Common use of Release of Lien on Collateral Clause in Contracts

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

Release of Lien on Collateral. (a) At the same time as (i) any Collateral Loan expires by its terms or is prepaid in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, Account or (ii) such any Loan has been the subject of a Discretionary Sale, Substitution or Optional Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.69.2, the Administrative Collateral Agent, as agent for the Secured Parties will, to the extent requested by the Collateral ManagerManager or the Borrower, release its interest in such Collateral. In connection with any sale release of such Collateral, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will after upon receipt into the deposit by the Collateral Manager Collection Account of the Proceeds of any such sale into the Collection Accountsale, payment in full or prepayment in full of a Loan, at the sole expense of the Collateral ManagerBorrower, (i) execute and deliver to the Borrower or the Collateral Manager (or its designee) requesting the same, any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager such Person may reasonably request in order to effect the release and transfer of such Collateral, (ii) deliver any portion of the Collateral to be released from the Lien granted under this Agreement in its possession to or at the direction of the Borrower and (iii) otherwise take such actions as are necessary and appropriate to release the Lien of the Collateral Agent for the benefit of the Secured Parties on the applicable portion of the Collateral to be released and delivered to or at the direction of the Borrower such portion of the Collateral to be so released; provided that, the Administrative Collateral Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or release, sale, transfer and and/or assignment. Nothing in this section Section 8.2 shall diminish the Collateral Manager’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement 2.14 or has been sold a sale pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

Release of Lien on Collateral. (a) At the same time as (i) any Collateral Loan expires by its terms or is prepaid in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, Account or (ii) such any Loan has been the subject of a Discretionary Sale, Substitution (including Substitution of a Warranty Loan) or Optional Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement 2.14 or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.69.2, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties will, to the extent requested in writing by the Collateral ManagerManager or the Borrower, release its interest in such Collateral. In connection with any sale release of such Collateral, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will after upon the deposit by written request of the Collateral Manager Agent and receipt into the General Collection Account of the Proceeds of any such sale into the Collection Accountsale, payment in full or prepayment in full of a Loan, at the sole expense of the Collateral ManagerBorrower, (i) execute and deliver to the Borrower or the Collateral Manager (or its designee) requesting the same, any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager such Person may reasonably request in order to effect the release and transfer of such Collateral, (ii) deliver any portion of the Collateral to be released from the Lien granted under this Agreement in its possession to or at the written direction of the Borrower and (iii) otherwise take such actions as are necessary and appropriate to release the Lien of the Collateral Agent for the benefit of the Secured Parties on the applicable portion of the Collateral to be released and delivered to or at the written direction of the Borrower such portion of the Collateral to be so released; provided that, the Administrative Collateral Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or release, sale, transfer and and/or assignment. Nothing in this section Section shall diminish the Collateral Manager’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At On the same time as date (ia) any Collateral Receivable expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (iib) such Loan has any Receivable becomes a Prepaid Receivable and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale related Obligor and deposited in the Collection Account, (c) any Receivable is purchased by Drawbridge Special Opportunities Fund LP pursuant to Section 2.14the Purchase Agreement, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iiid) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral13.6, the Administrative Agent, as agent for the Secured Parties, will after shall automatically and without further action be deemed to transfer, assign and set-over to the deposit by Borrower, without recourse, representation or warranty, all the Collateral Manager right, title and interest of the Proceeds Administrative Agent, as agent for the Secured Parties in, to and under such Receivable (or all Receivables in the case of such sale into the Collection Accountclause (d) above), at the sole expense of the all related Collateral Manager, execute and deliver all future monies due or to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the become due with respect thereto. The Administrative Agent, as agent for the Secured Parties, will make no representation or warrantyshall, express or impliedat the sole expense of the Borrower, with respect to any (i) execute such Collateral instruments of release in connection with such sale or transfer and assignment. Nothing in this section shall diminish favor of the Collateral Manager’s obligations hereunder Borrower with respect to the Proceeds portion of the Collateral to be released from the Lien of this Agreement as the Borrower may reasonably request (in recordable form if necessary), (ii) deliver any portion of the Collateral to be released from the Lien of this Agreement in its possession to the Borrower and (iii) otherwise take such saleactions, and cause or permit the Collateral Custodian to take such actions, as are necessary and appropriate to release the Lien of the Administrative Agent and the Secured Parties on the portion of the Collateral to be released and deliver to the Borrower such portion of the Collateral to be released to the Borrower.

