Release of Properties. On one or more occasions, the Borrowers may obtain the release (each, a "RELEASE") of one or more Properties from the Lien of the applicable Mortgage(s) in connection with a partial or total defeasance of the Loan subject to the conditions of the Note and subject to the satisfaction of the following conditions:
Appears in 8 contracts
Samples: Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc)
Release of Properties. On one or more occasions, the Borrowers may obtain the release (each, a "RELEASE") of one or more Properties from the Lien of the applicable Mortgage(s) in connection with a partial or total defeasance prepayment of a portion of the Loan subject to the conditions of the Note and subject to the satisfaction of the following conditions:
Appears in 2 contracts
Samples: Loan and Security Agreement (Lodgian Inc), Loan and Security Agreement (Lodgian Inc)
Release of Properties. On one or more occasions, the Borrowers may obtain the release (each, a "RELEASE") of one (1) or more of the Properties from the Lien of the applicable Mortgage(s) in connection with a partial or total defeasance of the Loan in accordance with the terms and subject to the conditions of the Note and subject to the satisfaction of the following conditions:
Appears in 1 contract
Samples: Loan and Security Agreement (HRPT Properties Trust)
