Common use of Release of Trust Property Clause in Contracts

Release of Trust Property. (a) Subject to Section 8.10 and the payment of its fees and expenses pursuant to Section 6.7, the Trustee may, and when required by the Issuer and the provisions of this Pooling Agreement shall, execute instruments to release property from the lien of this Pooling Agreement, in a manner and under circumstances that are not inconsistent with the provisions of this Pooling Agreement or the Sale and Servicing Agreement. No party relying upon an instrument executed by the Trustee as provided in this Article VIII shall be bound to ascertain the Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any monies. (b) The Trustee shall, at such time as there are no Securities outstanding and all sums due the Trustee pursuant to Section 6.7, to Xxxxxxx Mac pursuant to this Pooling Agreement and to the Insurer pursuant to the Insurance Agreement have been paid, release any remaining portion of the Trust Property that secured the Securities from the lien of this Pooling Agreement and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Accounts. The Trustee shall release property from the lien of this Pooling Agreement pursuant to this Section 8.2(b) only upon receipt of an Issuer Request accompanied by an Officer's Security, an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA xx.xx. 314(c) and 314(d)(1) meeting the applicable requirements of Section 11.

Release of Trust Property. (a) Subject to Section 8.10 and the payment of its fees and expenses pursuant to Section 6.7, the Indenture Trustee may, and when required by the Issuer and the provisions of this Pooling Agreement Indenture shall, execute instruments to release property from the lien of this Pooling AgreementIndenture, in a manner and under circumstances that are not inconsistent with the provisions of this Pooling Agreement or the Sale and Servicing AgreementIndenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any monies. (b) The Indenture Trustee shall, at such time as there are no Securities Notes outstanding and all sums due the Indenture Trustee pursuant to Section 6.7, to Xxxxxxx Mac pursuant to this Pooling Agreement and to the Insurer pursuant to the Insurance Agreement 6.7 have been paid, release any remaining portion of the related Series Trust Property Estate that secured the Securities Notes from the lien of this Pooling Agreement Indenture and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Trust Accounts. The Indenture Trustee shall release property from the lien of this Pooling Agreement Indenture pursuant to this Section 8.2(b) only upon receipt of an Issuer Request accompanied by an Officer's SecurityCertificate, an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA xx.xx. Sections 314(c) and 314(d)(1) meeting the applicable requirements of Section 1111.1.

Release of Trust Property. (a) Subject to Section 8.10 and the payment of its fees and expenses pursuant to Section 6.7, the Indenture Trustee maymay after the Termination Date, and when required by the Issuer and the provisions of this Pooling Agreement Indenture shall, and shall cause the Trust Collateral Agent to execute instruments to release property from the lien of this Pooling AgreementIndenture, in a manner and under circumstances that are not inconsistent with the provisions of this Pooling Agreement or the Sale and Servicing AgreementIndenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee's authority, inquire into the satisfaction of any conditions precedent or see to the application of any moniesmoneys. (b) The Indenture Trustee shall, at such time as there are no Securities Notes outstanding and all amounts owing to the Note Insurer under the Basic Documents have been paid and all sums due the Indenture Trustee pursuant to Section 6.7, to Xxxxxxx Mac pursuant to this Pooling Agreement and to the Insurer pursuant to the Insurance Agreement 6.7 have been paid, release any remaining portion of the Trust Property that secured the Securities Collateral from the lien of this Pooling Agreement Indenture and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Trust Accounts. The Indenture Trustee shall release property from the lien of this Pooling Agreement Indenture pursuant to this Section 8.2(b) only upon receipt of an Issuer Request accompanied by an Officer's SecurityCertificate, an Opinion of Counsel and (if required by the TIA) Independent Certificates in accordance with TIA xx.xxss.ss. 314(c) and 314(d)(1) meeting the applicable requirements of Section 11Secxxxx 11.1.