Common use of RELEASE OF THE SECURITY Clause in Contracts

RELEASE OF THE SECURITY. After the end of the Security Period, the Buyer and the Agent shall, at the request and cost of the Originator, execute all such documents and do all such other things as may be required to release the Security, in each case without recourse to or any representation or warranty by or from the Buyer and the Agent; provided that at any time following enforcement of the Security pursuant to this Clause 13, the Buyer and the Agent shall release monies, other than Collections, constituting the Deposit if and to the extent the Originator provides satisfactory evidence to the Buyer and the Agent that such monies are (a) not Collections and (b) in an amount equal to sums due and payable, and which have been collected by the Originator, for the benefit of any Unilever group company pursuant to the terms of the MSA Agreement. For the avoidance of doubt, the parties acknowledge and agree that the presentation of a report (the “Unilever Report”) prepared by the Originator in the form agreed and initialled by the parties for the purposes of identification on or about the date of this Deed shall be satisfactory evidence for a release of funds under this Clause 13.