Return of Collateral at End of Commitments. If (a) the Commitments have expired or been terminated, and (b) no Advances, interest or other Obligations are outstanding and unpaid, Credit Agent will release its security interest and will deliver all Collateral in its possession to Borrowers at Borrowers’ expense. Borrowers’ acknowledgement or receipt for any Collateral released or delivered to Borrowers under any provision of this Agreement is a complete and full acquittance for the Collateral so returned, and Credit Agent is discharged from any liability or responsibility for that Collateral.
Appears in 2 contracts
Samples: Warehousing Credit and Security Agreement (Lennar Corp /New/), Warehousing Credit and Security Agreement (Lennar Corp /New/)
Return of Collateral at End of Commitments. If (a) the Commitments have expired or been terminated, and (b) no Advances, interest or other Obligations are outstanding and unpaid, Credit Agent will release its security interest and will deliver all Collateral in its possession to Borrowers at Borrowers’ ' expense. Borrowers’ ' acknowledgement or receipt for any Collateral released or delivered to Borrowers under any provision of this Agreement is a complete and full acquittance for the Collateral so returned, and Credit Agent is discharged from any liability or responsibility for that Collateral.
Appears in 2 contracts
Samples: Warehousing Credit, Term Loan and Security Agreement (American Home Mortgage Investment Corp), Warehousing Credit, Term Loan and Security Agreement (American Home Mortgage Investment Corp)
