Release of Loan Files. ACAS may, at any time during any Holding Period, upon written notice in substantially the form attached hereto as Exhibit D and in accordance with Section 1.01 above, require that the Custodian release to ACAS or its designee any or all of the Loan Files previously delivered by ACAS to the Custodian. Upon written notice (the “Termination Notice”) by ACAS to the Custodian to release all of the Loan Files and terminate this Agreement, this Agreement shall terminate (other than the Custodian’s rights to indemnification) upon Custodian’s release and ACAS’ receipt of all of the Loan Files.
Release of Loan Files. If with respect to any Loan:
(i) the outstanding Principal Balance of such Loan plus all interest accrued thereon shall have been paid;
(ii) the Servicer shall have received, in escrow, payment in full of such Loan in a manner customary for such purposes;
(iii) such Loan has become a Defective Loan and has been repurchased or a Qualified Substitute Loan has been conveyed to the Trust pursuant to SECTION 3.05 hereof;
(iv) such Loan or the related Foreclosure Property has been sold in connection with the termination of the Trust pursuant to SECTION 11.01 hereof;
(v) such Loan has been purchased by the Loan Originator in accordance with the terms of SECTION 3.07;
(vi) the related Foreclosure Property has been sold pursuant to SECTION 4.11 hereof; or
(vii) such Loan has been included in a Securitization and concurrently with such release the Securitization Proceeds associated therewith will be deposited into the Collection Account. In each such case, the Servicer shall deliver a certificate to the effect that the Servicer has complied with all of its obligations under this Agreement with respect to such Loan and requesting that the Indenture Trustee release to the Servicer the related Indenture Trustee's Loan File, and the Indenture Trustee shall, within five Business Days or such shorter period as may be required by applicable law, release, or cause the Custodian to release (unless such Indenture Trustee's Loan File has previously been released), the related Indenture Trustee's Loan File to the Servicer and execute and deliver such instruments of transfer or assignment prepared and delivered to it by the Servicer, in each case without recourse, representation or warranty as shall be necessary to vest ownership of such Loan in the Servicer or such other Person as may be specified in such certificate, the forms of any such instrument to be appended to such certificate.
Release of Loan Files. From time to time and as appropriate for the servicing of any of the Loan, the Custodian is hereby authorized, upon receipt of a written request and receipt of the Servicer in substantially the form annexed as Annex 4 (a “Request for Release”), accompanied by the written consent of the Administrative Agent, to release to the Servicer within three (3) Business Days after receipt of such Request for Release, the related Loan File or the Loan Documents from a Loan File requested in such Request for Release. The Administrative Agent agrees to respond, within eight (8) Business Days of receipt, to any Request for Release properly completed and submitted by the Servicer. All Loan Files and/or Loan Documents so released to the Servicer shall be held by the Servicer in trust for the benefit of the Administrative Agent. The Servicer shall return to the Custodian each Loan File and/or Loan Document released to the Servicer when the Servicer’s need therefor (as specified on the applicable Request for Release) no longer exists and the Servicer shall notify the Administrative Agent thereof. Upon the redelivery of any Loan File or any Loan Document therefrom previously delivered to the Servicer in accordance with the terms and provisions of this Custodial Agreement, the Custodian shall promptly accept redelivery of the related Loan File from the Servicer, as delivered and specified in the applicable Request for Release. The Custodian will confirm delivery or re-delivery of the Loan Files and/or Loan Documents specified on Attachment A of such Request for Release via fascimile to the Administrative Agent and the Servicer. A release by the Custodian to the Servicer under this Section 5 shall not constitute a release of the Administrative Agent’s Lien on any Collateral so delivered to the Servicer by the Custodian.
Release of Loan Files. The Seller may, with the prior written consent of the Deal Agent (such consent not to be unreasonably withheld), require that the Collateral Custodian release each Loan File (a) delivered to the Collateral Custodian in error, (b) for which a Substitute Loan has been substituted in accordance with Section 2.9, (c) as to which the lien on the Related Property has been so released pursuant to Section 5.3, (d) which has been retransferred to the Seller pursuant to Section 5.5 or 5.6, or (e) which is required to be redelivered to the Seller in connection with the termination of this Agreement, in each case by submitting to the Collateral Custodian and the Deal Agent a written request (signed by both the Seller and the Deal Agent) specifying the Loans to be so released and reciting that the conditions to such release have been met (and specifying the Section or Sections of this Agreement being relied upon for such release). The Collateral Custodian shall upon its receipt of each such request for release executed by the Seller and the Deal Agent promptly, but in any event within 5 Business Days, release the Loan Files so requested to the Seller.
