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[Andres95]

Código:

DECLARE @RESULTADO AS INT
DECLARE @DOCUMENT AS VARCHAR(64)
DECLARE @N AS INT

SET @N = 0
SET @DOCUMENT = 'H/OLA /MUN/DO'

WHILE PATINDEX('%/%',@DOCUMENT)>0
BEGIN
    SET @RESULTADO = PATINDEX('%/%',@DOCUMENT) + @N
    SELECT @N = @RESULTADO  
    PRINT @RESULTADO

	SELECT ISNULL(LEFT(@DOCUMENT,PATINDEX('%/%',@DOCUMENT)-1),'')
    
    SELECT @DOCUMENT = RIGHT(@DOCUMENT,LEN(@DOCUMENT)-PATINDEX('%/%',@DOCUMENT))
END

SELECT ISNULL(@DOCUMENT,'')

Saludos!