Release of Loan Documents Sample Clauses

Release of Loan Documents. From time to time as is appropriate for the servicing or foreclosure of a Loan or the acquisition of Mortgaged Properties in lieu of foreclosure or for the making of any claim against or collection under any Mortgage Insurance policy, Hazard Insurance policy, other insurance policy, Servicer's fidelity bond, Servicer's errors and omissions policy, or for purposes of effecting a partial release of any Mortgaged Property from the lien of the, mortgage or for making any corrections to the mortgage note or the mortgage or other Loan Documents, Servicer shall deliver to the Custodian, or, if the Owner is acting as its own custodian, to the Owner, an officer's certificate of Servicer certifying as to the reason for such release and designating the Loan Documents requested to be released to Servicer. Within days of receipt of the foregoing, Owner shall deliver or cause Custodian to deliver to Servicer the Loan Documents so requested. Servicer shall cause the Loan Documents so released to be returned to the Custodian or Owner, as applicable, when the need therefor by Servicer no longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof are deposited in the Collection Account. Upon receipt of an Officer's Certificate of Servicer stating that such Mortgage Loan was liquidated and the Liquidation Proceeds were deposited in the Collection Account, the servicing receipt shall be released by the Custodian or Owner, as applicable, to Servicer. Servicer shall retain possession of any Loan Documents that have been released to Servicer by the Custodian or Owner, as applicable, at all times unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Collection Account, (ii) the Loan Documents have been delivered to an attorney or to a public trustee or other public official as required by law for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property or (iii) Servicer's need therefor no longer exists and Servicer returns the Loan Documents to the Custodian or Owner, as applicable, pursuant to the previous paragraph. Loan Documents held by Servicer are and shall be held in trust by Servicer for the benefit of Owner as the owner thereof and Servicer's possession of the Mortgage Loan Documents so retained is at the will of Owner for the sole purpose of servicing the related Loan, and such retention and possession by Servicer...

AutoNDA by SimpleDocs

Release of Loan Documents. In connection with the reallocation of the Existing Revolving Loans pursuant to Section 2.5 and the amendment and restatement of the Existing Credit Agreement pursuant to Section 10.17, each Lender and the Administrative Agent hereby agrees, confirms and ratifies, for the benefit of LCP (which shall be a third party beneficiary of this Section), that (i) all obligations, guaranties and other amounts of any and every kind owing by LCP under the Released Loan Documents are hereby satisfied in full and irrevocably discharged, terminated and released; (ii) each of the Released Loan Documents are hereby terminated and are of no further force or effect, other than those provisions therein that specifically survive termination pursuant to the specific terms thereof; (iii) all security interests and other liens granted to or held by the Administrative Agent under the Released Loan Documents are hereby forever and irrevocably satisfied, released and discharged; (iv) LCP is hereby authorized to file UCC termination statements for all UCC financing statements filed against LCP with respect to the security interests and other liens granted under the Released Loan Documents; and (v) the Administrative Agent shall take, at the Borrower’s expense, all reasonable additional steps (including executing and delivering additional documents, instruments or releases) requested by LCP as may be necessary or advisable to release the security interests and other liens granted under the Released Loan Documents and to further evidence the termination of all instruments of record with respect thereto.

Release of Loan Documents. (a) To the Loan Originator. The Custodian is hereby authorized to release Loan Documents relating to Loans in the possession of the Custodian to the Loan Originator, or its designee, against a Request for Release and Receipt executed by the Loan Originator and consented to by the Initial Class A Certificateholder in the form of Annex 2-A hereto, for the purpose of (i) effecting repurchases or substitutions of Loans by the Loan Originator in accordance with Sections 3.05 and 4.05 of the Trust and Servicing Agreement or (ii) correcting documentary deficiencies relating thereto. In the Request for Release and Receipt, the Loan Originator or its designee shall agree to return to the Custodian each document previously released from the Custodial Loan File pursuant to subclause (ii) of the preceding paragraph within 10 calendar days of receipt thereof. In the Request for Return and Receipt, the Loan Originator shall represent and warrant to the Owner Trustee that any such request by the Loan Originator for release of Loan Documents for correction of documentary deficiencies shall be solely for the purposes of correcting such deficiencies in preparation for returning such Loan Documents to the Custodian and that the Loan Originator has requested such release in compliance with all terms and conditions of such release set forth in the Trust and Servicing Agreement.

Release of Loan Documents. Notwithstanding any other provision of this Indenture or the Servicing Agreement, so long as the Series A Variable Funding Notes are outstanding and held by CSFB, neither AutoBond nor any Affiliate shall request the Trustee to release, and the Trustee shall not release, any Loan Documents from its custody, without the prior consent of CSFB.

Related to Release of Loan Documents

Revocation of Loan Documents Any Loan Party shall (or shall attempt to) disavow, revoke or terminate any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority the validity or enforceability of any Loan Document or any Loan Document shall cease to be in full force and effect (except as a result of the express terms thereof).
Reaffirmation of Loan Documents Any and all of the terms and provisions of the Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in full force and effect. This Amendment shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations as it may be increased pursuant hereto. This Amendment constitutes a Loan Document.
Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.
Modification of Loan Documents At any time or from time to time and any number of times, without notice to Guarantor and without affecting the liability of Guarantor, all of the following will apply: (a) Lender may extend the time for payment of the principal of or interest on the Indebtedness or renew the Indebtedness in whole or in part. (b) Lender may extend the time for Borrower’s performance of or compliance with any covenant or agreement contained in the Note, the Loan Agreement or any other Loan Document, whether presently existing or entered into after the date of this Guaranty, or waive such performance or compliance. (c) Lender may accelerate the Maturity Date of the Indebtedness as provided in the Note, the Loan Agreement, or any other Loan Document. (d) Lender and Borrower may modify or amend the Note, the Loan Agreement, or any other Loan Document in any respect, including an increase in the principal amount. (e) Lender may modify, exchange, surrender or otherwise deal with any security for the Indebtedness or accept additional security that is pledged or mortgaged for the Indebtedness.
Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.
Loan Documents The Requisite Lenders may direct the Administrative Agent to, and the Administrative Agent if so directed shall, exercise any and all of its rights under any and all of the other Loan Documents.
Other Loan Documents Each of the conditions precedent set forth in the other Loan Documents shall have been satisfied.
Perform Loan Documents Borrower shall observe, perform and satisfy all the terms, provisions, covenants and conditions of, and shall pay when due all costs, fees and expenses to the extent required under the Loan Documents executed and delivered by, or applicable to, Borrower.
Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:
Execution of Loan Documents; Borrowing Base Certificate The Borrowers hereby empower and authorize the Borrower Representative, on behalf of the Borrowers, to execute and deliver to the Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents, including, without limitation, the Borrowing Base Certificates and the Compliance Certificates. Each Borrower agrees that any action taken by the Borrower Representative or the Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Borrower Representative of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Borrowers.