Release of Loan Files. Upon any payment in full of a Loan, the Servicer shall promptly forward to the Seller (unless the Buyer has recorded a change in ownership, then the Buyer) any documentation, so that Seller (unless the Buyer has recorded a change in ownership, then the Buyer) may execute, or cause to be executed, an instrument of satisfaction regarding the related Mortgage (if applicable) and any other related Loan Documents, which instrument of satisfaction may be sent for recording by the Servicer if directed by the Seller (unless the Buyer has recorded a change in ownership, then the Buyer) and required by applicable Law and shall be delivered to the Person entitled thereto, it being understood and agreed that all reasonable expenses incurred by the Servicer in connection with such instruments of satisfaction shall be reimbursed by the Seller.
Release of Loan Files. (a) In the event that any Loan File is needed by the Company or a Subsidaryfor the purpose of correction of errors therein or for one of the other purposes set forth in a Request for Release, the Company shall send or cause to be sent to the Document Custodian a Request for Release. The Document Custodian shall release such Loan Files within three (3) Business Days of its receipt of such completed Request for Release. Any request for release by the Company (on behalf of itself or a Subsidiary) shall be in the form of the Request for Release.
(b) The Company is authorized to transmit and the Document Custodian is authorized to accept signed facsimile or email copies of Requests for Release submitted in the form attached hereto as Exhibit B (or as otherwise agreed between the Document Custodian and the Company).
Release of Loan Files. If with respect to any Loan:
(i) such Loan has become a Defective Loan and has been repurchased or a Qualified Substitute Loan has been conveyed to the Trust pursuant to Section 3.06 hereof; -77- 83
(ii) such Loan or the related Foreclosure Property has been sold in connection with the termination of the Trust pursuant to Section 10.01 hereof;
(iii) such Loan has been purchased by the related Loan Originator in accordance with the terms of Section 3.08; or
(iv) such Loan has been included in a Disposition and concurrently with such release the cash Disposition Proceeds associated therewith will be deposited into the Collection Account, then, in each such case, the Servicer shall deliver a certificate to the effect that the Servicer has complied with all of its obligations under this Agreement with respect to such Loan and requesting that the Indenture Trustee release to the Servicer the related Custodial Loan File, and the Indenture Trustee shall, within five Business Days or such shorter period as may be required by applicable law, release, or cause the Custodian to release (unless such Custodial Loan File has previously been released), the related Custodial Loan File to the Servicer and execute and deliver such instruments of transfer or assignment prepared and delivered to it by the Servicer, in each case without recourse, representation or warranty as shall be necessary to vest ownership of such Loan in the Servicer or such other Person as may be specified in such certificate, the forms of any such instrument to be appended to such certificate.
Release of Loan Files. Upon any payment in full of a Loan and the Owner’s approval, the Owner shall provide the Servicer with a power of attorney, so that the Servicer may execute, or cause to be executed, an instrument of satisfaction regarding the related Mortgage (if applicable) and any other related Loan Documents, which instrument of satisfaction may be sent for recording by the Servicer if directed by the Owner and required by applicable Law and shall be delivered to the Person entitled thereto, it being understood and agreed that all reasonable out-of-pocket expenses incurred by the Servicer in connection with such instruments of satisfaction shall be reimbursed from amounts at the time deposited in the Servicer Account.
Release of Loan Files. If with respect to any Loan:
(i) the outstanding Principal Balance of such Loan plus all interest accrued thereon shall have been paid;
(ii) such Loan has become a Defective Loan and has been repurchased or a Qualified Substitute Loan has been conveyed to the Trust pursuant to Section 4.05 hereof;
(iii) such Loan or the related Foreclosure Property has been sold in connection with the termination of the Trust pursuant to Section 16.01 hereof;
(iv) such Loan has been purchased by the Loan Originator in accordance with the terms of Section 4.07;
Release of Loan Files. ACS may, at any time during any Holding Period, upon written request, require that the Custodian release any or all of the Loan Files delivered by ACS and being held during such Holding Period to it or its designee. Upon written notice (the "Termination Notice") by ACS to the Custodian to release all of the Loan Files, this Agreement shall terminate (other than the Custodian's rights to indemnification) and the respective Loan Files shall be effectively released from this Agreement. ARTICLE II
