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 Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) of a request for release of documents and receipt in the form annexed hereto as Exhibit H, to release to the Services Provider within five Business Days of receipt of such request, the relevant Related Contracts set forth in such request. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall return to the Document Custodian the Related Contracts when the Services Provider’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.

Appears in 18 contracts

Samples: Credit Agreement (Blue Owl Credit Income Corp.), Credit Agreement (Blue Owl Technology Income Corp.), Credit Agreement (Blue Owl Technology Finance Corp. II)

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Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE-1 a (“Request for Release of Related Documents”), to release to the Services Provider Collateral Manager within five two Business Days of receipt of such request, the relevant Related Contracts Documents or the documents set forth in such requestRequest for Release of Related Documents. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Custodian the Related Contracts Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized representative . Upon receipt of a certificate of the Services Provider Collateral Manager substantially in the form of Exhibit E-2 (as listed on Exhibit Ka “Certificate for Release of Related Documents”), as such exhibit may be amended from time to time by the Services Provider with notice a copy to the Administrative Agent (who shall forward a copy to the Collateral Agent), stating that such Collateral Loan was either (x) liquidated and that all amounts received or to be received in connection with such liquidation that are required to be deposited have been so deposited, (y) sold pursuant to a sale in accordance with Section 10.01, or (z) repurchased or substituted in accordance with Section 10.03, the Document Custodian shall within three (3) Business Days of its receipt of such Certificate for Release of Related Documents, release the requested Related Documents to the Collateral Agent Manager, and the Collateral Manager will not be required to return the Related Documents to the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H..

Appears in 5 contracts

Samples: Credit and Security Agreement (Monroe Capital Income Plus Corp), Revolving Credit and Security Agreement (Monroe Capital Income Plus Corp), Credit and Security Agreement (Monroe Capital Income Plus Corp)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsCollateral Portfolio, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider Borrower (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, or the Collateral Agent and the Document CustodianManager on its behalf) of a request for release of documents and receipt in the form annexed hereto as Exhibit HM, to release to the Services Provider Borrower (or the Collateral Manager on its behalf) within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents or the documents set forth in such requestrequest and receipt to such Person. All documents so released to the Services Provider shall be held by the Services Provider Borrower (or the Collateral Manager on its behalf) in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Borrower (or the Collateral Manager on its behalf) shall return to the Document Collateral Custodian the Related Contracts Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderBorrower’s need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Loan shall be liquidated, in which case, an authorized representative of the Services Provider Borrower (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, or the Collateral Agent and the Document CustodianManager on its behalf) shall deliver an additional request for release of documents to the Document Collateral Custodian and receipt certifying such liquidation from the Services Provider Borrower (or the Collateral Manager on its behalf) to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.M.

Appears in 4 contracts

Samples: Loan and Servicing Agreement (FS Investment Corp II), Loan and Servicing Agreement (FS Energy & Power Fund), Loan and Servicing Agreement (FS Investment Corp II)

Release for Servicing. (a) From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt to such Servicer. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Such Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicers to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within three (3) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 4 contracts

Samples: Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3), Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-5), Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsPortfolio Asset, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative AgentAgent during the continuation of an Event of Default), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Portfolio Asset Servicer of a request for release of documents and receipt in the form annexed hereto as of Exhibit HE, to release to the Services Provider Portfolio Asset Servicer within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents and any other Loan Asset File held by the Collateral Custodian or the documents set forth in such request. All documents so released to the Services Provider Portfolio Asset Servicer shall be held by the Services Provider Portfolio Asset Servicer in trust for the benefit of the Collateral Administrative Agent, on behalf of the Secured Parties Parties, in accordance with the terms of this Agreement. The Services Provider Portfolio Asset Servicer shall return to the Document Collateral Custodian such Required Loan Documents and any other Loan Asset Files held by the Related Contracts Collateral Custodian or other such documents (i) promptly upon the request of the Administrative Agent during the continuation of an Event of Default or (ii) when the Services ProviderPortfolio Asset Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be related Portfolio Asset is liquidated, in which case, an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Portfolio Asset Servicer shall deliver an additional request for release of documents to the Document Collateral Custodian and receipt certifying such liquidation from the Services Provider Portfolio Asset Servicer to the Collateral Agent and the Document CustodianAdministrative Agent, all in the form annexed hereto as of Exhibit H.E.

