Release of Charged-Off Leases and Leased Vehicles on Sale. The Collateral Agent will be deemed to have released, and does release, any Liens and its other rights, title and interests in, to and under a Lease and Leased Vehicle (but not the proceeds of the sale or disposition of the Lease and Leased Vehicle) sold by the related Borrower according to Section 3.3(g) of the Servicing Agreement, effective immediately before the sale of the Lease and Leased Vehicle and without further action of the parties.
Appears in 6 contracts
Samples: Credit and Security Agreement (CAB East LLC), Credit and Security Agreement (CAB East LLC), Credit and Security Agreement (CAB East LLC)
