Common use of Release of Loan Assets Clause in Contracts

Release of Loan Assets. (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining thereto) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section 6.05 and 12.08(a) and any Portfolio Assets pertaining to such Loan Asset and (ii) any Collateral Portfolio that 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. The Trustee, for the benefit of the Secured Parties, shall at the sole expense of the Servicer, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit N) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee as described in the immediately preceding sentence, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining thereto) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section Sections 6.05 and 12.08(a) and any Portfolio Assets pertaining to such Loan Asset and (ii) any Collateral Portfolio that 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. The Trustee, for the benefit of the Secured Parties, shall at the sole expense of the Servicer, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit NM) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee as described in the immediately preceding sentence, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining thereto) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section Sections 6.05 and 12.08(a) and any Portfolio Assets pertaining to such Loan Asset and (ii) any Collateral Portfolio that 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. The Trustee, for the benefit of the Secured Parties, shall at the sole expense of the Servicer, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit N) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee as described in the immediately preceding sentence, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. The Lien granted created pursuant to this Agreement shall be automatically released with respect to the following: (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining theretoRelated Asset) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section 6.05 and 12.08(a2.07, (b) and any Portfolio Assets pertaining to such Loan Asset (and (iithe Related Asset) any Collateral Portfolio that expires by its terms and with respect to which all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection AccountAccount and (c) the entire Collateral following the Collection Date. The TrusteeCollateral Agent, for the benefit of the Secured Parties, shall shall, at the sole expense of the ServicerBorrower and at the direction of the Administrative Agent, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit NJ) (unless the Collateral Custodian and Collateral Agent are the same Person) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee Collateral Agent as described in the immediately preceding sentence, if applicable, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. The Lien granted created pursuant to this Agreement shall be automatically released with respect to the following: (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining theretoRelated Asset) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with and Section 6.05 and 12.08(a2.21, as applicable, (b) and any Portfolio Assets pertaining to such Loan Asset (and (iithe Related Asset) any Collateral Portfolio that expires by its terms and with respect to which all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection AccountAccount and (c) the entire Collateral following the Collection Date. The TrusteeCollateral Agent, for the benefit of the Secured Parties, shall shall, at the sole expense of the ServicerBorrower and at the direction of the Administrative Agent, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit NJ) (unless the Collateral Custodian and Collateral Agent are the same Person) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee Collateral Agent as described in the immediately preceding sentence, if applicable, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. The Lien granted created pursuant to this Agreement shall be automatically released with respect to the following: (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining theretoRelated Asset) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section 6.05 and 12.08(a2.07, (b) and any Portfolio Assets pertaining to such Loan Asset (and (iithe Related Asset) any Collateral Portfolio that expires by its terms and with respect to which all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection AccountAccount and (c) the entire Collateral following the Collection Date. The TrusteeCollateral Agent, for the benefit of the Secured Parties, shall shall, at the sole expense of the ServicerServicer and the Borrower and at the direction of the Administrative Agent, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit NJ) (unless the Collateral Custodian and Collateral Agent are the same Person) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee Collateral Agent as described in the immediately preceding sentence, if applicable, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.

Release of Loan Assets. The Lien granted pursuant to this Agreement shall be automatically released with the respect to the following: (a) The Borrower may obtain the release of (i) any Loan Asset (and the related Portfolio Assets pertaining theretoRelated Asset) released pursuant to a Lien Release Dividend, sold or substituted in accordance with the applicable provisions of Section 2.07 or liquidated in accordance with Section 6.05 and 12.08(a2.07, (b) and any Portfolio Assets pertaining to such Loan Asset (and (iithe Related Asset) any Collateral Portfolio that expires by its terms and with respect to which all amounts in respect thereof have been paid in full by the related Obligor and deposited in the Collection AccountAccount and (c) the entire Collateral following the Collection Date. The TrusteeCollateral Agent, for the benefit of the Secured Parties, shall shall, at the sole expense of the ServicerServicer and the Borrower and at the direction of the Administrative Agent, execute such documents and instruments of release as may be prepared by the Servicer on behalf of the Borrower, give notice of such release to the Collateral Custodian (in the form of Exhibit NJ) (unless the Collateral Custodian and Collateral Agent are the same Person) and take other such actions as shall reasonably be requested by the Borrower to effect such release of the Lien created pursuant to this Agreement. Upon receiving such notification by the Trustee Collateral Agent as described in the immediately preceding sentence, if applicable, the Collateral Custodian shall deliver the Required Loan Documents to the Borrower.