Common use of Release of Contract Files Clause in Contracts

Release of Contract Files. The Seller may, with the prior written consent of the Deal Agent (such consent not to be unreasonably withheld), require that the Collateral Custodian release each Contract File (a) delivered to the Collateral Custodian in error, (b) for which a Substitute Contract has been substituted in accordance with Section 2.16, (c) as to which the lien on the related Equipment has been so released pursuant to Section 5.3, (d) which has been retransferred to the Seller pursuant to Section 5.5 or 5.6, or (e) which is required to be redelivered to the Seller in connection with the termination of this Agreement, in each case by submitting to the Collateral Custodian and the Deal Agent a written request in the form of Exhibit H hereto (signed by both the Seller and the Deal Agent) specifying the Contracts to be so released and reciting that the conditions to such release have been met (and specifying the section or sections of this Agreement being relied upon for such release). The Collateral Custodian shall upon its receipt of each such request for release executed by the Seller and the Deal Agent promptly, but in any event within 5 Business Days, release the Contract Files so requested to the Seller.

Appears in 3 contracts

Samples: Receivables Purchase Agreement (Resource America Inc), Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (Fidelity Leasing Inc)

AutoNDA by SimpleDocs

Release of Contract Files. The Seller may, with the prior written consent of the Deal Agent Administrator (such consent not to be unreasonably withheld), require that the Collateral Custodian release each Contract File (a) delivered to the Collateral Custodian in error, (b) for which a Substitute Contract has been substituted in accordance with Section 2.16, (c) as to which the lien on the related Equipment has been so released pursuant to Section 5.3, (d) which has been retransferred to the Seller pursuant to Section 5.5 or 5.6, or (e) which is required to be redelivered to the Seller in connection with the termination of this Agreement, in each case by submitting to the Collateral Custodian and the Deal Agent Administrator a written request in the form of Exhibit H hereto (signed by both the Seller and the Deal AgentAdministrator) specifying the Contracts to be so released and reciting that the conditions to such release have been met (and specifying the section or sections of this Agreement being relied upon for such release). The Collateral Custodian shall upon its receipt of each such request for release executed by the Seller and the Deal Agent Administrator promptly, but in any event within 5 Business Days, release the Contract Files so requested to the Seller.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Fidelity Leasing Inc)

AutoNDA by SimpleDocs

Release of Contract Files. The Seller Borrower may, with the prior written consent of the Deal Agent (such consent not to be unreasonably withheld), require that the Collateral Custodian release each Contract File (a) delivered to the Collateral Custodian in error, (b) for which a Substitute Contract has been substituted in accordance with Section 2.162.13, (c) as to which the lien on the related Equipment has been so released pursuant to Section 5.3, (d) which has been retransferred to the Seller Borrower pursuant to Section 5.5 or 5.6, or (e) which is required to be redelivered to the Seller Borrower in connection with the termination of this Agreement, in each case by submitting to the Collateral Custodian and the Deal Agent a written request substantially in the form of Exhibit H G hereto (signed by both the Seller Borrower and the Deal Agent) specifying the Contracts to be so released and reciting that the conditions to such release have been met (and specifying the section or sections of this Agreement being relied upon for such release). The Collateral Custodian shall upon its receipt of each such request for release executed by the Seller Borrower and the Deal Agent promptly, but in any event within 5 Business Days, release the Contract Files so requested to the SellerBorrower.

Appears in 1 contract

Samples: Credit Agreement (Fidelity Leasing Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.