Appears in 4 contracts

Samples: Loan and Servicing Agreement (Carlyle Credit Solutions, Inc.), Loan and Servicing Agreement (Carlyle Credit Solutions, Inc.), Loan and Servicing Agreement (TCG BDC II, Inc.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Manager within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, Administrative Agent on behalf of the Secured Parties Parties, in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Custodian the Related Contracts Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Manager to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Document Custodian to the Collateral Manager.

Appears in 3 contracts

Samples: Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), Loan and Security Agreement (Cim Real Estate Finance Trust, Inc.), And Collateral Management Agreement (First Eagle Credit Opportunities Fund)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent Agent, and the Document Custodian) of a request for release of documents and receipt in the form annexed hereto as Exhibit H, to release to the Services Provider within five Business Days of receipt of such request, the relevant Related Contracts set forth in such request. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall return to the Document Custodian the Related Contracts when the Services Provider’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent Agent, and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.

Appears in 3 contracts

Samples: Credit Agreement (Owl Rock Capital Corp), Credit Agreement (Owl Rock Capital Corp), Credit Agreement (Owl Rock Capital Corp)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsTransferred Loans, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative the Servicer on behalf of the Services Provider (as listed on Exhibit KBorrower, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) of a written request for release of documents and receipt in the form annexed hereto as Exhibit HL and upon receipt from the Deal Agent of its written consent to such request and receipt, to release to the Services Provider within five Business Days of receipt of such request, Servicer the relevant Related Contracts related Loan File or the documents set forth in such requestrequest and receipt to the Servicer; provided, however, that, notwithstanding the foregoing or any other provision of this Agreement, upon its receipt of written instructions from the Deal Agent, the Collateral Custodian shall cease releasing documents to the Servicer. All documents so released to the Services Provider Servicer on behalf of the Borrower shall be held by the Services Provider Servicer in trust for the benefit of the Collateral AgentBorrower, on behalf of the Deal Agent and the other Secured Parties Parties, with respect to their respective interests, in accordance with the terms of this Agreement. The Services Provider Servicer, on behalf of the Borrower, shall return to the Document Collateral Custodian the Related Contracts Loan File or other such documents when the Services ProviderServicer’s need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Loan shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.L, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 7.10(c) shall be released by the Collateral Custodian to the Servicer. Notwithstanding anything in this Section 7.10(c) to the contrary, in no event shall the Collateral Custodian release any Loan File or part thereof to the Servicer for any reason without the Deal Agent’s prior written consent.

Appears in 3 contracts

Samples: Loan Funding and Servicing Agreement (American Capital, LTD), Funding and Servicing Agreement (American Capital Strategies LTD), Loan Funding and Servicing Agreement (American Capital Strategies LTD)

Release for Servicing. (a) From time to time and as appropriate for the enforcement servicing or servicing foreclosure of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written directed after receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Servicer of a written request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to the Services Provider within five Business Days of receipt of such request, Servicer the relevant Related Contracts related Custodial File or the documents set forth in such requestrequest and receipt to the Servicer. The Custodian shall deliver such requested documents to the Servicer within two (2) Business Days after its receipt of a written or electronic request for release of documents and receipt in the form annexed hereto as Exhibit 3. All documents so released to the Services Provider Servicer shall be held by the Services Provider Servicer in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Owner in accordance with the terms of this Servicing Agreement. The Services Provider Servicer shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Provider’s Servicer's need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer's request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer.

Appears in 2 contracts

Samples: Custodial Agreement (Structured Asset Securities Corp), Custodial Agreement (Structured Asset Securities Corp)

Release for Servicing. (a) From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from receipt, or in an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice electronic format acceptable to the Administrative AgentCustodian, the Collateral Agent and the Document Custodian) from a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt to such Servicer. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Such Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicers to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within three (3) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4), Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Manager within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, Administrative Agent on behalf of the Secured Parties Parties, in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Collateral Custodian the Related Contracts Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Manager to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Custodian to the Collateral Manager.

