Common use of Limitation on Release Clause in Contracts

Limitation on Release. Except to the extent expressly provided in this Clause 17 (Release of Collateral), the Note Trustee shall release the property from the security constituted by the Current Issuer Deed of Charge only upon receipt of a request from the Current Issuer accompanied by an Officers' Certificate, an Opinion of Counsel and certificates of independent parties in accordance with Trust Indenture Act Sections 314(c) and 314(d)(1) ("Independent Certificates") or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the Trust Indenture Act does not require any such Independent Certificates.

Appears in 9 contracts

Samples: Granite Mortgages 04-2 PLC, Granite Mortgages 04-2 PLC, Granite Mortgages 03-3 PLC

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Limitation on Release. Except to the extent expressly provided in this Clause 17 (Release of Collateral), the Note Trustee shall release the property from the security constituted by the Current Issuer Deed of Charge only upon receipt of a request from the Current Issuer accompanied by an Officers' Certificate, an Opinion of Counsel and certificates of independent parties in accordance with Trust Indenture Act Sections 314(c) and 314(d)(1) ("Independent CertificatesINDEPENDENT CERTIFICATES") or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the Trust Indenture Act does not require any such Independent Certificates.

Appears in 6 contracts

Samples: Granite Mortgages 02-2 PLC, Granite Mortgages 03-2 PLC, Granite Mortgages 03-1 PLC

Limitation on Release. Except to the extent expressly provided in this Clause 17 (Release of Collateral), the Note Trustee shall release the property from the security constituted by the Current Issuer Deed of Charge only upon receipt of a request from the Current Issuer accompanied by an Officers' Certificate, an Opinion of Counsel and certificates of independent parties in accordance with Trust Indenture Act Sections 314(c) and 314(d)(1) ("Independent CertificatesINDEPENDENT CERTIFICATES") or an Opinion of 36 Counsel in lieu of such Independent Certificates to the effect that the Trust Indenture Act does not require any such Independent Certificates.

Appears in 2 contracts

Samples: Granite Mortgages 03-1 PLC, Granite Mortgages 03-1 PLC

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Limitation on Release. Except to the extent expressly provided in this Clause 17 (Release of Collateral), the Note Trustee shall release the property from the security constituted by the Current Issuer Deed of Charge only upon receipt of a request from the Current Master Issuer accompanied by an Officers' Certificate, an Opinion of Counsel and certificates of independent parties in accordance with Trust Indenture Act Sections 314(c) and 314(d)(1) ("Independent Certificates") or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the Trust Indenture Act does not require any such Independent Certificates.

Appears in 1 contract

Samples: Granite Finance Trustees LTD

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