Release of Lien on Collateral. (a) At the same time as (i) any Collateral Loan expires by its terms or is prepaid in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, Account or (ii) such any Loan has been the subject of a Discretionary Sale, Substitution (including Substitution of a Warranty Loan) or Optional Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement 2.14 or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.69.2, the Administrative Collateral Agent, as agent for the Secured Parties will, to the extent requested by the Collateral ManagerManager or the Borrower, release its interest in such Collateral. In connection with any sale release of such Collateral, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will after upon receipt into the deposit by the Collateral Manager General Collection Account of the Proceeds of any such sale into the Collection Accountsale, payment in full or prepayment in full of a Loan, at the sole expense of the Collateral ManagerBorrower, (i) execute and deliver to the Borrower or the Collateral Manager (or its designee) requesting the same, any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager such Person may reasonably request in order to effect the release and transfer of such Collateral, (ii) deliver any portion of the Collateral to be released from the Lien granted under this Agreement in its possession to or at the direction of the Borrower and (iii) otherwise take such actions as are necessary and appropriate to release the Lien of the Collateral Agent for the benefit of the Secured Parties on the applicable portion of the Collateral to be released and delivered to or at the direction of the Borrower such portion of the Collateral to be so released; provided that, the Administrative Collateral Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or release, sale, transfer and and/or assignment. Nothing in this section Section shall diminish the Collateral Manager’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At The Lien created pursuant to this Agreement shall be automatically released with upon the same time as occurrence of the following: (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.14 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager Borrower any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Borrower may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Borrower’s or the Collateral Manager’s obligations hereunder pursuant to Section 2(e) of the Collateral Management Agreement with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.14 or (iii) this Agreement terminates in accordance with Section 12.6, the interest of the Administrative Agent in such Collateral shall be automatically released, and the Administrative Agent, as agent for the Secured Parties willParties, to the extent requested by the Collateral Investment Manager, shall, at the sole expense of the Borrower, provide evidence of the release of its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Investment Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Investment Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Investment Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerCustodian’s obligations hereunder pursuant to Section 6.2(j) with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan is transferred or replaced in accordance with Section 2.17, (iii) such Loan has been the subject of an Optional Sale pursuant to Section 2.18, (iv) such Loan has been the subject of a Discretionary Sale or a Lien Release Dividend pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.19 or (iiiv) this Agreement terminates in accordance with Section 12.613.6, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.14 or (iii) this Agreement terminates in accordance with Section 12.6, the interest of the Administrative Agent in such Collateral shall be automatically released, and the Administrative Agent, as agent for the Secured Parties willParties, to the extent requested by the Collateral InvestmentCollateral Manager, shall, at the sole expense of the Borrower, provide evidence of the release of its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral InvestmentCollateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral InvestmentCollateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral InvestmentCollateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerCustodian’s obligations hereunder pursuant to Section 6.2(j) with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan is transferred or replaced in accordance with Section 2.16, (iii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.17 or (iiiiv) this Agreement terminates in accordance with Section 12.613.6, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerManager (subject to reimbursement as provided in Sections 2.7 and 2.9), execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Collateral Agent, as agent for on behalf of the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) any Loan becomes a Prepaid Asset in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (iii) such Loan is repurchased or replaced in accordance with Section 2.19, (iv) such Loan has been repurchased by the Borrower pursuant to Section 2.14, (v) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.142.21, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iiivi) this Agreement terminates in accordance with Section 12.613.6, the Administrative AgentTrustee, as agent for on behalf of the Secured Parties Parties, will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative AgentTrustee, as agent for the benefit of the Secured Parties, will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided thatprovided, that the Administrative AgentTrustee, as agent for on behalf of the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement 2.14 or has been sold a sale pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in 108 connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.15 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral ManagerAdministrator, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager Administrator of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerAdministrator, execute and deliver to the Collateral Manager Administrator any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Administrator may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerAdministrator’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such any Loan becomes a Prepaid Loan in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (iii) any Loan is repurchased, substituted, replaced or sold in accordance with Section 2.19, (iv) any Loan has been the subject of an Optional Sale pursuant to Section 2.20, (v) any Loan has been the subject of a Discretionary Sale pursuant to Section 2.142.21, has been sold to or (vi) the Seller as required under earlier of (a) the Sale Agreement or has been sold termination of the Facility Amount in whole pursuant to Section 6.5 or 2.5(a) and (iiib) this Agreement terminates in accordance with Section 12.6the Collection Date, the Administrative Agent, as agent Trustee for the benefit of the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such CollateralCollateral or contemporaneously release its interest in the Collateral as provided herein upon completion of such substitution or deposit of the required amounts into the Collection Account. In connection with any sale of such CollateralRelated Property, the Administrative Agent, as agent Trustee for the benefit of the Secured Parties, Parties will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, as agent Trustee for the benefit of the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided provided, that, the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.. 133

