Release of Property. (a) If Borrower has elected to defease the Loan and the requirements of Section 2.5 and this Section 2.6 have been satisfied, all of the Property shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note.
Appears in 8 contracts
Samples: Project Loan Agreement (Acadia Realty Trust), Building Loan Agreement (Acadia Realty Trust), Project Loan Agreement (Acadia Realty Trust)
Release of Property. (a) If Borrower has elected to defease the entire Loan and the requirements of Section 2.5 and this Section 2.6 have been satisfied, all of the Property shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note.
Appears in 6 contracts
Samples: Loan Agreement (Cole Credit Property Trust II Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Acadia Realty Trust)
Release of Property. (a) If Borrower has elected to defease the entire Loan and the requirements of Section SECTION 2.5 and this Section SECTION 2.6 have been satisfied, all of the Property shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note.
Appears in 6 contracts
Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)
Release of Property. (a) If Borrower has elected to defease the entire Loan and the requirements of Section 2.5 and this Section 2.6 have been satisfied, all of the Property shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the NoteInstrument.
Appears in 1 contract
