Release of Excluded Amounts. The Trust hereby agrees to release to the Servicer, an amount equal to the Excluded Amounts immediately upon identification thereof, which release shall be automatic and shall require no further act by the Trust, provided that the Trust shall execute and deliver such instruments of release and assignment, or otherwise confirm the foregoing release, as may reasonably be requested in writing by the Servicer. Upon such release, such Excluded Amounts shall not constitute and shall not be included in the Trust Assets.
Appears in 29 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (Cit Funding Co, LLC)
Release of Excluded Amounts. The Trust hereby agrees to release to the Servicer, an amount equal to the Excluded Amounts immediately upon identification thereof, which release shall be automatic and shall require no further act by the Trust, provided that the Trust shall execute and deliver such instruments of release and assignment, or otherwise confirm the foregoing release, as may reasonably be requested in writing by the Servicer. Upon such release, such Excluded Amounts shall not constitute and shall not be included in the Trust Assets.. [remainder of this page intentionally left blank]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2000-1)
