Common use of Release of Lien on Loans Clause in Contracts

Release of Lien on Loans. If no Termination Event or Unmatured Termination Event has occurred and is continuing, at the same time as (i) any Transferred Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such Transferred Loan is replaced in accordance with Section 2.19(a), (iv) such Transferred Loan is repurchased in accordance with Section 2.19(b) or 2.4(c), (v) such Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.17, or (vi) this Agreement terminates in accordance with Section 12.6, the Deal Agent, as agent for the Secured Parties, will be deemed to automatically release its interest in such Loan without representation or warranty express or implied. In connection with any such prepayment, release or substitution, the Deal Agent, as agent for the Secured Parties will, after the deposit by the Servicer of the Proceeds of such event into the appropriate Collection Account, at the sole expense of the Servicer, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred Loan; provided, that, the Deal Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepayment, release or substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 with respect to the Proceeds of any such sale.

Release of Lien on Loans. If (a) there is no Overcollateralization Shortfall, and (b) no Termination Event or Unmatured Termination Event has occurred and is continuing, at the same time as (i) any Transferred Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such any Transferred Loan is replaced in accordance with Section 2.19(a2.18(a), (iv) such any Transferred Loan is repurchased in accordance with Section 2.19(b) or 2.4(c2.18(b), (v) such any Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.172.16, or (vi) this Agreement terminates in accordance with Section 12.6, the Deal AgentTrustee, as agent for on behalf of the Secured Parties, will be deemed to automatically release its interest in such Loan without representation or warranty express or implied. In connection with any such prepayment, release or substitution, the Deal AgentTrustee, as agent for on behalf of the Secured Parties Parties, will, after the deposit by the Servicer of the Proceeds of such event into the appropriate Collection Account, at the sole expense of the Servicer, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred Loan; provided, that, the Deal Agent, as agent for Trustee on behalf of the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepayment, release or substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 with respect to the Proceeds of any such sale.

Release of Lien on Loans. If (a) there is no Overcollateralization Shortfall, and (b) no Termination Event or Unmatured Termination Event has occurred and is continuing, at the same time as (i) any Transferred Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such any Transferred Loan is replaced in accordance with Section 2.19(a2.18(a), (iv) such any Transferred Loan is repurchased in accordance with Section 2.19(b) or 2.4(c2.18(b), (v) such any Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.172.16, or (vi) this Agreement terminates in accordance with Section 12.6, the Deal AgentTrustee, as agent for on behalf of the Secured Parties, will be deemed to automatically release its interest in such Loan without representation or warranty express or implied. In connection with any such prepayment, release or substitution, the Deal AgentTrustee, as agent for on behalf of the Secured Parties Parties, will, after the deposit by the Servicer of the Proceeds of such event into the appropriate Collection Account, at the sole expense of the Servicerinitial Servicer or any Affiliate of the initial Servicer if appointed as Successor Servicer hereunder, and otherwise at the expense of the Borrower, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred Loan; provided, that, provided that the Deal Agent, as agent for Trustee on behalf of the Secured Parties, Parties will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepayment, release or substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 with respect to the Proceeds of any such sale.

Release of Lien on Loans. If (i) there is no Overcollateralization Shortfall, and (ii) no Termination Event or Unmatured Termination Event has occurred and is continuing, at the same time as (i) any Transferred Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such Transferred Loan is replaced in accordance with Section 2.19(a)2.19, (iv) such Transferred Loan is repurchased in accordance with Section 2.19(b) or 2.4(c)4.3, (v) such Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.17, or (vi) this Agreement terminates in accordance with Section 12.6, the Deal Agent, as agent for the Secured Parties, will be deemed to automatically release its interest in such Loan without representation or warranty express or implied. In connection with any such prepaymentpayoff, release or substitution, the Deal Agent, as agent for the Secured Parties Parties, will, after the deposit by the Servicer of the Proceeds of such event into the appropriate Collection Account, at the sole expense of the Servicer, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred Loan; provided, that, the Deal Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepaymentpayoff, release or release, substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Loans. If no Termination Event or Unmatured Termination Event has occurred and is continuing, at the same time as (i) any Transferred Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such Transferred Loan is replaced in accordance with Section 2.19(a), (iv) such Transferred Loan is repurchased in accordance with Section 2.19(b) or 2.4(c), (v) such Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.17, or (vi) this Agreement terminates in accordance with Section 12.6, the Deal Agent, as agent for the Secured Parties, will be deemed to automatically release its interest in such Loan without representation or warranty express or implied. In connection with any such prepayment, release or substitution, the Deal Agent, as agent for the Secured Parties willParties, will after the deposit by the Servicer of the Proceeds of such event into the appropriate Collection Account, at the sole expense of the Servicer, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred Loan; provided, that, the Deal Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepayment, release or substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 6.6 with respect to the Proceeds of any such sale.

Release of Lien on Loans. If no Termination Event or Unmatured Termination Event has occurred and is continuing, at At the same time as (i) any Transferred Pledged Loan included in the Collateral expires by its terms and all amounts in respect thereof have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (ii) any Transferred Pledged Loan becomes a Prepaid Loan and all amounts in respect thereof (including without limitation, the entire Outstanding Loan Balance of such Prepaid Loan) have been paid in full by the related Obligor and deposited in the appropriate Collection Account, (iii) such Transferred a Pledged Loan is replaced released in accordance with Section 2.19(a)2.17, (iv) such Transferred the date following the Facility Termination Date on which the Commitments and this Agreement have been terminated and the Obligations have been reduced to zero and indefeasibly paid in full or (v) a Pledged Loan is repurchased in accordance with Section 2.19(b) or 2.4(c), (v) such Transferred Loan is subject to a Lien Release Dividend in accordance with Section 2.17, or (vi) this Agreement terminates in accordance with Section 12.64.33, the Deal Administrative Agent, as agent for the Secured Parties, will be deemed will, to automatically the extent requested by the Servicer, release its interest in such Pledged Loan without representation or warranty express or implied. In connection with any sale of such prepayment, release or substitutionRelated Property, the Deal Administrative Agent, as agent for the Secured Parties willParties, will after the deposit by the Servicer of the Proceeds of such event sale into the appropriate Collection Account, at the sole expense of the Servicer, execute and deliver to the Servicer any assignments, bills of sale, termination statements and any other releases and instruments as the Servicer may reasonably request in order to effect the release and transfer of the Related Property if such Related Property is not also serving as Collateral to secure the repayment of another Transferred LoanProperty; provided, that, the Deal Administrative Agent, as agent for the Secured Parties, will make no representation or warranty, express or implied, with respect to any such Related Property in connection with such prepayment, release sale or substitution. Nothing in this Section 8.2 shall diminish the Servicer’s obligations pursuant to Section 7.6 with respect to the Proceeds of any such saletransfer and assignment.