Common use of RELEASE ON PAYMENT OR DISCHARGE Clause in Contracts

RELEASE ON PAYMENT OR DISCHARGE. Upon proof being given to the satisfaction of the Note Trustee as to the irrevocable and unconditional payment or discharge of the Series 2005-A Secured Obligations, the Note Trustee will, at the request and cost of the Issuer, release, discharge or reassign the Series 2005-A Secured Property to the Issuer or any other person entitled thereto of whom the Note Trustee has notice.

RELEASE ON PAYMENT OR DISCHARGE. Upon proof being given to the satisfaction of the Note Trustee as to the irrevocable and unconditional payment or discharge of the Series 2005-A B Secured Obligations, the Note Trustee will, at the request and cost of the Issuer, release, discharge or reassign the Series 2005-A B Secured Property to the Issuer or any other person entitled thereto of whom the Note Trustee has notice.