Release of Collateral Documents Clause Samples
The 'Release of Collateral Documents' clause defines the process and conditions under which documents securing a loan or obligation—such as mortgages, pledges, or security agreements—are returned or released to the borrower or another party. Typically, this clause specifies that once the underlying debt is fully repaid or the secured obligations are otherwise satisfied, the lender must promptly release any collateral documents and take necessary steps to remove liens or encumbrances. Its core practical function is to ensure that borrowers regain clear title to their assets and are no longer subject to security interests once their obligations are fulfilled, thereby providing certainty and closure to the secured transaction.
Release of Collateral Documents. The Collateral Agent shall not release any Pledged Items except as provided herein or in connection with the enforcement of any remedies hereunder.
Release of Collateral Documents. From time to time and as appropriate for the purposes contemplated by Section 9-312(g) of the UCC with respect to any of the Collateral Debt Securities or the Contributed Capital Assets, the Custodian is hereby authorized (unless and until such authorization is revoked in writing by the Pledgee at a time when a Remedy Event has occurred and is continuing), upon receipt from the Collateral Manager of a written request for release of Collateral Documents in the form of Exhibit B hereto (with a copy of such request of release to the Pledgee), to release to the Collateral Manager or its designee the related Collateral Documents set forth in such request and receipt to the Collateral Manager. All Collateral Documents so released to the Collateral Manager shall be held by the Collateral Manager in trust for the benefit of the Pledgee in accordance with the terms of this Pledge Agreement. The Collateral Manager shall return to the Custodian the Collateral Documents (i) promptly upon the request of the Pledgee, or (ii) except as the Pledgee shall otherwise agree in writing, when the Collateral Manager’s need therefor in connection with such purpose no longer exists (and in any event no later than 20 days after such release to the Collateral Manager).
Release of Collateral Documents. The Custodian is hereby authorized (unless and until such authorization is revoked in writing by ▇▇▇▇▇▇▇ ▇▇▇▇▇ at a time when a Remedy Event has occurred and is continuing), upon receipt from the Collateral Manager of a written request for release of Collateral Documents in the form of Exhibit B hereto (with a copy of such request of release to ▇▇▇▇▇▇▇ ▇▇▇▇▇), to release to the Collateral Manager or its designee the related Collateral Documents set forth in such request and receipt to the Collateral Manager. The Collateral Manager shall not deliver a request for the release of Collateral Documents unless such release would not impair the first priority perfected security interest of the Custodian. All Collateral Documents released to the Collateral Manager pursuant to this ▇▇▇▇▇▇▇▇▇ ▇▇ (▇▇▇▇▇ than in connection with the sale or other disposition of a Loan pursuant to and in accordance with the terms of the Credit Agreement after such sale or other disposition is effected) shall be held by the Collateral Manager in trust for the benefit of ▇▇▇▇▇▇▇ ▇▇▇▇▇ in accordance with the terms of this Agreement. The Collateral Manager shall return to the Custodian the Collateral Documents (i) promptly upon the request of ▇▇▇▇▇▇▇ ▇▇▇▇▇, or (ii) except as ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall otherwise agree in writing, if the retention by the Collateral Manager of such Collateral Documents would not impair the first priority perfected security interest of the Custodian in the Collateral when the Collateral Manager’s need therefor in connection with such purpose no longer exists.
Release of Collateral Documents. The Custodian is hereby authorized, upon receipt from the Collateral Manager of a written request for release of Collateral Documents in the form of Exhibit O hereto (with a copy of such request of release to the Issuer and the Trustee), to release to the Collateral Manager or its designee the related Collateral Documents set forth in such request and receipt to the Collateral Manager. The Collateral Manager shall not deliver a request for the release of Collateral Documents unless such release would not impair the first priority perfected security interest of the Custodian. All Collateral Documents released to the Collateral Manager pursuant to this Section 3.03(a)(iv) (other than in connection with the sale or other disposition of such Collateral pursuant to and in accordance with the terms of this Indenture after such sale or other disposition is effected) shall be held by the Collateral Manager in trust for the benefit of the Secured Parties in accordance with the terms of this Indenture. The Collateral Manager shall return to the Custodian the Collateral Documents when the Collateral Manager’s need therefor in connection with such purpose no longer exists.