Appears in 2 contracts

Samples: And Collateral Management Agreement (Investcorp Credit Management BDC, Inc.), Assignment and Assumption Agreement (AGTB Private BDC)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsLoan Assets, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative the Manager on behalf of the Services Provider (as listed on Exhibit KBorrower, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) of a written request for release of documents and receipt Loan Asset Files substantially in the form annexed hereto as Exhibit HJ, to release to the Services Provider within five Business Days of receipt of such request, Manager the relevant Related Contracts related Loan Asset File set forth in such requestrequest and receipt to the Manager; provided, that notwithstanding the foregoing or any other provision of this Agreement, at any time following the occurrence of an Event of Default and upon its receipt of written instructions from the Administrative Agent, the Custodian shall cease releasing Loan Asset Files to the Manager without the prior written consent of the Administrative Agent. All documents Loan Asset Files so released to the Services Provider Manager on behalf of the Borrower shall be held by the Services Provider Manager in trust for the benefit of the Collateral Borrower, the Administrative Agent, on behalf of the Custodian and the other Secured Parties Parties, with respect to their respective interests, in accordance with the terms of this Agreement. The Services Provider Manager, on behalf of the Borrower, shall return to the Document Custodian the Related Contracts Loan Asset File when the Services ProviderManager’s need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Loan Asset shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents Loan Asset Files and certification as to the Document Custodian and receipt certifying such liquidation from the Services Provider Manager to the Collateral Agent and the Document Custodian, all Custodian substantially in the form annexed hereto as Exhibit H.J, such Loan Asset File shall be released by the Custodian to the Manager.

Appears in 2 contracts

Samples: Credit, Security and Management Agreement (Saratoga Investment Corp.), Credit, Security and Management Agreement (GSC Investment Corp.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider Collateral Manager (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider Collateral Manager with notice to the Administrative Agent, the Collateral Agent and the Document Collateral Custodian) of a request for release of documents and receipt in the form annexed hereto as Exhibit H, to release to the Services Provider Collateral Manager within five Business Days of receipt of such request, the relevant Related Contracts set forth in such request. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Collateral Custodian the Related Contracts when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized representative of the Services Provider Collateral Manager (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider Collateral Manager with notice to the Administrative Agent, the Collateral Agent and the Document Collateral Custodian) shall deliver an additional request for release of documents to the Document Collateral Custodian and receipt certifying such liquidation from the Services Provider Collateral Manager to the Collateral Agent and the Document Collateral Custodian, all in the form annexed hereto as Exhibit H.

