Common use of Release of Receivable Files Clause in Contracts

Release of Receivable Files. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed as Exhibit B, to release to the Servicer the Receivable File related to any Receivable or the specific documents identified in such request by the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee. Servicer shall return the Receivable File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed as Exhibit B, the related Receivable File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation of the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivable File released to it within five Business Days of such release and (ii) if such Receivable File has not been returned to the Custodian within such five Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivable File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivable File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivable File, the number of Receivables having released Receivable Files in connection with modifications and extensions exceeds four (4).

Release of Receivable Files. From time to time and as provided appropriate for the repossession of or foreclosure on the collateral securing any of the Receivables, pay off, full prepayment and repurchase, or in the Sale and Servicing Agreementevent that the Receivable has been rejected, is a Liquidated Receivable or is a Defaulted Receivable, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) applicable Borrower in the form annexed hereto as Exhibit B, to release to such Borrower or such Borrower's designee the Servicer the related Receivable File related to any Receivable Files or the specific documents identified set forth in such request by the Servicerrequest. All documents so released to the Servicer such Borrower or such Borrower's designee shall be held by it in trust for the benefit of the Indenture TrusteeLender. Servicer Such Borrower shall return or cause to be returned to the Custodian the Receivable FileFiles, or such other documents which have been released to Servicersuch Borrower or such Borrower's designee, to Custodian when Servicersuch Borrower's need therefor in connection with a foreclosure, modification, termination such foreclosure or repossession no longer existsexits, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such this effect from Servicer such Borrower to Custodian in the form annexed hereto as Exhibit B, the related Receivable File Files shall be released by Custodian to Servicer, such Borrower and the Custodian shall thereupon reflect any such liquidation on the Receivable Information List. The foregoing provision respecting release of the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer Receivable Files by Custodian upon request by a Borrower shall return a Receivable File released to it within five Business Days of such release and (ii) if such Receivable File has not been returned be operative only to the Custodian within such five Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in extent that at any other Basic Document to the contrary, (i) the Servicer shall return any Receivable File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the time Custodian shall not release a have released Receivable File Files or any part thereof or documents (including those requested) pertaining to no more than 100 of the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivable File, the total number of Receivables having released being maintained by Custodian hereunder at the time of such request. Any additional Receivable Files in connection with modifications and extensions exceeds four (4)or documents requested to be released by a Borrower may be released only upon written authorization of the Lender. The limitation of this paragraph shall not apply to release of the Receivable Files to a Borrower under Section 3.6 or Section 3.10 below.

Release of Receivable Files. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed as Exhibit B, to release to the Servicer the Receivable File related to any Receivable or the specific documents identified in such request by to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee. Servicer shall return the Receivable File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed as Exhibit B, the related Receivable File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation of on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivable File released to it within five Business Days of such release and (ii) if such Receivable File has not been returned to the Custodian within such five Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivable File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivable File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivable File, the number aggregate Principal Balance of all Receivables having released Receivable Files in connection with modifications and extensions exceeds four (4)$[_________].

Release of Receivable Files. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed hereto as Exhibit B, to release to the Servicer the Receivable File related to any Receivable or the specific documents identified in such request by to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee. Servicer shall return the Receivable File, or such other documents which have been released to Servicer, to Custodian when Servicer's need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed hereto as Exhibit B, the related Receivable File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation of on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivable File released to it within five (5) Business Days of such release and (ii) if such Receivable File has not been returned to the Custodian within such five (5) Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivable File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivable File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivable File, the number aggregate Principal Balance of all Receivables having released Receivable Files in connection with modifications and extensions exceeds four (4)$500,000.

Release of Receivable Files. From time to time and as provided in the Sale and Servicing Agreement, Custodian is hereby authorized, upon written request of Servicer (with the approval of the Indenture Trustee, which approval shall not be unreasonably withheld) in the form annexed as Exhibit B, to release to the Servicer the Receivable File related to any Receivable or the specific documents identified in such request by to the Servicer. All documents so released to the Servicer shall be held by it in trust for the benefit of the Indenture Trustee. Servicer shall return the Receivable File, or such other documents which have been released to Servicer, to Custodian when Servicer's ’s need therefor in connection with a foreclosure, modification, termination or repossession no longer exists, unless the Receivable shall be satisfied in full or liquidated, in which case, upon receipt of a certification to such effect from Servicer to Custodian in the form annexed as Exhibit B, the related Receivable File shall be released by Custodian to Servicer, and Custodian shall thereupon reflect any such liquidation of on the related Receivable. Pursuant to Section 4.07 of the Sale and Servicing Agreement, (i) the Servicer shall return a Receivable File released to it within five Business Days of such release and (ii) if such Receivable File has not been returned to the Custodian within such five Business Day period, the Servicer shall repurchase the related Receivable. Notwithstanding anything herein or in any other Basic Document to the contrary, (i) the Servicer shall return any Receivable File released to it in connection with a modification or extension of a Receivable to the Custodian on the same day such file is released and (ii) the Custodian shall not release a Receivable File to the Servicer in connection with a modification or extension of a Receivable if, after giving effect to the release of such Receivable File, the number aggregate Principal Balance of all Receivables having released Receivable Files in connection with modifications and extensions exceeds four (4)$500,000.