Common use of RELEASE OF PURCHASED ASSETS Clause in Contracts

RELEASE OF PURCHASED ASSETS. Upon timely payment in full of the Repurchase Price and all other Obligations (if any) then owing with respect to a Purchased Asset pursuant to Section 3(f) hereof, unless a Margin Deficit or an Event of Default shall have occurred and be continuing: (a) Purchaser shall automatically and without any further action terminate any security interest that Purchaser may have in such Purchased Asset, (b) the Purchaser shall automatically and without further action sell and release to the Seller or the applicable Takeout Investor, as the case may be, such Purchased Asset, and (c) with respect to such Purchased Asset, Purchaser shall or shall direct Custodian to release such Purchased Asset to Seller or the applicable Takeout Investor, as the case may be. If such a Margin Deficit is applicable, Purchaser shall notify Seller of the amount thereof and Seller may thereupon satisfy the Margin Call in the manner specified in Section 7.

RELEASE OF PURCHASED ASSETS. Upon timely payment in full of the Repurchase Price and all other Obligations (if any) then owing with respect to a Purchased Asset pursuant to Section 3(f) hereofAsset, unless a Margin Deficit Default or an Event of Default shall have occurred and be continuing: , then (a) Purchaser Buyer shall automatically and without any further action terminate be deemed to have terminated any security interest that Purchaser Buyer may have in such Purchased Asset, Asset and any Purchased Items solely related to such Purchased Asset and (b) the Purchaser shall automatically and without further action sell and release to the Seller or the applicable Takeout Investor, as the case may be, such Purchased Asset, and (c) with respect to such Purchased Asset, Purchaser shall or Buyer shall direct Custodian to release such Purchased Asset and any Purchased Items solely related to such Purchased Asset to Seller unless such release and termination would give rise to or the applicable Takeout Investor, as the case may beperpetuate a Margin Deficit. If such release and termination gives rise to or perpetuates a Margin Deficit is applicableDeficit, Purchaser Buyer shall notify Seller of the amount thereof and Seller may shall thereupon satisfy the Margin Call in the manner specified in Section 76.

RELEASE OF PURCHASED ASSETS. Upon timely payment in full of the Repurchase Price and all other Obligations (if any) then owing with respect to a Purchased Asset pursuant to Section 3(f) hereofAssets, unless a Margin Deficit Default or an Event of Default shall have occurred and be continuing: , then (a) Purchaser Buyer shall automatically and without any further action terminate be deemed to have terminated any security interest that Purchaser Buyer may have in such Purchased Asset, Assets and any Purchased Items solely related to such Purchased Assets and (b) the Purchaser shall automatically and without further action sell and release to the Seller or the applicable Takeout Investor, as the case may be, such Purchased Asset, and (c) with respect to such Purchased AssetAssets, Purchaser shall or Buyer shall direct Custodian to release such Purchased Asset Assets and any Purchased Items solely related to such Purchased Assets to the related Seller unless such release and termination would give rise to or the applicable Takeout Investor, as the case may beperpetuate a Margin Deficit. If such release and termination gives rise to or perpetuates a Margin Deficit is applicableDeficit, Purchaser Buyer shall notify Seller the related Sellers of the amount thereof and Seller may Sellers shall thereupon satisfy the Margin Call in the manner specified in Section 76.

RELEASE OF PURCHASED ASSETS. Upon timely payment in full of the Repurchase Price and all other Obligations (if any) then owing with respect to a Purchased Asset pursuant to Section 3(f) hereof, unless a Margin Deficit or an Event of Default shall have occurred and be continuing: (a) Purchaser shall automatically and without any further action terminate any security interest that Purchaser may have in such Purchased Asset, (b) the Purchaser shall automatically and without further action sell and release to the Seller or the applicable Takeout Investor, as the case may be, such Purchased Asset, and (c) with respect to such Purchased Asset, Purchaser shall or shall direct Custodian to release such Purchased Asset to Seller or the applicable Takeout Investor, as the case may be. Except as set forth in Section 1617(f)(ii) and Section 1516, Seller shall give at least two (2) Business Days prior written notice to Purchaser if such repurchase shall occur on any date other than the Repurchase Date. If such a Margin Deficit is applicable, Purchaser shall notify Seller of the amount thereof and Seller may thereupon satisfy the Margin Call in the manner specified in Section 7.