Appears in 2 contracts

Samples: Credit Agreement (Golub Capital Private Credit Fund), Credit Agreement (Golub Capital Private Credit Fund)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Borrower within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents or the documents set forth in such requestrequest and receipt to the Borrower. All documents so released to the Services Provider Borrower shall be held by the Services Provider Borrower in trust for the benefit of the Collateral Agent, Administrative Agent on behalf of the Secured Parties Parties, in accordance with the terms of this Agreement. The Services Provider Borrower shall return to the Document Collateral Custodian the Related Contracts Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderBorrower’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Borrower to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Custodian to the Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (FS KKR Capital Corp), Loan and Security Agreement (KKR FS Income Trust)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsTransferred Notes Receivable, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative the Servicer on behalf of the Services Provider (as listed on Exhibit KBuyer, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) of a written request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider within five Business Days of receipt of such request, Servicer the relevant Related Contracts related Note Receivable Documents or the documents set forth in such requestrequest and receipt to the Servicer. All documents so released to the Services Provider Servicer on behalf of the Buyer shall be held by the Services Provider Servicer in trust for the benefit of the Collateral AgentBuyer, on behalf of the Secured Parties Agent and the Lender Group, with respect to their respective interests, in accordance with the terms of this Agreement. The Services Provider Servicer, on behalf of the Buyer, shall return to the Document Collateral Custodian the Related Contracts Note Receivable Documents or other such documents when the Services ProviderServicer’s need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Transferred Note Receivable shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 4.09(c) shall be released by the Collateral Custodian to the Servicer. Notwithstanding anything in this Section 4.09(c) to the contrary, in no event shall the Collateral Custodian release any Note Receivable Documents or part thereof to the Servicer for any reason if the Collateral Custodian has received written notice from the Agent that an Event of Default has occurred and is continuing and that the Agent is instructing the Collateral Custodian to cease releasing documents to the Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Horizon Technology Finance Corp), Sale and Servicing Agreement (Horizon Technology Finance Corp)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related CollateralMortgage Loans, but so long as no a Servicer Event of Default then existsshall not have occurred, the Document Custodian Collateral Agent is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Servicer of a request Request for release of documents and receipt Release in the form annexed hereto as Exhibit HD, in duplicate, to release to the Services Provider within five Business Days of receipt of such request, Servicer the relevant Related Contracts set forth in such requestrelated Custodial Loan File to the Servicer. All documents Custodial Loan Files so released to the Services Provider Servicer shall be held by the Services Provider Servicer in trust for the benefit of the Collateral AgentNote Purchaser and the Indenture Trustee, as collateral agent and secured party on behalf and for the benefit of the Secured Parties Note Purchaser, in accordance with the terms of this Agreement. The Services Provider Servicer shall return to the Document Custodian Collateral Agent the Related Contracts Custodial Loan File upon the earliest of (x) when the Services Provider’s Servicer's need therefor in connection with such enforcement foreclosure or servicing no longer exists, (y) the occurrence of a Servicer Event of Default, together with endorsements in blank duly executed by the Trust, and (z) within ten (10) days following the date of release, unless the relevant Collateral Mortgage Loan shall be liquidatedhave been liquidated or released to an attorney in connection with a foreclosure proceeding, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request Request for release of documents to the Document Custodian and receipt Release, in duplicate, certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.D, and the Collateral Agent shall countersign and release one copy to the Servicer as acknowledgment.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/), Sale and Servicing Agreement (American Business Financial Services Inc /De/)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)shall, upon written receipt of two copies (or electronic receipt) from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Servicer of a request for release of documents Custodial File and receipt in the form similar to the form annexed hereto as Exhibit H3, or such other form in electronic format acceptable to the Custodian, within five (5) Business Days release to the Services Provider within five Business Days of receipt of such requestServicer, the relevant Related Contracts set forth in such requestrelated Custodial File. All documents Custodial Files so released to the Services Provider Servicer shall be held in trust by the Services Provider in trust Servicer for the sole benefit of the Collateral Agent, on behalf of the Secured Parties Indenture Trustee in accordance with the terms of this Agreement. The Services Provider Servicer shall return to the Document Custodian the Related Contracts Custodial File when the Services Provider’s Servicer's need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian Custodial File and receipt certifying such liquidation in the form similar to the form annexed hereto as Exhibit 3, or such other form in electronic format acceptable to the Custodian, the request and receipt submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer. In connection with the Servicer's processing of a payoff request for a Mortgage Loan, if required by the Servicer in order to calculate the prepayment penalties, if any, to be charged in connection with such payoff, the Servicer may submit a request for release of Custodial File and receipt in the form similar to the form annexed hereto as Exhibit 3, with item (5) checked (or some other form in electronic format acceptable to the Custodian, indicating the same information) and stating that the Servicer requests a copy of the note rider or other document in the Custodial File describing the prepayment penalty. The Custodian will provide to the Servicer a facsimile (or other electronic copy) of the document so requested within 48 hours following the receipt of such request, however the Custodian will use reasonable efforts to provide such requested documents as soon as possible following receipt of such requests; provided that, if the Custodian receives more than fifty (50) such payoff requests on any single Business Day, the Custodian will use reasonable efforts to provide such requested documents as soon as practicable following receipt of such requests. In addition, from time to time and as requested by the Indenture Trustee, the Custodian is hereby authorized, upon written receipt of two copies (or electronic receipt) from the Services Provider Indenture Trustee, of a request for release of Custodial File in substantially the form annexed hereto as Exhibit 3, or such other form in electronic format acceptable to the Collateral Agent and the Document Custodian, to release to the Indenture Trustee or its designee the related Custodial File. In order to facilitate the administration of certain customary servicing functions with respect to any Mortgage Loans for which the related Mortgage has been assigned to the Indenture Trustee as provided herein, the Indenture Trustee shall simultaneously with the execution and delivery of this Agreement, and thereafter from time to time upon request of the Servicer, execute and deliver a reasonable number of originals of a limited power of attorney, appointing as attorney-in-fact either the Servicer or, at the Servicer's discretion, an agent of the Servicer, substantially in the form attached hereto as Exhibit 9. The Servicer shall indemnify the Trust fund, the Indenture Trustee and its officers, directors and agents for any and all liabilities, obligations, losses, compensatory damages, payments, costs or expenses of any kind whatsoever, including reasonable attorney's fees, that may be imposed on, incurred by or asserted against the Trust fund or the Indenture Trustee as a result of the Servicer's misuse of such power of attorney and/or the release of any Mortgage Loans or Custodial Files to the Servicer or the retention of the Mortgage Loans and Custodial Files by the Servicer or any of its Affiliates; provided, however, the Servicer shall not be liable to any of the foregoing Persons for any amount and any portion of any such amount resulting from the willful misfeasance, bad faith or negligence of such Person. The provisions of this Section 7 shall survive the termination of this Agreement and/or the termination or resignation of the Servicer. In addition to the foregoing releases, the Custodian shall, upon receipt of two copies (or electronic receipt) from a Seller of a request for release in the form annexed hereto as Exhibit H.3, or such other form in electronic format acceptable to the Custodian, within five (5) Business Days release to such Seller the Custodial File for each Mortgage Loan for purposes of submitting such assignment for recordation.

