Common use of Release of Entire Loan File Upon Substitution Clause in Contracts

Release of Entire Loan File Upon Substitution. Subject to subsection 5.08(c), upon receipt by the Indenture Trustee of a certification of a Servicing Officer of the Servicer of such substitution or of such purchase and the deposit of the amounts described in subsection 2.07(b) in the Collection Account (which certification shall be in the form of Exhibit E hereto), the Indenture Trustee shall release to the Servicer for release to the Originator the related Loan File and the Indenture Trustee and the Issuer shall execute, without recourse, and deliver such instruments of transfer prepared by the Servicer necessary to transfer all right, title and interest in such Loan to the Originator free and clear of any Liens created by the Transaction Documents. All costs of any such transfer shall be borne by the Servicer.

Release of Entire Loan File Upon Substitution. Subject to subsection Section 5.08(c), upon receipt by the Indenture Trustee of a certification of a Servicing Officer of the Servicer of such substitution or of such purchase and the deposit of the amounts described in subsection 2.07(bSection 2.08(b) in the Collection Account (which certification shall be in the form of Exhibit E hereto), the Indenture Trustee shall release to the Servicer for release to the Originator the related Loan File and the Indenture Trustee and the Issuer shall execute, without recourse, and deliver such instruments of transfer prepared by the Servicer necessary to transfer all right, title and interest in such Loan to the Originator free and clear of any Liens created by the Transaction Documents. All costs of any such transfer shall be borne by the Servicer.

Release of Entire Loan File Upon Substitution. Subject to subsection 5.08(cSection 5.08(a), upon receipt by the Indenture Trustee of a certification of a Servicing Officer of the Servicer of such substitution or of such purchase and the deposit of the amounts described in subsection 2.07(bSection 2.08(b) in the Collection Principal and Interest Account (which certification shall be in the form of Exhibit E M hereto), the Indenture Trustee shall release to the Servicer for release to the Originator the related Loan File and the Indenture Trustee and the Issuer shall execute, without recourse, and deliver such instruments of transfer prepared by the Servicer necessary to transfer all right, title and interest in such Loan to the Originator free and clear of any Liens created by the Transaction Documents. All costs of any such transfer shall be borne by the Servicer.

Release of Entire Loan File Upon Substitution. Subject to subsection 5.08(c5.08(a), upon receipt by the Indenture Trustee of a certification of a Servicing Officer of the Servicer of such substitution or of such purchase and the deposit of the amounts described in subsection 2.07(b2.08(b) in the Collection Principal and Interest Account (which certification shall be in the form of Exhibit E M hereto), the Indenture Trustee shall release to the Servicer for release to the Originator the related Loan File and the Indenture Trustee and the Issuer shall execute, without recourse, and deliver such instruments of transfer prepared by the Servicer necessary to transfer all right, title and interest in such Loan to the Originator free and clear of any Liens created by the Transaction Documents. All costs of any such transfer shall be borne by the Servicer.

Release of Entire Loan File Upon Substitution. Subject to subsection 5.08(c), upon Upon receipt by the Indenture Trustee of a certification certificate requesting the release of a Loan File signed by a Servicing Officer of the Servicer of such in the form attached as Exhibit P hereto upon substitution or of such the purchase and the deposit of the amounts described in subsection 2.07(b2.8(b) in the Collection Account (which certification shall be in the form of Exhibit E hereto)Principal and Interest Account, the Indenture Trustee shall release to the Servicer for release to the Originator the related Loan File and the Indenture Trustee and the Issuer Trust shall execute, without recourse, and deliver such instruments of transfer prepared by the Servicer necessary to transfer all right, title and interest in such Loan to the Originator free and clear of any Liens created by the Transaction Documents. All costs of any such transfer shall be borne by the Servicer.