Common use of Release of Transaction Assets Clause in Contracts

Release of Transaction Assets. Provided that no Default or Event of Default shall exist (other than one that (a) relates solely to the Transaction Asset to be released and (b) will be cured simultaneously with or by such release) and that Seller shall have paid all sums then due under the Transaction relating thereto, upon (i) Seller’s payment in full of the Asset-Specific Transaction Balance with respect to such Transaction Asset to be released together with all accrued but unpaid Periodic Advance Repurchase Payments on the applicable Transaction to the date of payment and all other sums then due under such Transaction, and (ii) receipt by Buyer of a written request from Seller for the release of such Transaction Asset, Buyer shall as soon as practicable release (and Buyer shall reasonably cooperate with Seller to facilitate reasonable escrow arrangements to facilitate a simultaneous release of) the related Transaction Asset Documents and the related Transaction Asset and any Liens related thereto to Seller. Buyer shall with reasonable promptness, after a written request from Seller, execute any document or instrument necessary to effectuate such release.

Release of Transaction Assets. Provided that no Default or Event of Default shall exist (other than one that (a) relates solely to the Transaction Asset to be released and (b) will be cured simultaneously with or by such release) and that Seller shall have paid all sums then due under the Transaction relating thereto, upon (i) Seller’s 's payment in full of the Asset-Specific Transaction Balance with respect to such Transaction Asset to be released Repurchase Price together with all accrued but unpaid Periodic Advance Repurchase Payments on the applicable Transaction to the date of payment and all other sums then due under such Transaction, and (ii) receipt by Buyer of a written request from Seller for the release of such Transaction Asset, Buyer shall as soon as practicable release (and Buyer shall reasonably cooperate with Seller to facilitate reasonable escrow arrangements to facilitate a simultaneous release of) the related Transaction Asset Documents and the related Transaction Asset and any Liens related thereto to Seller. Buyer shall with reasonable promptness, after a written request from Seller, execute any document or instrument necessary to effectuate such release.