Appears in 1 contract

Samples: Custodial Agreement (PHH Mortgage Trust, Series 2008-Cim2)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is and the Collateral Administrator are hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Manager within five two Business Days of receipt of such request, the relevant applicable Related Contracts Documents delivered to it or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Custodian or the Collateral Administrator, as applicable, the Related Contracts Documents held by such party or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall 132 be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents and receipt certifying such liquidation or sale from the Collateral Manager to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document CustodianAdministrator, all as applicable, in the form annexed hereto as Exhibit H.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 Administrator, as applicable, to the Collateral Manager.

Appears in 1 contract

Samples: Credit and Security Agreement (Main Street Capital CORP)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt. All documents so released to the Services Provider Such Servicer shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall promptly return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, such Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within five (5) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the related Servicer and the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Custodial Agreement (Sequoia Residential Funding Inc)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) of a request for release of documents and receipt in the form annexed hereto as Exhibit H, to release to the Services Provider within five Business Days of receipt of such request, the relevant Related Contracts set forth in such request. All documents so released to the 161 Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall return to the Document Custodian the Related Contracts when the Services Provider’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral shall be liquidated, in which case, an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.

Appears in 1 contract

Samples: Credit Agreement (Owl Rock Technology Finance Corp.)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) related Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such request. All documents so released request and receipt to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreementsuch Servicer. The Services Provider related Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider related Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the related Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released and the Custodian shall have no further obligations in connection therewith. In the event that the Custodian fails to produce a Mortgage Note, Assignment of Mortgage or any other document related to a Mortgage Loan that the Custodian was required to review, and was in its possession for purposes of review pursuant to this Custodial Agreement, within five (5) Business Days after requested by a Servicer (a “Custodial Delivery Failure”), and provided, that (i) the Custodian previously delivered a Trust Receipt and Initial Certification with respect to such Mortgage Loan which did not list such document as an exception; and (ii) such document is not outstanding pursuant to a request for release of documents and receipt in the form annexed hereto as Exhibit 3 or delivered pursuant to written directions of the Trustee under Section 4(c), then the Custodian shall (x) with respect to any missing Mortgage Note, promptly deliver to the Trustee, upon request, a Lost Note Affidavit in the form annexed hereto as Exhibit 6 and indemnify the Trust, its successors and assigns as set forth therein, and (y) with respect to any Assignment of Mortgage or other missing document related to a Mortgage Loan required to be reviewed but not identified as an exception or released or delivered as described in clause (ii) above, indemnify and hold harmless, from the Custodian’s own funds, the Trust and the applicable Servicer for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever, including, without limitation, reasonable attorney’s fees, that may be imposed on, incurred by, or asserted against them in any way relating to or arising out of such Custodial Delivery Failure, in each case subject to the first paragraph of Section 26.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)shall, upon written receipt in writing or facsimile form from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3 or by Electronic Transmission (each, to a "Request for Release"), release to the Services Provider within five Business Days of receipt of such request, Servicer the relevant Related Contracts related Custodial File or the documents set forth in such requestRequest for Release. All documents so The Servicer shall forward a copy of any such Request for Release to the Trustee. Any document released to the Services Provider Servicer pursuant to a Request for Release shall be returned to the Custodian no later than five (5) Business Days from the date on such Request for Release, and the Custodian shall notify the Trustee of any failure by the Servicer to so return any such document. All Mortgage Files or documents from Mortgage Files released by the Custodian to the Servicer pursuant to this Section 7 shall be held by the Services Provider Servicer in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this AgreementTrust. The Services Provider Servicer shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Provider’s Servicer's need therefor in connection with such enforcement foreclosure or servicing no longer existsexists (but in any event no later than five (5) Business Days from the date on such Request for Release), unless the relevant Collateral Mortgage Loan shall be liquidated, in which . In such a case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request Request for release of documents to the Document Custodian and receipt Release certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3 or by Electronic Transmission, the Servicer's Request for Release submitted pursuant to the first sentence of this Section 7 shall be released by the Custodian to the Servicer, with a copy to the Trustee.

