Release Request Clause Samples
A Release Request clause defines the process by which one party formally asks to be released from certain obligations or liabilities under an agreement. Typically, this clause outlines the required steps for submitting a release request, such as providing written notice and specifying the obligations or claims to be released. It may also set conditions that must be met before the release is granted, such as the completion of certain tasks or the payment of outstanding amounts. The core function of this clause is to provide a clear and structured mechanism for parties to seek and obtain releases, thereby reducing uncertainty and potential disputes over ongoing responsibilities.
Release Request. Borrower hereby requests that the Release Property described in this Request be released from the Collateral Pool in accordance with the terms of the Master Agreement. Following is the information required by the Master Agreement with respect to this Request:
Release Request. Beneficiary may submit a request to Escrow Associates to release the Deposit Material covered under this Agreement, which in the case of a release pursuant to Section 1(a) of this Exhibit C, may include a partial release of the Deposit Materials consisting of the entire contents of one or more Deposit Accounts hereto (i.e., individual Deposit Accounts FA, PA and/or RA, but not individual notebooks). Escrow Associates will send a written notice of this Beneficiary request within [**] business days to the Depositor’s Authorized Person(s).
Release Request. Lender shall have received a written request from Borrower for the release of the entire Debt Service Reserve Fund no less than fifteen (15) days prior to the date of the requested release and in no event shall a request for the release of the Debt Service Reserve Fund be made later than thirty (30) days prior to the Outside Closing Date.
Release Request. Each of Ginkgo and Amyris, as Beneficiary, agrees that a Release Request shall be made solely in accordance with the Release Conditions. Any Release Request shall be submitted by such Beneficiary to the Escrow Agent in writing, shall cite the triggering Release Condition, and shall specify the Escrowed Materials to be released. Promptly upon receipt of the Release Request, Escrow Agent shall send a copy thereof to the applicable Depositor.
Release Request. If Beneficiary believes in good faith that a Release Condition has occurred, Beneficiary may provide to ▇▇▇▇▇▇ Bureau’s written notice of the occurrence and its request for the release of the Deposit Materials by registered mail, return receipt requested. Upon receipt, ▇▇▇▇▇▇ Bureau shall forward a copy of the Release Request to the Depositor by registered mail, return receipt requested. Release Request must include Beneficiary’s specific delivery instructions and non- refundable payment of $200 Canadian Dollars, the Deposit Release Fee.
Release Request. If Transcend believes, in good faith, that a Release Event has occurred, Transcend may provide Escrow Agent with written notice of the occurrence of the Release Event and request for release of the relevant Deposit Materials. Such notice shall be written on Transcend company letterhead and signed by the Transcend Designated Contact, and shall contain the following: (a) a detailed description of the particular M*Modal Software (and identification of corresponding M*Modal Software Components, specifying the portions thereof, where applicable), and (b) an undertaking from Transcend that the particular M*Modal Software Components requested by Transcend shall be used only in accordance with the terms and conditions of the license set forth in Article III, below. Unless Escrow Agent either acknowledges or discovers independently, or through M*Modal or Transcend, its need for additional documentation or information in order to comply with this section 2.2, Escrow Agent shall promptly provide a copy of the notice to M*Modal by overnight delivery via Federal Express. Such need for additional documentation or information may extend the time period for Escrow Agent’s performance under this section 2.2.
Release Request. The Administrative Agent shall have received a duly executed and completed Release Request in accordance with Section 2.01(d).
Release Request. The Borrower and each Restricted Subsidiary hereby requests pursuant to Section 13.2 of the Credit Agreement that the Administrative Agent and Collateral Agent approve the sale of the Collateral set forth in Exhibit A (the “Released Collateral”). The Borrower and the Restricted Subsidiaries hereby represent to the Administrative Agent and Collateral Agent that the Released Collateral being sold, contributed, assigned, transferred or otherwise conveyed pursuant to the [______] Agreement is being sold, contributed, assigned, transferred or otherwise conveyed in compliance with the Credit Agreement and the Security Agreements and that such sale, contribution, assignment, transfer or other conveyance is a Permitted Transfer, and that the [______] Agreement constitutes a Permitted Facility. Relying on such representation, each of the Administrative Agent and Collateral Agent, as of the Release Effective Date (as defined below), hereby (a) agrees that such sale, contribution, assignment, transfer or other conveyance is a Permitted Transfer, (b) agrees that, as of the date hereof, the [______] Agreement constitutes a Permitted Facility, and (c) releases all of its rights, title, interest in, and Liens under the Credit Agreement, the Security Agreements, and the other Loan Documents against the Released Collateral without the necessity of any further action and notwithstanding the existence of any “stamp”, “legend” or similar language of the Collateral Agent contained in or on any of the Released Collateral. The Administrative Agent and Collateral Agent authorize the Borrower and the Restricted Subsidiaries or their agents or assigns to cancel, supersede or otherwise modify any such legend, stamp or similar language on or after the Release Effective Date. This Release Request shall not apply to the release of any other Collateral other than the Released Collateral. This Release Request is not and shall not be construed as an approval or endorsement of the [______] Agreement or the transaction contemplated thereby.