Common use of Releases of Underlying Collateral Clause in Contracts

Releases of Underlying Collateral. Manager is authorized to cause the release or assignment of any Lien granted to or held by the Company on any Underlying Collateral upon payment of any Loan in full and satisfaction in full of all of the secured obligations with respect to a Loan, upon receipt of a discounted payoff as payment in full of a Loan, or upon a sale of the Loan to any Person, in each case as and to the extent permitted hereunder and under the Reimbursement, Security and Guaranty Agreement

Releases of Underlying Collateral. Manager is authorized to cause the release or assignment of any Lien granted to or held by the Company on any Underlying Collateral upon payment of any Mortgage Loan in full and satisfaction in full of all of the secured obligations with respect to a Mortgage Loan, upon receipt of a discounted payoff as payment in full of a Mortgage Loan, or upon a sale of the Mortgage Loan to any Person, in each case as and to the extent permitted hereunder and under the Reimbursement, Reimbursement and Security and Guaranty Agreement