Appears in 1 contract

Samples: Custodial Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)

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Release for Servicing. (a) From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from receipt, or in an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice electronic format acceptable to the Administrative AgentCustodian, the Collateral Agent and the Document Custodian) from a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt to such Servicer. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Such Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer existsexist, unless the relevant Collateral related Mortgage Loan shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, such Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within three (3) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Manager within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Underlying Instruments or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Collateral Custodian the Related Contracts Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Manager to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Custodian to the Collateral Manager. 109

Appears in 1 contract

Samples: Loan and Security Agreement (New Mountain Guardian III BDC, L.L.C.)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from receipt, or in an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice electronic format acceptable to the Administrative AgentCustodian, the Collateral Agent and the Document Custodian) from a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt to such Servicer. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Such Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicers to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within three (3) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsCollateral Portfolio, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider Borrower (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, or the Collateral Agent and the Document CustodianManager on its behalf) of a request for release of documents and receipt in the form annexed hereto as Exhibit HL, to release to the Services Provider Borrower (or the Collateral Manager on its behalf) within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Required Loan Documents or the documents set forth in such requestrequest and receipt to such Person. All documents so released to the Services Provider shall be held by the Services Provider Borrower (or the Collateral Manager on its behalf) in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Borrower (or the Collateral Manager on its behalf) shall return to the Document Collateral Custodian the Related Contracts Required Loan Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderBorrower’s need therefor in connection with such enforcement foreclosure or servicing no longer exists, unless the relevant Collateral Loan shall be liquidated, in which case, an authorized representative of the Services Provider Borrower (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, or the Collateral Agent and the Document CustodianManager on its behalf) shall deliver an additional request for release of documents to the Document Collateral Custodian and receipt certifying such liquidation from the Services Provider Borrower (or the Collateral Manager on its behalf) to the Collateral Agent and the Document Custodian, all in the form annexed hereto as Exhibit H.L.

