Common use of Release of Excluded Amounts Clause in Contracts

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Trustee hereby agrees to release to the Issuer from the Loan Assets, and the Issuer hereby agrees to release to the Trust Depositor, any Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Trustee or the Issuer; provided that the Trustee and Issuer shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release, as may reasonably be requested by the Trust Depositor in writing. Such Excluded Amounts shall not constitute and shall not be included in the Loan Assets. (b) Immediately upon the release to the Trust Depositor by the Trustee of any Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided that the Trust Depositor shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release of such Excluded Amounts, as may be reasonably requested by the Seller in writing.

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Trustee hereby agrees to release to the Issuer from the Loan Assets, and the Issuer hereby agrees to release to the Trust Depositor, any Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Trustee or the Issuer; provided that the Trustee and Issuer Owner Trustee shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release, as may reasonably be requested by the Trust Depositor in writing. Such Excluded Amounts shall not constitute and shall not be included in the Loan Assets. (b) Immediately upon the release to the Trust Depositor by the Trustee of any the Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller Originator such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided that the Trust Depositor shall execute and deliver such instruments of release and assignment or other documentsassignment, or otherwise confirm confirming the foregoing release of such any Excluded Amounts, as may be reasonably requested by the Seller in writingOriginator.

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Trustee hereby agrees to release to the Issuer from the Loan Assets, and the Issuer hereby agrees to release to the Trust Depositor, any Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Trustee or the Issuer; provided that the Trustee and Issuer the Owner Trustee shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release, as may reasonably be requested by the Trust Depositor in writing. Such Excluded Amounts shall not constitute and shall not be included in the Loan Assets. (b) Immediately upon the release to the Trust Depositor by the Trustee of any the Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller Originator such Excluded Amounts, which release shall be automatic and shall require no further act action by the Trust Depositor; provided that the Trust Depositor shall execute and deliver such instruments of release and assignment or other documentsassignment, or otherwise confirm confirming the foregoing release of such any Excluded Amounts, as may be reasonably requested by the Seller in writingOriginator.

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Trustee hereby agrees to release to the Issuer from the Loan Assets, and the Issuer hereby agrees to release to the Trust Depositor, any Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Trustee or the Issuer; provided that the Trustee and Issuer Owner Trustee shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release, as may reasonably be requested by the Trust Depositor in writing. Such Excluded Amounts shall not constitute and shall not be included in the Loan Assets. (b) Immediately upon the release to the Trust Depositor by the Trustee of any Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller Originator such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided that the Trust Depositor shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release of such Excluded Amounts, as may be reasonably requested by the Seller Originator in writing.

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Indenture Trustee hereby agrees to release to the Issuer from the Loan Assets, and the Issuer hereby agrees to release to the Trust Depositor, any Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Indenture Trustee or the Issuer; provided that provided, that, the Indenture Trustee and Issuer Owner Trustee shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release, as may reasonably be requested by the Trust Depositor in writing. Such Excluded Amounts shall not constitute and shall not be included in the Loan Assets. (b) Immediately upon the release to the Trust Depositor by the Indenture Trustee of any the Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller Originator such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided that provided, that, the Trust Depositor shall execute and deliver such instruments of release and assignment or other documentsassignment, or otherwise confirm confirming the foregoing release of such any Excluded Amounts, as may be reasonably requested by the Seller in writingOriginator.

Release of Excluded Amounts. (a) The parties hereto acknowledge and agree that the Issuer has no interest in the Excluded Amounts. The Indenture Trustee hereby agrees to release to the Issuer Trust from the Loan Trust Assets, and the Issuer Trust hereby agrees to release to the Trust Depositor, any an amount equal to the Excluded Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of (which identification shall be delivered in writing by the ServicerServicer to the Indenture Trustee), which release shall be automatic and shall require no further act by the Indenture Trustee or the Issuer; Trust, provided that the Indenture Trustee and Issuer or Owner Trustee shall execute and deliver such instruments of release and assignment or other documentsassignment, or otherwise confirm the foregoing release, as may reasonably be requested in writing by the Trust Depositor in writingDepositor. Such Upon such release, such Excluded Amounts shall not constitute and shall not be included in the Loan Trust Assets. (b) Immediately upon the release to the Trust Depositor by the Trustee Trust of any the Excluded Amounts, the Trust Depositor hereby irrevocably agrees to release to the Seller such Excluded Amounts, which release shall be automatic and shall require no further act by the Trust Depositor; provided , provided, that the Trust Depositor shall execute and deliver such instruments of release and assignment or other documentsassignment, or otherwise confirm confirming the foregoing release of such any Excluded Amounts, as may be reasonably requested by the Seller in writingSeller.