Common use of RELEASE OF RECEIVABLES FILES Clause in Contracts

RELEASE OF RECEIVABLES FILES. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed hereto as EXHIBIT B, to release to the Servicer the Receivables File related to any Receivable or the specific documents identified in such request to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee (for the benefit of the Noteholders and, to the extent set forth in the Indenture and the Sale and Servicing Agreement, the Certificateholder). Servicer shall return the Receivables File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed hereto as EXHIBIT B, the related Receivables File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivables File released to it within five (5) Business Days of such release and (ii) if such Receivables File has not been returned to the Custodian within such five (5) Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivables File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivables File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivables File, the aggregate Principal Balance of all Receivables having released Receivables Files in connection with modifications and extensions exceeds $500,000.

RELEASE OF RECEIVABLES FILES. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed hereto as EXHIBIT Exhibit B, to release to the Servicer the Receivables File related to any Receivable or the specific documents identified in such request to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee (for the benefit of the Noteholders and, to the extent set forth in the Indenture and the Sale and Servicing Agreement, the Certificateholder). Servicer shall return the Receivables File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed hereto as EXHIBIT Exhibit B, the related Receivables File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivables File released to it within five (5) Business Days of such release and (ii) if such Receivables File has not been returned to the Custodian within such five (5) Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivables File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivables File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivables File, the aggregate Principal Balance of all Receivables having released Receivables Files in connection with modifications and extensions exceeds $500,000.the

RELEASE OF RECEIVABLES FILES. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed hereto as EXHIBIT B, to release to the Servicer the Receivables File related to any Receivable or the specific documents identified in such request to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee (for the benefit of the Noteholders and, to the extent set forth in the Indenture and the Sale and Servicing Agreement, the CertificateholderCertificateholders). Servicer shall return the Receivables File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed hereto as EXHIBIT B, the related Receivables File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivables File released to it within five (5) Business Days of such release and (ii) if such Receivables File has not been returned to the Custodian within such five (5) Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivables File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivables File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivables File, the aggregate Principal Balance of all Receivables having released Receivables Files in connection with modifications and extensions exceeds $500,000.

RELEASE OF RECEIVABLES FILES. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed hereto as EXHIBIT Exhibit B, to release to the Servicer the Receivables File related to any Receivable or the specific documents identified in such request to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee (for the benefit of the Noteholders and, to the extent set forth in the Indenture and the Sale and Servicing Agreement, the Certificateholder)Trustee. Servicer shall return the Receivables File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed hereto as EXHIBIT Exhibit B, the related Receivables File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivables File released to it within five (5) Business Days of such release and (ii) if such Receivables File has not been returned to the Custodian within such five (5) Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivables File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivables File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivables File, the aggregate Principal Balance of all Receivables having released Receivables Files in connection with modifications and extensions exceeds $500,000.