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:
Appears in 3 contracts
Samples: Mezzanine Loan and Security Agreement (CNL Hotels & Resorts, Inc.), Mezzanine Loan and Security Agreement (CNL Hotels & Resorts, Inc.), Mezzanine Loan and Security Agreement (CNL Hotels & Resorts, Inc.)
Release of Individual Properties. On one or more occasions, subject to satisfaction of each of the conditions set forth in paragraphs (a) through (fe) 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:
Appears in 1 contract
Samples: Mezzanine Loan and Security Agreement (CNL Hotels & Resorts, Inc.)
