Examples of Collateral Release Request in a sentence
The Collateral Release Request shall not result in a termination of all or any part of the Credit Facility.
The Collateral Release Request shall be accompanied by (and shall not be effective unless it is accompanied by) the name, address and location of the Mortgaged Property to be released from the Collateral Pool (“Collateral Release Property”).
Any failure of any removal and release requested by the Borrower to meet all of the Release Conditions shall be deemed a rejection of the proposed Collateral Release Request and, subject to the other terms and conditions hereof as to whether any Individual Property is a Borrowing Base Property, such Borrowing Base Property shall remain a Borrowing Base Property hereunder and shall be included within the Collateral.
No Event of Default shall exist under this Agreement or the other Loan Documents at the time of the Collateral Release Request or at the time of any such release, except for any Event of Default which is cured or remedied by the removal of such Individual Property from being a Borrowing Base Property.
Each Collateral Release Request shall be delivered in writing together with such customary documents as may be required by the Custodian and/or the Collateral Agent in accordance with their customary procedures which shall be reasonably acceptable to such Grantor, which procedures shall be deemed to be incorporated by reference in this Agreement as if set forth in full herein.