Release Prices. The Borrower will have the right to sell any of the Sales Projects, until the first lapse of a deadline set in any of the First Performance Condition, the Second Performance Condition or the Third Performance Condition, as is applicable to such Project, without satisfaction of such Performance Condition as to such Sales Project. In connection with such sales, the Release Price shall be equal to all sales proceeds (with a deduction from the gross purchase price of only reasonable closing costs approved by the Lenders), and the minimum release price (after making such deduction) shall be not less than: Fresno Project $ 10,000,000 Monroe Project $ 2,500,000 Lebanon Project $ 1,800,000 (b)
Release Prices. The release prices referred to in Section 1(c) of the Existing SOI in respect of the Canyons Project are as set forth in the Amended LSA. Release prices in respect of the Steamboat Project are as set forth in the Amended LSA.
Release Prices. The release price in Section 1.6(c) is hereby amended to be the Designated Value for the Interval in question. Lender agrees that provided no Event of Default then exists, in lieu of a cash payment of the Designated Value, Borrower may, until March 31, 2004, substitute a new Interval having the same or greater Designated Value subject to the requirements for Eligible Unsold Timeshare Intervals.
Release Prices. To reflect the agreement of the parties to modify release prices for certain Release Parcels, Section 6(d) of the Third Amendment is amended modified to (i) reduce the release price for the Honolua Store (TMK (2) 4-2-4-54) to $1,857,000.00 and (ii) provide that the release price for TMK Lot 3-A-2, (2) 4-2-1-46, commonly referred to as the “Plantation Course Maintenance Facility,” shall be zero.
Release Prices. Partial releases will be executed by the Lender without the requirement for payment of a “Release Price” so long as: (a) there is no uncured Default; (b) the Lot, development parcel, or other Property to be released is not needed in the Borrowing Base to support outstanding borrowings, any Letters of Credit issued, or any other exposure; and (c) the partial release does not negatively impact in any way the value or use of the remaining collateral. Without limiting the foregoing, Lender acknowledges that Borrower may request, from time to time, releases for parks, roads, and other non-developable portions of the Property including, but not limited to, conveyances to property owners associations, CDDs and Governmental Authorities without payment of a Release Price so long as the requirements for nonpayment of a Release Price contained in this provision are satisfied. If release of a Lot or development parcel would result in the amounts outstanding under the Loans being in excess of the Margined Value, the partial release may be denied or (i) a reduction of principal outstanding to the Margined Value or (ii) an increase in the Collateral to the Margined Value may be required by the Lender as a condition to the partial release. Partial Releases will reduce availability in the Borrowing Base by the Margined Value of the property released. The Borrower shall be required to provide Lender with Partial and Final Lien Waivers (as applicable) from any party filing a Notice to Owner on any Land encumbered by Lender.
Release Prices. The initial Release Price for the Thomxx Xxxxxx Xxx will be Nine Million Four Hundred Eight Thousand and 00/100 Dollars ($9,408,000), the initial Release Price for the St. Clair Inn will be Four Million Thirty-Two Thousand and 00/100 Dollars ($4,032,000) and the initial Release Price for the Grand Haven Holiday Inn will be Three Million Three Hundred Sixty Thousand and 00/100 ($3,360,000). The Lender shall have the right to adjust the Release Prices between the Hotel Properties on an annual basis so long as the aggregate Release Prices do not exceed One Hundred Twenty Percent (120%) of the unpaid principal balance of Loan I, and in the Lender's sole and reasonable discretion, the Release Price for each Hotel Property is based upon the estimated fair market value of each property compared to the total estimated fair market value of all of the Hotel Properties.
Release Prices. Senior Lender shall use commercially reasonable efforts to give notice to each Junior Lender of any request that Senior Lender receives from Borrower to reduce any Minimum Sales Price, Minimum Release Price or Required Release Price for any Unit or to otherwise amend or modify the definition of Bona Fide Sales Contract or any provision with respect to sales or releases of Units contained in the Senior Loan Agreement, but Senior Lender shall not incur any liability to any Junior Lender by reason of its failure to provide any .such notice
Release Prices. Lender agrees to release the Lots from the lien and operation of the Mortgage and other Loan Documents provided the Loan is free of any Event of Default, or circumstance or event which upon the lapse of time, the giving of notice, or both, could become an Event of Default, has occurred as of the date of the Advance; and upon the payment to Lender of a cash release price for each individual Lot or Model as set forth on EXHIBIT "Q".
Release Prices. Release prices for the various pieces of equipment shall be determined by calculating a percentage , the numerator of which is the advance for that particular piece of equipment, and the denominator of which is the overall cumulative advances made under the Note, and then multiplying the percentage by the outstanding balance of the Note at the time of the payment of the release price for the release of that particular piece of equipment.
Release Prices. Provided that all of the conditions described in Section 12.1 above have been satisfied in form and substance acceptable to Lender and no Event of Default or Unmatured Default then exists, Lender will issue a partial release of the lien of its Loan Documents covering any Unit upon the payment to Lender of an amount equal to the amount of the Loan previously disbursed by Lender with respect to such Unit.