Appears in 1 contract

Samples: Loan and Security Agreement (FS Investment Corp III)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt. All documents so released to the Services Provider Such Servicer shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider shall promptly return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, such Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within five (5) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Servicer and the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Custodial Agreement (Sequoia Residential Funding Inc)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any Loan Asset (including for the purposes of correcting non-compliance of any Loan Asset with the Related Contracts or the related Collateral, so long as no Event of Default then existsReview Criteria), the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative AgentAgent (acting at the direction of the Majority Lenders)), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Portfolio Asset Servicer of a request for release of documents and receipt in the form annexed hereto as of Exhibit HF (which, in the case of correcting non-compliance of any Loan Asset with the Review Criteria or if necessary in connection with a repayment of the applicable Loan Asset, shall be delivered at the instruction of the Borrower), to release to the Services Provider Portfolio Asset Servicer, the Borrower or a Subsidiary Guarantor, as applicable, within five two Business Days of receipt of such request, the relevant Related Contracts related Loan Asset File or the documents set forth in such request. All documents so released to the Services Provider Portfolio Asset Servicer, the Borrower or such Subsidiary Guarantor, as applicable, shall be held by the Services Provider it in trust for the benefit of the Collateral Administrative Agent, on behalf of the Secured Parties Parties, in accordance with the terms of this Agreement. The Services Provider Portfolio Asset Servicer (or the Borrower or such Subsidiary Guarantor, as applicable) shall return to the Document Collateral Custodian such Loan Asset File or other such documents (i) promptly upon the Related Contracts request of the Administrative Agent (acting at the direction of the Initial Lender) or (ii) when the Services ProviderPortfolio Asset Servicer’s (or the Borrower’s or such Subsidiary Guarantor’s) need therefor in connection with such enforcement or servicing no longer existsexists (but in no event longer than 20 calendar days) following receipt thereof or, if such day is not a Business Day, on the immediately preceding Business Day, or such additional period of time as the Administrative Agent (at the direction of the Initial Lender) agrees in its sole discretion, unless the relevant Collateral shall be related Loan Asset is liquidated, in which case, an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Portfolio Asset Servicer shall deliver an additional request for release of documents to the Document Collateral Custodian and receipt certifying such liquidation from the Services Provider Portfolio Asset Servicer to the Collateral Agent and the Document CustodianAdministrative Agent, all in the form annexed hereto as of Exhibit H.F. All Electronic Loan Asset Files in the Collateral Custodian’s possession that are requested for release pursuant to this section for a permanent reason will be removed and deleted from the Collateral Custodian’s electronic storage facilities in accordance with the Collateral Custodian’s customary retention and purging policies and procedures of electronic files and data.

Appears in 1 contract

Samples: Loan and Servicing Agreement (PIMCO Capital Solutions BDC Corp.)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) applicable Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H4, to release to the Services Provider within five Business Days of receipt of such request, related Servicer the relevant Related Contracts related Mortgage File or the documents set forth in such request. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreementrequest and receipt. The Services Provider applicable Servicer shall promptly return to the Document Custodian the Related Contracts Mortgage File or other such documents when the Services Providerrelated Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider applicable Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.4, the applicable Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to the applicable Servicer. If the Custodian fails to release the Mortgage File within five (5) business days of receipt of the request for release of documents, the Custodian, upon the written request of the applicable Servicer, will provide the Applicable Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Mortgage File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the interim certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Servicer and the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (NYMT Securities CORP)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)) to, and shall, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HG, to release to the Services Provider Collateral Manager within five two (2) Business Days of receipt of such request, the relevant related Related Contracts Documents or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Custodian the Related Contracts Documents or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Manager to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.G, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Custodian to the Collateral Manager.

Appears in 1 contract

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

Release for Servicing. (c) From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) a Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such requestrequest and receipt to such Servicer. All documents so released to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreement. The Services Provider Such Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Provider’s such Servicer's need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider such Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer's request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to such Servicer. If the Custodian fails to release the Custodial File within five (5) business days of receipt of the request for release of documents, the Custodian, upon the written request of such Servicer, will provide such Servicer with a lost note affidavit and indemnity; provided, however, that in the event such Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Custodial Agreement (CSFB Mortgage Pass Through Certificates Series 2001-S23)

Release for Servicing. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) related Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such request. All documents so released request and receipt to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreementsuch Servicer. The Services Provider related Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services Providersuch Servicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider related Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the related Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released and the Custodian shall have no further obligations in connection therewith. In the event that the Custodian fails to produce a Mortgage Note, Assignment of Mortgage or any other document related to a Mortgage Loan that the Custodian was required to review, and was in its possession for purposes of review pursuant to this Custodial Agreement, within five (5) Business Days after requested by a Servicer (a “Custodial Delivery Failure”), and provided, that (i) the Custodian previously delivered a Trust Receipt and Initial Certification with respect to such Mortgage Loan which did not list such document as an exception; and (ii) such document is not outstanding pursuant to a request for release of documents and receipt in the form annexed hereto as Exhibit 3 or delivered pursuant to written directions of the Trustee under Section 4(b), then the Custodian shall (x) with respect to any missing Mortgage Note, promptly deliver to the Trustee, upon request, a Lost Note Affidavit in the form annexed hereto as Exhibit 6 and indemnify the Trust, its successors and assigns as set forth therein, and (y) with respect to any Assignment of Mortgage or other missing document related to a Mortgage Loan required to be reviewed but not identified as an exception or released or delivered as described in clause (ii) above, indemnify and hold harmless, from the Custodian’s own funds, the Trust for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever, including, without limitation, reasonable attorney’s fees, that may be imposed on, incurred by, or asserted against it or them in any way relating to or arising out of such Custodial Delivery Failure, in each case subject to the first paragraph of Section 25.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Manager of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Manager within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Underlying Instruments or the documents set forth in such requestrequest and receipt to the Collateral Manager. All documents so released to the Services Provider Collateral Manager shall be held by the Services Provider Collateral Manager in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Manager shall return to the Document Collateral Custodian the Related Contracts Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Manager’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Manager to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Manager’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Custodian to the Collateral Manager. 111

