Sale of the Covered Bond Portfolio. (1) In the event of any sale of Portfolio Assets by or on behalf of the Guarantor pursuant to and in accordance with the Transaction Documents, such Portfolio Assets shall no longer form part of the Covered Bond Portfolio and the Bond Trustee shall, while any Covered Bonds are outstanding and if so requested in writing by the Guarantor, release, reassign or discharge those Portfolio Assets from the Security on or prior to the date of any such sale provided that:
(a) the Bond Trustee provides its prior written consent to the terms of such sale in accordance with the Guarantor Agreement; and
(b) in the case of the sale of Portfolio Assets, the Guarantor provides to the Bond Trustee a certificate confirming that the Portfolio Assets being sold are Randomly Selected Loans.
(2) In the event of the repurchase of a Portfolio Asset by the Seller pursuant to and in accordance with the Transaction Documents, the Bond Trustee shall release the Portfolio Asset from the Security on the date of the repurchase.
Sale of the Covered Bond Portfolio. (1) In the event of any sale of Loans and their Related Security by or on behalf of the Guarantor pursuant to and in accordance with the Transaction Documents, such Loans and their Related Security shall no longer form part of the Covered Bond Portfolio and the Bond Trustee shall, while any Covered Bonds are outstanding and if so requested in writing by the Guarantor, release, reassign or discharge those Loans and their Related Security from the Security on or prior to the date of any such sale provided that:
(a) the Bond Trustee provides its prior written consent to the terms of such sale in accordance with the Limited Partnership Agreement; and
(b) in the case of the sale of Loans and their Related Security, the Guarantor provides to the Bond Trustee a certificate confirming that the Loans and their Related Security being sold are Randomly Selected Loans.
(2) In the event of the repurchase of a Loan and its Related Security by the Seller pursuant to and in accordance with the Transaction Documents, the Bond Trustee shall release the Loan and its Related Security from the Security on the date of the repurchase.
Sale of the Covered Bond Portfolio. In the event of any sale of Loans and their Related Security by or on behalf of the Guarantor LP pursuant to and in accordance with the Transaction Documents, such Loans and their Related Security shall no longer form part of the Covered Bond Portfolio and the Bond Trustee shall, if so requested in writing by the Guarantor LP, release, reassign or discharge those Loans and their Related Security from the Security on or prior to the date of any such sale provided that:
(a) the Bond Trustee provides its prior written consent to the terms of such sale, if required, in accordance with the Guarantor LP Agreement; and
(b) in the case of the sale of Loans and their Related Security, the Guarantor LP provides to the Bond Trustee a certificate confirming that the Loans being sold are Randomly Selected Loans.
Sale of the Covered Bond Portfolio. (1) In the event of any sale of Loans and their Related Security by or on behalf of the Guarantor LP pursuant to and in accordance with the Transaction Documents, such Loans and their Related Security shall no longer form part of the Covered Bond Portfolio and the Bond Trustee shall, if so requested in writing by the Guarantor LP, release, reassign or discharge those Loans and their Related Security from the Security on or prior to the date of any such sale provided that:
(a) the Bond Trustee provides its prior written consent to the terms of such sale in accordance with the Guarantor LP Agreement; and
(b) in the case of the sale of Loans and their Related Security, the Guarantor LP provides to the Bond Trustee a certificate confirming that the Loans being sold are Randomly Selected Loans.
(2) In the event of the repurchase of a Loan and its Related Security by the Seller pursuant to and in accordance with the Transaction Documents, the Bond Trustee shall release the Loan and its Related Security from the Security on the date of the repurchase.
