Final Payout Date. The Collateral Agent shall, on or after the Final Payout date, release any remaining portion of the Collateral from the security interest created by this Agreement and deposit in the Collection Account any funds then on deposit in the Reserve Account, the Lockbox Account and the Funding Account. The Collateral Agent shall release property from the security interest created by this Agreement pursuant to this Section 4.6 only upon receipt of an Officer’s Certificate from the Deal Agent stating that the Final Payout Date has occurred (which notice shall be provided by the Deal Agent upon the reasonable request of the Borrower delivered after the Final Payout Date).
Appears in 2 contracts
Sources: Receivables Funding Agreement (Americredit Corp), Receivables Funding Agreement (Americredit Corp)