Appears in 1 contract

Samples: Loan and Security Agreement (New Mountain Guardian III BDC, L.L.C.)

Release for Servicing. H. From time to time and as appropriate for the enforcement foreclosure or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then existsMortgage Loans, the Document Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent)authorized, upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Servicer of a request for release of documents and receipt in the form annexed hereto as Exhibit H3, to release to such Servicer the Services Provider within five Business Days of receipt of such request, related Custodial File or the relevant Related Contracts documents set forth in such request. All documents so released request and receipt to the Services Provider shall be held by the Services Provider in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties in accordance with the terms of this Agreementsuch Servicer. The Services Provider Servicer promptly shall return to the Document Custodian the Related Contracts Custodial File or other such documents when the Services ProviderServicer’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral related Mortgage Loan shall be liquidated, liquidated in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation from the Services Provider Servicer to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.3, the Servicer’s request and receipt submitted pursuant to the first sentence of this Section 8 shall be released by the Custodian to the Servicer. If the Custodian fails to release the Custodial File within three (3) business days of receipt of the request for release of documents, the Custodian, upon the written request of the Servicer, will provide the Servicer with a lost note affidavit and indemnity; provided, however, that in the event the Custodial File did not contain an original Mortgage Note and such exception was duly reported on the document exception report attached to the Trust Receipt and Initial Certification, the Custodian will not be required to provide a lost note affidavit and indemnity. The Custodian agrees to indemnify the Trustee for the reasonable replacement cost of the file, as well as any actual penalties or charges resulting from the failure of the Custodian to return the Mortgage Files within the time frame described above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2006-6)

Release for Servicing. From time to time and as appropriate for the enforcement or servicing of any of the Related Contracts or the related Collateral, so long as no Event of Default then exists, the Document Collateral Custodian is hereby authorized (unless and until such authorization is revoked by the Administrative Agent), upon written receipt from an authorized representative of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) Administrator of a request for release of documents and receipt in the form annexed hereto as Exhibit HE, to release to the Services Provider Collateral Administrator within five two (2) Business Days of receipt of such request, the relevant Related Contracts related Underlying Instruments or the documents set forth in such requestrequest and receipt to the Collateral Administrator. All documents so released to the Services Provider Collateral Administrator shall be held by the Services Provider Collateral Administrator in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties Administrative Agent in accordance with the terms of this Agreement. The Services Provider Collateral Administrator shall return to the Document Collateral Custodian the Related Contracts Underlying Instruments or other such documents (i) promptly upon the request of the Administrative Agent, or (ii) when the Services ProviderCollateral Administrator’s need therefor in connection with such enforcement or servicing no longer exists, unless the relevant Collateral Loan shall be liquidatedliquidated or sold, in which case, an authorized representative upon receipt of the Services Provider (as listed on Exhibit K, as such exhibit may be amended from time to time by the Services Provider with notice to the Administrative Agent, the Collateral Agent and the Document Custodian) shall deliver an additional request for release of documents to the Document Custodian and receipt certifying such liquidation or sale from the Services Provider Collateral Administrator to the Collateral Agent and the Document Custodian, all Custodian in the form annexed hereto as Exhibit H.E, the Collateral Administrator’s request and receipt submitted pursuant to the first sentence of this subsection shall be released by the Collateral Custodian to the Collateral Administrator.

Appears in 1 contract

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

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