Common use of Release for Payment Clause in Contracts

Release for Payment. Upon the repurchase of any Mortgage Loan pursuant to the Purchase Agreement, or upon the payment in full of any Mortgage Loan, and upon receipt by the Custodian of the Trustee's or the Master Servicer's written Request for Release in written or facsimile or electronic form (which certification shall include a statement to the effect that all amounts payable to the Securities Administrator in connection with a repurchase have been remitted to the Securities Administrator as provided in the Purchase Agreement), the Custodian shall promptly release the related Custodial File in accordance with such Request for Release.

Release for Payment. Upon the repurchase of any Mortgage Loan pursuant to the Purchase Agreement, or upon the payment in full of any Mortgage Loan, and upon receipt by the Custodian of the Trustee's ’s or the Master Servicer's ’s written Request for Release in written or facsimile or electronic form (which certification shall include a statement to the effect that all amounts payable to the Securities Administrator in connection with a repurchase have been remitted to the Securities Administrator as provided in the Purchase Agreement), the Custodian shall promptly release the related Custodial File in accordance with such Request for Release.