lien on all or any part of the Collateral at any time, and from time to time, by paying to MLMCI as a repayment the amount of the Loan outstanding with respect to such Collateral to be so released; provided, however, that the date of any such repayment must be acceptable to MLMCI. Any release of the security interest in and lien on all or any part of the Collateral as a result of a repayment or a substitution pursuant to this Section shall be evidenced by the execution and delivery by MLMCI of appropriate documentation to evidence such release. (b) MLMCI shall allow Assignor, in Assignor's sole discretion, to provide collateral acceptable to MLMCI, in MLMCI's sole reasonable discretion, to be substituted for existing Collateral of equal market value ("Substitute Collateral")value. All certificates or instruments representing such Substitute Collateral substituted collateral shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance reasonably satisfactory to MLMCI.

Release and Substitution of Collateral. (a) Assignor may obtain the release from MLMCI of the security interest in and lien on all or any part of the Collateral at any time, and from time to time, by paying to MLMCI as a repayment the amount of the Loan outstanding with respect to such Collateral to be so releasedreleased and MLMCI shall effect such release upon such repayment; provided, however, that the date of any such repayment must be acceptable to MLMCI. Any release of the security interest in and lien on all or any part of the Collateral as a result of a repayment or a substitution pursuant to this Section shall be evidenced by the execution and delivery by MLMCI of appropriate documentation to evidence such release. (b) . MLMCI shall allow Assignor, in Assignor's sole discretion, to provide collateral acceptable to MLMCI, in MLMCI's sole reasonable discretion, to be substituted for existing Collateral of equal or greater market value ("Substitute Collateral")value. All certificates or instruments representing such Substitute Collateral substituted collateral shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance reasonably satisfactory to MLMCI.