Common use of Partial Discharge Clause in Contracts

Partial Discharge. Upon any prepayment of the Notes in accordance with this Agreement, at the request of the Borrower, the Agent shall remit to the Borrower appropriate documentation evidencing the partial release of Collateral, so long as (w) the requested release would not give rise to a Default, an Early Amortization Event, a Servicer Default or an Event of Default, (x) the requested release would not result in an Asset Base Deficiency, (y) a Default, an Early Amortization Event, a Servicer Default or an Event of Default is not then continuing and (z) the Borrower shall use no adverse selection procedures in selecting the Collateral to be released, and the Agent shall authorize the filing by the Borrower of any financing statements prepared by the Borrower evidencing such partial discharge and release.

Partial Discharge. Upon any prepayment of the Notes in accordance with this Credit Agreement, at the request of the Borrower, the Agent shall remit to the Borrower appropriate documentation evidencing the partial release of Collateral, so long as (w) the requested release would not give rise to a Default, an Early Amortization Event, a Servicer Default or an Event of Default, (x) the requested release would not result in an Asset Base Deficiency, (y) a Default, an Early Amortization Event, a Servicer Default or an Event of Default is not then continuing and (z) the Borrower shall use no adverse selection procedures in selecting the Collateral to be released, and the Agent shall authorize the filing by the Borrower of any financing statements prepared by the Borrower evidencing such partial discharge and release.

Partial Discharge. Upon any prepayment of the Notes in accordance with this Agreement, at the request of the Borrower, the Agent shall remit to the Borrower appropriate documentation evidencing the partial release of Collateral, so long as (w) the requested release would not give rise to a Default, an Early Amortization Event, a Servicer Default or an Event of Default, (x) the requested release would not result in an either a Class A Asset Base Deficiency or a Class B Asset Base Deficiency, (y) a Default, an Early Amortization Event, a Servicer Default or an Event of Default is not then continuing continuing, and (z) the Borrower shall use no adverse selection procedures in selecting the Collateral to be released, and the Agent shall authorize the filing by the Borrower of any financing statements prepared by the Borrower evidencing such partial discharge and release.