Release of Individual Properties. Subject to satisfaction of each of the conditions set forth below with respect to any Individual Property or Individual Properties (collectively, the “General Release Conditions”), Lender shall (i) release such Individual Property or Individual Properties (a “Release” and each Individual Property subject to a Release, a “Release Property”) from the Lien of the applicable Security Instrument and related Loan Documents (or to the extent so requested by Borrower, assign the Lien of the applicable Security Instrument to a new lender without representation, warranty or recourse) (each release under this Section 2.3.4 or Section 2.3.5, a “Property Release”), (ii) authorize a reduction in the notional amounts of the Interest Rate Protection Agreements in proportion to the reduction of the Principal Amount (which may be pro rata to the notional amounts thereof or otherwise as reasonably determined by Borrower), (iii) instruct the Cash Management Bank to return to Borrower any Excess Account Collateral subject to and in accordance with Section 2.3.7 except to the extent otherwise provided in such Section, (iv) comply with Section 2.3.8 with regard to adjusting the ongoing reserve requirements hereunder, (v) authorize a reduction in the Master Lease Base Rent in an amount, which shall equal the product of (x) the initial Master Lease Base Rent multiplied by (y) a fraction, the numerator of which is the Combined Allocated Loan Amount for the Release Property, and the denominator of which is the original Combined Principal Amount, and (vi) require Borrower to enter into an amendment to the Master Lease with Master Lessee (A) to effect such authorized reduction in the Master Lease Base Rent, (B) to cause such Release Property to be released from the Master Lease, (C) to terminate the Master Lease with respect to such Release Property as of the date that such Release Property is released from the Lien of the applicable Security Instrument and related Loan Documents, (D) to amend the legal description of the “Leased Property” (as defined in the Master Lease) to delete the Release Property, and (E) make such other amendments consistent with the release of the Release Property from the Leased Property.
Release of Individual Properties. Borrower on one or more occasions may obtain (i) the release of an individual Property from the Lien of the Mortgage thereon (and related Loan Documents) and (ii) the release of Borrower's obligations under the Loan Documents with respect to such Property (other than those expressly stated to survive), upon satisfaction of each of the following conditions:
Release of Individual Properties. Subject to satisfaction of each of the conditions set forth below with respect to any Individual Property or Individual Properties (collectively, the “General Release Conditions”), Lender shall release such Individual Property or Individual Properties (each Individual Property subject release hereunder, a “Release Property”) from the Lien of the Mortgage (each release under this Section 2.4, a “Property Release”):
Release of Individual Properties. Borrower on one or more occasions may obtain (i) the individual release of an Individual Property from the Lien of the Mortgage thereon (and related Loan Documents) and (ii) the release of Borrower's obligations under the Loan Documents with respect to that Individual Property (other than those expressly stated to survive), upon satisfaction of each of the following conditions:
Release of Individual Properties. On one or more occasions, subject to satisfaction of each of the conditions set forth in paragraphs (a) through (f) below, Mezzanine Borrower shall be permitted to prepay a portion of the Loan and to cause Mortgage Borrower to defease a portion of the Mortgage Loan and to obtain the release of any Property or Properties from the Lien of the Security Instrument thereon and related Loan Documents (Mortgage) pursuant to and in accordance with Section 2.3.4 of the Loan Agreement (Mortgage), provided:
Release of Individual Properties. On one or more occasions, subject to satisfaction of each of the conditions set forth in paragraphs (a) through (e) below and the terms of Section 2.4.2 hereof, the Borrowers may obtain (i) the release of any Property or Properties from the Lien of the Mortgage thereon and related Loan Documents, (ii) the release of the obligations of the Borrowers under the Loan Documents with respect to such released Property or Properties (other than those expressly stated to survive) and (iii) the remittance to Borrowers of any amounts held in any Reserve Accounts specifically relating to the subject Property or Properties:
Release of Individual Properties. Subject to satisfaction of each of the conditions set forth below with respect to any Individual Property or Properties (collectively, the “General Release Conditions”), Lender shall (i) release such Individual Property or Properties (each a “Release Property”) from the Lien of the Security Instrument and related Loan Documents (or to the extent so requested by Borrower, assign the Lien of the Security Instrument to a new lender without representation, warranty or recourse) (each release under this Section 2.3.4 or Section 2.3.5, a “Property Release”), (ii) authorize a reduction in the notional amount of the Interest Rate Cap Agreement in proportion to the reduction of the Principal Amount, (iii) instruct the Cash Management Bank to return to Borrower any Excess Account Collateral subject to and in accordance with Section 2.3.7 except to the extent otherwise provided in such Section and (iv) comply with Section 2.3.8 with regard to adjusting the ongoing reserve requirements hereunder:
Release of Individual Properties. Subject to satisfaction of each of the conditions set forth below (collectively, the “General Release Conditions”) with respect to any Individual Property or Individual Properties (other than the portion of any Individual Property that that is an Outparcel, the release of which Outparcels is governed by Section 2.3.7 below), Lender shall (i) release such Individual Property or Individual Properties (each a “Release Property”) from the Lien of the Security Instrument and related Loan Documents (or a deed of partial reconveyance, as the case may be) and the release of Borrower’s (and in the case of the Maryland Property, the Maryland Loan Guarantor’s) obligations under the Loan Documents with respect to the Released Property, other than those expressly stated herein or in such other Loan Documents to survive (or to the extent so requested by Borrower, assign the Lien of the Security Instrument to a new lender without representation, warranty or recourse) (each release under this Section 2.3.4 or Section 2.3.6 or in connection with a partial defeasance of the Loan pursuant to Section 2.3.5, a “Property Release”), (ii) instruct the Cash Management Bank to return to Borrower any Excess Account Collateral subject to and in accordance with Section 2.3.8 except to the extent otherwise provided in such Section 2.3.8, (iii) comply with Section 2.3.9 with regard to adjusting the ongoing reserve requirements hereunder and (iv) adjust the Monthly Debt Service Payment Amount in accordance with Section 4(b)(ii) of the Notes:
Release of Individual Properties. Except as set forth in this Section 2.4, no repayment or prepayment of all or any portion of the principal of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of any Lien of any Mortgage on any Individual Property.
Release of Individual Properties. From and after the Lock-Out Date or in connection with any application by Lender of Loss Proceeds to the Loan pursuant to Section 2.7.8 and Section 7.2, Borrowers may obtain (i) the release (in whole but not in part) of an Individual Property from the Lien of the Mortgage thereon and (ii) the release of such Borrower's obligations under the Loan Documents (other than those expressly stated to survive satisfaction of the Indebtedness), upon satisfaction of each of the following conditions:
