Return of Loan Documents Clause Samples
The 'Return of Loan Documents' clause requires the borrower or relevant party to return all original loan documents to the lender or specified party upon the termination, repayment, or satisfaction of the loan agreement. In practice, this means that once the loan has been fully repaid or the agreement otherwise ends, any promissory notes, security agreements, or other official loan paperwork must be physically or electronically returned to the lender. This clause ensures that all parties have clear evidence that the loan obligations have been fulfilled and helps prevent future disputes or misuse of the documents.
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Return of Loan Documents. Upon payment in full of all amounts owed by the applicable Obligor with respect to a Term Loan, NewCo shall promptly return to each Borrower any original Loan Document relating to such Term Loan then in NewCo’s possession (including but not limited to any original promissory note evidencing such Borrower’s Term Loan (marked paid in full)).
Return of Loan Documents. The Borrower may require that the Collateral Custodian return each Required Loan Document (as applicable), respectively (a) delivered to the Collateral Custodian in error, (b) as to which the lien on the Related Property has been so released pursuant to Section 6.3, (c) that has been the subject of a Discretionary Sale or Substitution pursuant to Section 2.14 and Section 2.15 or (e) that is required to be redelivered to the Borrower in connection with the termination of this Agreement, in each case by submitting to the Collateral Custodian and the Administrative Agent a written Request of Release of Loan Documents (signed by both the Borrower and the Administrative Agent) specifying the Collateral to be so returned and reciting that the conditions to such release have been met (and specifying the Section or Sections of this Agreement being relied upon for such release). The Collateral Custodian shall within two (2) Business Days of its receipt of each such Request of Release of Loan Documents executed by the Borrower and the Administrative Agent return the Loan Documents so requested to the Borrower; provided, however, that if the Borrower and the Administrative Agent deliver any such Request of Release of Loan Documents with respect to Loan Documents for more than twenty-five (25) Loans, then the two (2) Business Day period shall be a time period that is mutually acceptable to the Borrower, the Administrative Agent and the Collateral Custodian (which acceptance may be conclusively confirmed by e-mail).
Return of Loan Documents. The Borrower may, with the prior written consent of the Collateral Agent (such consent not to be unreasonably withheld), require that the Document Custodian return each Required Loan Document (as applicable), respectively (a) delivered to the Document Custodian in error, (b) as to which the lien on the related property has been so released, (c) that has been the subject of a discretionary sale or Substitution permitted hereunder or (e) that is required to be redelivered to the Borrower in connection with the termination of this Agreement, in each case by submitting to the Document Custodian and the Collateral Agent a written request in the form of Exhibit L-2 hereto (signed by both the Borrower and the Collateral Agent) specifying the Collateral to be so returned and reciting that the conditions to such release have been met (and specifying the Section or Sections of this Agreement being relied upon for such release). The Document Custodian shall upon its receipt of each such request for return executed by the Borrower and the Collateral Agent promptly, but in any event within two Business Days, return the Loan Documents so requested to the Borrower.