Common use of Release for Servicing Clause in Contracts

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default), upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative Agent, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Agent in accordance with the terms of this Agreement. The Collateral Manager shall return to the Collateral Agent the Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default), or (ii) when the Collateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Collateral Agent in the form annexed hereto as Exhibit E , the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent to the Collateral Manager.

Appears in 1 contract

Samples: Loan and Security Agreement (Oaktree Specialty Lending Corp)

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Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Document Agent is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default)Agent) to, and shall, upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments Required Loan Documents or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Administrative Agent on behalf of the Secured Parties, in accordance with the terms of this Agreement. The Collateral Manager shall return to the Collateral Document Agent the Underlying Instruments Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Collateral Document Agent in the form annexed hereto as Exhibit E E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Document Agent to the Collateral Manager.

Appears in 1 contract

Samples: Security and Collateral Management Agreement (Phillip Street Middle Market Lending Fund LLC)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default)Agent) to, and shall, upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentG, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments Related Documents or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Administrative Agent in accordance with the terms of this Agreement. The Collateral Manager shall return to the Collateral Agent Custodian the Underlying Instruments Related Documents or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral Manager’s 's need therefor in connection with such enforcement or servicing no longer exists, unless the Collateral Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Collateral Agent Custodian in the form annexed hereto as Exhibit E G, the Collateral Manager’s 's request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent Custodian to the Collateral Manager.

Appears in 1 contract

Samples: Credit and Security Agreement (PennantPark Floating Rate Capital Ltd.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence 115 of an Event of Default), upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Agent in accordance with the terms of this Agreement. The Collateral Manager shall return to the Collateral Agent the Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default), or (ii) when the Collateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Collateral Agent in the form annexed hereto as Exhibit E E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent to the Collateral Manager.

Appears in 1 contract

Samples: Loan and Security Agreement (Crescent Capital BDC, Inc.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of DefaultAgent), upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Administrative Agent in accordance with the terms of this Agreement. The Collateral Manager shall return to the Collateral Agent Custodian the Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral Manager’s need therefor in USActive 37382726.2937382726.32 113 connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Collateral Agent Custodian in the form annexed hereto as Exhibit E E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent Custodian to the Collateral Manager.. (b)

Appears in 1 contract

Samples: Loan and Security Agreement (New Mountain Finance Corp)

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Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Document Custodian and the Collateral Agent is Administrator are hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default)Agent) to, and shall, upon written receipt from the Collateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments applicable Related Documents delivered to it or the documents set forth in such request and receipt to the Collateral Manager. All documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Collateral Administrative Agent in accordance with the terms of this Agreement. The Collateral Manager shall return to the Document Custodian or the Collateral Agent Administrator, as 750499896 22723957 751700376 22723957 applicable, the Underlying Instruments Related Documents held by such party or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Collateral Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Document Custodian and the Collateral Agent Administrator, as applicable, in the form annexed hereto as Exhibit E E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Document Custodian and the Collateral Agent Administrator, as applicable, to the Collateral Manager.

Appears in 1 contract

Samples: Credit Agreement (Main Street Capital CORP)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default)Agent) to, and shall, upon written receipt from the Collateral InvestmentCollateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral InvestmentCollateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments Required Loan Documents or the documents set forth in such request and receipt to the Collateral InvestmentCollateral Manager. All documents so released to the Collateral InvestmentCollateral Manager shall be held by the Collateral InvestmentCollateral Manager in trust for the benefit of the Collateral Administrative Agent on behalf of the Secured Parties, in accordance with the terms of this Agreement. The Collateral InvestmentCollateral Manager shall return to the Collateral Agent Custodian the Underlying Instruments Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral InvestmentCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral InvestmentCollateral Manager to the Collateral Agent Custodian in the form annexed hereto as Exhibit E E, the Collateral InvestmentCollateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent Custodian to the Collateral InvestmentCollateral Manager.

Appears in 1 contract

Samples: And Investment Management Agreement (Investcorp Credit Management BDC, Inc.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Collateral, the Collateral Agent Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent after the occurrence of an Event of Default)Agent) to, and shall, upon written receipt from the Collateral InvestmentCollateral Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit E signed by the Collateral Manager and the Administrative AgentE, to release to the Collateral InvestmentCollateral Manager within two (2) Business Days of receipt of such request, the related Underlying Instruments Required Loan Documents or the documents set forth in such request and receipt to the Collateral InvestmentCollateral Manager. All documents so released to the Collateral InvestmentCollateral Manager shall be held by the Collateral InvestmentCollateral Manager in trust for the benefit of the Collateral Administrative Agent on behalf of the Secured Parties, in accordance with the terms of this Agreement. The Collateral InvestmentCollateral Manager shall return to the Collateral Agent Document Custodian the Underlying Instruments Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent (after the occurrence of an Event of Default)Agent, or (ii) when the Collateral InvestmentCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the Loan shall be liquidated or sold, in which case, upon receipt of an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral InvestmentCollateral Manager to the Collateral Agent Document Custodian in the form annexed hereto as Exhibit E E, the Collateral InvestmentCollateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Agent Document Custodian to the Collateral InvestmentCollateral Manager.

Appears in 1 contract

Samples: And Investment Management Agreement (Investcorp US Institutional Private Credit Fund)

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