Released Amounts Clause Samples
Released Amounts. The Agent hereby agrees that it shall release to the Borrower from the Collateral, and the Borrower hereby agrees to release to the Originator, an amount equal to the Released Amounts promptly upon receipt of an Officer’s Certificate of the initial Servicer (or the Originator if the initial Servicer is no longer the Servicer) setting forth the calculation thereof, which release shall be automatic and shall require no further act by the Agent; provided, that, the Agent and the Borrower, as applicable, shall execute and deliver such instruments of release and assignment, or otherwise confirm the foregoing release, as may reasonably be requested by the Servicer on behalf of the Borrower or the Originator, as applicable, in writing. Upon such release, such Released Amounts shall not constitute and shall not be included in the Collateral. Immediately upon the release to the Borrower by the Agent of the Released Amounts, the Borrower hereby irrevocably agrees to release to the Originator such Released Amounts, which release shall be automatic and shall require no further act by the Borrower; provided, that the Borrower shall execute and deliver such instruments of release and assignment, or otherwise confirming the foregoing release of any Released Amounts, as may be reasonably requested by the Originator.
Released Amounts. The Agent and the other Secured Parties hereby agree to release to the Borrower from the Collateral, and the Borrower hereby agrees to release to the Originator, an amount equal to the Released Amounts immediately upon identification thereof and upon receipt of an Officer’s Certificate of the Servicer, which release shall be automatic and shall require no further act by the Trustee on behalf of the Secured Parties, or the other Secured Parties; provided, that, the Trustee on behalf of the Secured Parties and the other Secured Parties shall execute and deliver such instruments of release and assignment, or otherwise confirm the foregoing release, as may reasonably be requested by the Originator in writing. Upon such release, such Released Amounts shall not constitute and shall not be included in the Collateral.
Released Amounts. 8.1 Where, in respect of a Released Amount: Back to Contents
8.1.1 Available Tax Reliefs certified by the Borrower as being available pursuant to paragraph 7.1.1 prove not to be so available to reduce or extinguish the relevant Disposal CGT Liability; or
8.1.2 a payment to the relevant Tax Authority of a Discharged Amount has not been made or has only partly been made; or
8.1.3 a Borrower (and/or the MAB Group Company, in the case of a claim referred to in paragraph 7.1.5(c)) fails to make a rollover relief claim or holdover relief claim (as the case may be) pursuant to its obligations under paragraphs 7.1.3, 7.1.4, 7.1.5 or 7.1.6; or
Released Amounts. If at any time any amount is required to be ---------------- released to the ▇▇▇▇▇▇▇▇ Payee pursuant to Section 2.2.3(b) of the Master Agreement ("Released Amount"), and the Released Amount exceeds (the amount of such excess being hereinafter referred to as the "Shortfall Amount") the then current funded balance of the Acquisition Escrow (the "Escrow Balance"), the principal of this Note in an amount equal to the Shortfall Amount, plus accrued interest thereon, if any, shall be due and payable directly to the ▇▇▇▇▇▇▇▇ Payee on the date the Released Amount is to be released pursuant to such Section 2.2.3(b) and the Escrow Balance shall be released to the ▇▇▇▇▇▇▇▇ Payee; provided, however, on September 15, 1997 the principal of this Note in an amount equal to the lesser of (i) the aggregate amounts released from the escrow ("Aggregate Amount") or (ii) the difference between $2.9 million and the Aggregate Amount shall be due and payable directly to the Acquisition Escrow to the extent, if any, that such amount has not otherwise been funded by Maker.