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Common use of Release for Servicing Clause in Contracts

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedings. The Servicer shall return to the Custodian the Custodial File when the Servicer’s need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt1)

Release for Servicing. From time to time and as appropriate for the foreclosure enforcement or servicing of any of the Mortgage LoansRelated Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian shallis hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon receipt of two copies (or electronic written receipt from the Servicer in a form acceptable to the Custodian) Services Provider of a Request request for Release release of Documents documents and receipt in the form annexed hereto as Exhibit 3H, to release to the ServicerServices Provider within five Business Days of receipt of such request, the related Custodial File or its designee within three Business Days, which, relevant Related Contracts set forth in such request. All documents so released to the Services Provider shall be sent held by overnight mail, at the expense Services Provider in trust for the benefit of the Servicer or the related MortgagorCollateral Agent, and the Custodian shall, at the written direction on behalf of the Servicer, execute such documents provided to it by Secured Parties in accordance with the Servicer as shall be necessary to the prosecution terms of any such proceedingsthis Agreement. The Servicer Services Provider shall return to the Document Custodian the Custodial File Related Contracts when the ServicerServices Provider’s need therefor in connection with such foreclosure enforcement or servicing no longer exists, unless the Mortgage Loan relevant Collateral shall be liquidated liquidated, in which case, upon receipt of the Services Provider shall deliver an additional Request request for Release release of Documents documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer.H.

Appears in 5 contracts

Samples: Credit Agreement (Blue Owl Capital Corp), Credit Agreement (Owl Rock Capital Corp), Credit Agreement (Owl Rock Capital Corp)

Release for Servicing. From time to time and as appropriate for the foreclosure enforcement or servicing of any of the Mortgage LoansCollateral, the Custodian shallTrustee is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon receipt of two copies (or electronic written receipt from the Servicer in a form acceptable to the Custodian) of a Request request for Release release of Documents documents and receipt in the form annexed hereto as Exhibit 3H, to release to the ServicerServicer within 2 Business Days of receipt of such request, the related Custodial File Required Loan Documents or its designee within three Business Days, which, the documents set forth in such request and receipt to the Servicer. All documents so released to the Servicer shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it held by the Servicer as shall be necessary to in trust for the prosecution benefit of any such proceedingsthe Administrative Agent in accordance with the terms of this Agreement. The Servicer shall return to the Custodian Trustee the Custodial File Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Servicer’s need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated liquidated, in which case, upon receipt of an additional Request request for Release release of Documents documents and receipt certifying such liquidation from the Servicer to the Trustee in the form annexed hereto as Exhibit 3H, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 7 subsection shall be released by the Custodian Trustee to the Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Ares Capital Corp), Sale and Servicing Agreement (Ares Capital Corp)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit EXHIBIT 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedingsFile. The Servicer shall return to the Custodian the Custodial File when the Servicer’s 's need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit EXHIBIT 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer. The Custodian shall, at the written request and expense of any Certificateholder or the Trustee, provide a written report to such Certificateholder or the Trustee of all Mortgage Files released to the Servicer for servicing purposes.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2005-Opt1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-1)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedingsFile. The Servicer shall return to the Custodian the Custodial File when the Servicer’s 's need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer. The Custodian shall, at the written request and expense of any Certificateholder or the Trustee, provide a written report to such Certificateholder or the Trustee of all Mortgage Files released to the Servicer for servicing purposes.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust Inc Series 2005-Opt2)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit EXHIBIT 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedingsFile. The Servicer shall return to the Custodian the Custodial File when the Servicer’s 's need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit EXHIBIT 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff4)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit 3, release to the related Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedingsFile. The Each Servicer shall return to the Custodian the Custodial File when the such Servicer’s need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the related Servicer. The Custodian shall, at the written request and expense of any Certificateholder or the Trustee, provide a written report to such Certificateholder or the Trustee of all Mortgage Files released to a Servicer for servicing purposes.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-2)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedingsFile. The Servicer shall return to the Custodian the Custodial File when the Servicer’s need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer. The Custodian shall, at the written request and expense of any Certificateholder or the Trustee, provide a written report to such Certificateholder or the Trustee of all Mortgage Files released to the Servicer for servicing purposes.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-Opt3)

Release for Servicing. From time to time and as appropriate for the foreclosure or servicing of any of the Mortgage Loans, the Custodian shall, upon receipt of two copies (or electronic receipt from the Servicer in a form acceptable to the Custodian) of a Request for Release of Documents and receipt in the form annexed hereto as Exhibit 3, release to the Servicer, the related Custodial File or its designee within three Business Days, which, shall be sent by overnight mail, at the expense of the Servicer or the related Mortgagor, and the Custodian shall, at the written direction of the Servicer, execute such documents provided to it by the Servicer as shall be necessary to the prosecution of any such proceedings. The Servicer shall return to the Custodian the Custodial File when the Servicer’s need therefor in connection with such foreclosure or servicing no longer exists, unless the Mortgage Loan shall be liquidated in which case, upon receipt of an additional Request for Release of Documents and receipt certifying such liquidation in the form annexed hereto as Exhibit 3, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-2)