Common use of Release of Released Amounts Clause in Contracts

Release of Released Amounts. (a) The Indenture Trustee hereby agrees to release to the Issuer from the Pledged Assets an amount equal to the Released Amounts immediately upon identification thereof and upon receipt of an Officer's Certificate of the Servicer, which release shall be automatic and shall require no further act by the Indenture Trustee, provided that the Indenture Trustee shall execute and deliver such instruments of release and assignment, or otherwise confirm the foregoing release, as may reasonably be requested by (and at the expense of the Servicer) the Issuer in writing and prepared by the Servicer. Upon such release, such Released Amounts shall not constitute and shall not be included in the Pledged Assets.