Common use of Termination and Release of Rights Clause in Contracts

Termination and Release of Rights. (a) On each VFN Prepayment Date, the Administrative Agent shall, at the expense of the Borrower: execute such instruments of release with respect to the Prepayment Related Collateral, in recordable form if necessary, in favor of the Borrower as the Borrower may reasonably request; deliver any Prepayment Related Collateral in its possession to the Borrower; and otherwise take such actions, and/or cause or permit the Servicer to take such actions, at the Borrower's expense, as are necessary and appropriate to release the lien of this Agreement and release and deliver to the Borrower the Prepayment Related Collateral.

Appears in 4 contracts

Samples: Security and Funding Agreement (Americredit Corp), Security and Funding Agreement (Americredit Corp), Security and Funding Agreement (Americredit Corp)

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Termination and Release of Rights. (a1) On each VFN Prepayment Date, the Administrative Agent shall, at the expense of the Borrower: execute such instruments of release with respect to the Prepayment Related Collateral, in recordable form if necessary, in favor of the Borrower as the Borrower may reasonably request; deliver any Prepayment Related Collateral in its possession to the Borrower; and otherwise take such actions, and/or cause or permit the Servicer to take such actions, at the Borrower's expense, as are necessary and appropriate to release the lien of this Agreement and release and deliver to the Borrower the Prepayment Related Collateral.

Appears in 1 contract

Samples: Security Agreement (Americredit Corp)

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