Common use of Release of Contract Assets in Connection with Redemptions Clause in Contracts

Release of Contract Assets in Connection with Redemptions. (a) In connection with the redemptions permitted under this Article XI, the Trustee shall release its Lien on the Contracts, upon (I) the deposit of the amounts set forth in Section 11.02(c) into the Collection Account and (II) the Issuer’s delivery to the Trustee and the Custodian of an Officer’s Certificate, (1) identifying the Contracts and the related Equipment to be released, (2) requesting the release thereof, (3) setting forth the amount deposited in the Collection Account with respect thereto, (4) certifying that the amount deposited in the Collection Account is at least equal to the Redemption Price and all other amounts required to be paid in connection with a redemption under this Article XI, and (5) certifying that all other conditions precedent set forth in the Transaction Documents relating to such release have been satisfied.

Release of Contract Assets in Connection with Redemptions. (a) In connection with the redemptions redemption permitted under this Article XI, the Trustee shall release its Lien on the Contracts, upon (I) at any time after the deposit of conditions to the amounts redemption set forth in Section 11.02(c) into this Article XI have been satisfied and the Collection Account and (II) Notes have been paid in full. In order to effect any such release, the Issuer’s delivery Issuer shall deliver to the Trustee and the Custodian of an Officer’s Certificate, (1) identifying the Contracts and the related Equipment to be released, (2) requesting the release thereof, (3) setting forth the amount deposited in the Collection Account with respect thereto, (4) certifying that the amount deposited in the Collection Account is at least equal to the Redemption Price and all other amounts required to be paid in connection with a redemption Redemption under this Article XI, and (5) certifying that all other conditions precedent set forth in the Transaction Documents relating to such release have been satisfied.

Release of Contract Assets in Connection with Redemptions. (a) In connection with the redemptions any redemption permitted under this Article XI, the Issuer shall be permitted to obtain a release of the Contracts, and the Trustee shall release its Lien on the Contracts, upon (I) at any time after the deposit of the amounts conditions to any redemption set forth in Section 11.02(c) into this Article XI have been satisfied. In order to effect any such release, the Collection Account and (II) the Issuer’s delivery Issuer shall deliver to the Trustee Trustee, the Note Insurer and the Custodian of an Officer’s Certificate, (1) identifying the Contracts and the related Equipment to be released, (2) requesting the release thereof, (3) setting forth the amount deposited in the Collection Account with respect thereto, (4) certifying that the amount deposited in the Collection Account is at least equal to the Redemption Price and all other amounts required to be paid in connection with a redemption Redemption under this Article XI, and (5) certifying that all other conditions precedent set forth in the Transaction Documents relating to such release have been satisfied.