Common use of Release of Collateral Assignment Clause in Contracts

Release of Collateral Assignment. a. For sixty (60) days after the date of the termination of this Agreement, Owner shall have the option of obtaining the release by Corporation of any collateral assignment of the Policy. To obtain such release, Owner shall pay to Corporation the amount of Corporation's Policy Interest in the policy. Upon receipt of such amount with respect to the Policy, Corporation shall release the collateral assignment of the Policy, by the execution and delivery of an appropriate instrument of release.

Release of Collateral Assignment. a. (a) For sixty (60) days after the date of the termination of this Agreement, Owner shall have the option of obtaining the release by Corporation of any the collateral assignment of any or all of the PolicyPolicies from Corporation. To obtain such release, Owner shall pay to Corporation the amount of the Corporation's Policy Interest in Secured Premium Amount with respect to the policyPolicies to be so released. Upon receipt of such amount with respect to the Policyamount, Corporation shall release the collateral assignment of the Policy, Policy by the execution and delivery of an appropriate instrument of release.