Common use of Release of Excluded Amounts Clause in Contracts

Release of Excluded Amounts. The parties acknowledge and agree that the Buyer has no interest in the Excluded Amounts. Promptly upon the receipt by or release to the Buyer of any Excluded Amounts, the Buyer hereby irrevocably agrees to deliver and release to the Seller such Excluded Amounts, which release shall be automatic and shall require no further act by the Seller; provided that the Buyer shall take such action reasonably requested by the Seller that may be necessary or appropriate to effectuate the foregoing and shall execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release of such Excluded Amounts, as may be reasonably requested by the Seller in writing.

Release of Excluded Amounts. The parties acknowledge and agree that each of the Depositor and the Buyer has no interest in the Excluded Amounts. Promptly upon the receipt by or release to the Buyer Depositor or the Buyer, as applicable, of any Excluded Amounts, each of the Depositor and the Buyer hereby irrevocably agrees to deliver and release to (or as directed by) the Seller such Excluded Amounts, which release shall be automatic and shall require no further act by the SellerDepositor or the Buyer, as applicable; provided that each of the Depositor and the Buyer shall take such action reasonably requested by the Seller respectively agrees that may be necessary or appropriate to effectuate the foregoing and shall it will execute and deliver such instruments of release and assignment or other documents, or otherwise confirm the foregoing release of such Excluded Amounts, as may be reasonably requested by the Seller in writing.