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”).
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.
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.
The Collateral Agent and/or the Administrative Agent upon a reasonable basis may disagree with and dispute any request for a Collateral Transfer, any Collateral Release Request, Borrowing Base Report, or other notice or information at any time.