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan Portfolio Asset has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.. 135

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.142.14 or otherwise sold or transferred in accordance with this Agreement (in each case, has the proceeds of which have been sold to deposited in the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 Collection Account) or (iii) this Agreement terminates and the Obligations are paid in accordance with Section 12.6, full in cash (other than contingent indemnification obligations for which no claim has been asserted) the lien and security interest granted under the Transaction Documents in favor of the Administrative Agent, as agent for the Agent or any other Secured Parties will, to the extent requested Party shall be released automatically without any further action by the Collateral Manager, release its interest in such Collateralany Person. In connection with any sale of such CollateralCollateral or such release, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect evidence the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder pursuant to Section 6.5 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.14 or (iii) this Agreement terminates in accordance with Section 12.6, the interest of the Administrative Agent in such Collateral shall be automatically released, and the Administrative Agent, as agent for the Secured Parties willParties, to the extent requested by the Collateral Manager, shall, at the sole expense of the Borrower, provide evidence of the release of its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerCustodian’s obligations hereunder pursuant to Section 6.2(j) with respect to the Proceeds of any such sale.. [Investcorp] Loan and Security Agreement

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager 129 Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such any Loan becomes a Prepaid Loan in full and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (iii) any Loan is repurchased, substituted, replaced or sold in accordance with Section 2.19, (iv) any Loan has been the subject of an Optional Sale pursuant to Section 2.20, (v) any Loan has been the subject of a Discretionary Sale pursuant to Section 2.142.21, has been sold to or (vi) the Seller as required under earlier of (a) the Sale Agreement or has been sold termination of the Facility Amount in whole pursuant to Section 6.5 or 2.5(a) and (iiib) this Agreement terminates in accordance with Section 12.6the Collection Date, the Administrative Agent, as agent Trustee for the benefit of the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such CollateralCollateral or contemporaneously release its interest in the Collateral as provided herein upon completion of such substitution or deposit of the required amounts into the Collection Account. In connection with any sale of such CollateralRelated Property, the Administrative Agent, as agent Trustee for the benefit of the Secured Parties, Parties will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, as agent Trustee for the benefit of the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan Portfolio Asset has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) any Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (iii) such Loan is repurchased, 131 replaced or sold in accordance with Section 2.18, (iv) such Loan has been the subject of an Optional Sale pursuant to Section 2.19, (v) such Loan has been the subject of a Discretionary RIC/BDC Sale pursuant to Section 2.142.20, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iiivi) this Agreement terminates in accordance with Section 12.613.6, the Administrative Agent, as agent for the Secured Parties Trustee will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative AgentTrustee will, as agent for the Secured Parties, will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerServicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, as agent for the Secured Parties, Trustee will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section Section 9.2 shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager122 Servicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has any Asset becomes a Prepaid Asset and all amounts in respect thereof have been paid in full by the subject of a Discretionary Sale pursuant to Section 2.14related Obligor and deposited in the Collection Account, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 or (iii) such Asset is replaced in accordance with Section 2.18, or (iv) this Agreement agreement terminates in accordance with Section 12.613.6, the Administrative Agent, Agent as agent for the Secured Parties will, to the extent requested by the Collateral ManagerServicer, release its interest in such Collateral. In connection with any sale of such CollateralRelated Property, the Administrative Agent, Agent as agent for the Secured Parties, Parties will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager129 Servicer, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such CollateralRelated Property; provided that, that the Administrative Agent, Agent as agent for the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Collateral Related Property in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral ManagerServicer’s obligations hereunder pursuant to Section 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been 2.14 or otherwise sold to the Seller as required under the Sale or transferred in accordance with this Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates and the Obligations are paid in accordance with Section 12.6, full in cash (other than contingent indemnification obligations for which no claim has been asserted) the lien and security interest granted under the Transaction Documents in favor of the Administrative Agent, as agent for the Agent or any other Secured Parties will, to the extent requested Party shall be released automatically without any further action by the Collateral Manager, release its interest in such Collateralany Person. In connection with any sale of such CollateralCollateral or such release, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect evidence the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale.and

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement 2.14 or has been sold a sale pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral Manager, execute and deliver to the Collateral Manager any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s obligations hereunder with respect to the Proceeds of any such sale. Section 8.3.

Release of Lien on Collateral. At the same time as (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been 2.14 or other Loan sold to the Seller as required under the Sale in accordance with this Agreement or has been sold pursuant to Section 6.5 or (iii) this Agreement terminates in accordance with Section 12.6, the interest of the Administrative Agent in such Collateral shall be automatically released, and the Administrative Agent, as agent for the Secured Parties willParties, to the extent requested by the Collateral ManagerServicer, shall, at the sole expense of the Borrower, provide evidence of the release of its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager Servicer of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Servicer may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Collateral Manager’s Custodian's obligations hereunder pursuant to Section 6.2(j) with respect to the Proceeds of any such sale.

Release of Lien on Collateral. At The Lien created pursuant to this Agreement shall be automatically released with upon the same time as occurrence of the following: (i) any Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection Account, (ii) such Loan has been the subject of a Discretionary Sale Sale, Substitution or a sale of a Warranty Loan pursuant to Section 2.14, has been sold to the Seller as required under the Sale Agreement or has been sold pursuant to Section 6.5 2.14 or (iii) this Agreement terminates in accordance with Section 12.6, the Administrative Agent, as agent for the Secured Parties will, to the extent requested by the Collateral Manager, release its interest in such Collateral. In connection with any sale of such Collateral, the Administrative Agent, as agent for the Secured Parties, will after the deposit by the Collateral Manager of the Proceeds of such sale into the Collection Account, at the sole expense of the Collateral ManagerBorrower, execute and deliver to the Collateral Manager Borrower any assignments, bills of sale, termination statements and any other releases and instruments as the Collateral Manager Borrower may reasonably request in order to effect the release and transfer of such Collateral; provided that, the Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Collateral in connection with such sale or transfer and assignment. Nothing in this section shall diminish the Borrower’s or the Collateral Manager’s obligations hereunder pursuant to Section 2(e) of the Collateral Management Agreement with respect to the Proceeds of any such sale.. [FS Investment] Loan and Security Agreement