RELEASE PROVISION. That Beneficiary may at any time, without notice, release any of the property described herein, grant extensions or deferments of time of payment of the indebtedness secured hereby, or any part thereof, grant subordinations of lien(s) or release from liability any parties who are or may become liable for the payment of said indebtedness, without affecting the priority of this lien or the personal liability of the Grantor or any other party liable or who may become liable for the indebtedness secured by this instrument. If all or any part of the property hereinabove described becomes vested in any party other than Grantor, Beneficiary may, without notice to Grantor, deal with such successor in interest with reference to this instrument and the debt(s) and obligation(s) hereby secured in the same manner as with the Grantor, without in any way releasing, vitiating or discharging the Grantor's liability hereunder or for the debt(s) and obligation(s) hereby secured and extension(s) of time for payment or other loan treatment(s) described herein given or permitted by Beneficiary shall not operate to release, vitiate, or discharge the liability of the Grantor herein, either in whole or in part.
RELEASE PROVISION. As a material part of the consideration for the Administrative Agent and the Lenders to enter into this Amendment, the Borrower and each other Loan Party signing this Amendment (collectively, “Releasor”) agree as follows (the “Release Provision”):
RELEASE PROVISION. So long (i) as there is no event which is, or with notice or lapse of time or both would be, an Event of Default and (ii) there has been no material adverse change to remaining collateral securing this Agreement, as determined by the Bank, upon written request from the Borrower stating that the Borrower will be using the affected parcels for water recharge or water banking operations, the Bank shall (at the Borrower’s expense) release the following real estate parcels from the Bank’s collateral securing this Agreement to the extent affected by such usage: 000-000-00, 000-000-00, 000-000-00, 000-000-00 and/or 000-000-00. 6. LOAN ADMINISTRATION AND FEES 6.1
RELEASE PROVISION. Upon payment by any Borrower to FINOVA of all amounts due and owing to FINOVA by such Borrower, as allocated to such Borrower in the final Loan Documents (including, without limitation, any applicable Prepayment Premium as required by this Paragraph 4 of this Section 3.1), such Borrower shall be entitled to a release of such Borrower's Facility and of all other Collateral which has been encumbered by such Borrower from the lien of FINOVA's security interest in such assets; provided, however, that the foregoing shall be subject to the provisions set forth in Section 13.1 of this Agreement requiring the simultaneous prepayment in full of any outstanding Intra-Borrower Loan in conjunction with the prepayment of its allocated Loan amount hereunder by the applicable Over-Budget Borrower that incurred such Intra-Borrower Loan.
RELEASE PROVISION. Upon termination of this Agreement by Buyer or Seller, Xxxxx shall execute and deliver to Seller a release of this Agreement. Said release shall be in a recordable format.
RELEASE PROVISION. Upon termination of this Supplement, Xxxxx shall execute and deliver to Seller a release of this Supplement. Said release shall be in a recordable format.
RELEASE PROVISION. Compromise and Settlement The allowance, classification and treatment of all Allowed Claims and Equity Interests and their respective distributions and treatments under the Plan takes into account and/or conforms to the relative priority and rights of the Claims and Equity Interests in each Class in connection with any contractual, legal and equitable subordination rights relating thereto whether arising under general principles of equitable subordination, section 510(c) of the Bankruptcy Code, or otherwise. As of the Effective Date, any and all such rights described in the preceding sentence will be settled, compromised and released pursuant to the Plan. In addition, the allowance, classification and treatment of Allowed Claims takes into account any Causes of Action, whether under the Bankruptcy Code or otherwise under applicable law, that may exist: (i) between the Debtors, on the one hand, and the Releasing Parties, on the other, and (ii) as between the Releasing Parties (to the extent set forth in the Third Party Release); and, as of the Effective Date, any and all such Causes of Action are settled, compromised and released pursuant hereto. The Confirmation Order shall approve the releases by all Entities of all such contractual, legal and equitable subordination rights or Causes of Action against each such Releasing Party that are satisfied, compromised and settled in this manner. Nothing in this section will compromise or settle in any way whatsoever, any Causes of Action that the Debtors or the Reorganized Debtors may have against the Non-Released Parties. Debtor Release On the Effective Date and effective as of the Effective Date, for the good and valuable consideration provided by each of the Debtor Releasees, including, but not limited to: (i) the discharge of debt and all other good and valuable consideration paid pursuant to the Plan; (ii) the obligations of the Consenting First Lien Lenders, Consenting Second Lien Lenders and Consenting 11% Senior Note Holders to provide the support necessary for Consummation of the Plan; and (iii) the services of the Debtors’ present and former officers and directors in facilitating the expeditious implementation of the Restructuring contemplated by the Plan, each of the Debtors shall provide a full discharge and release to each Releasing Party and each of their respective members, officers, directors, agents, financial advisors, attorneys, employees, partners, Affiliates and representatives (collectively, t...
RELEASE PROVISION. Upon payment by any Borrower to FINOVA of all amounts due and owing to FINOVA by such Borrower, as allocated to such Borrower in the final Loan Documents (including, without limitation, any applicable Prepayment
RELEASE PROVISION. Subsequent to the closing, and provided the Purchaser is not in default under any of the terms of the Note or Mortgage, Purchaser shall be entitled to have portions of the Property released from the lien of said Mortgage upon payment by Purchaser to Seller 125% of the security value of the lands requested to be released. The order of the parcels or phases to be released shall be agreed on between the Seller Purchaser Initial LJS Seller Initial TAL ----- ----- and Purchaser during the Due Diligence period after a development plan has been developed. It is specifically agreed that Seller shall not release any parcel of land which would render a remaining parcel without a means of ingress and egress. During Purchaser's seventy five (75) day Due Diligence period, Seller and Purchaser agree to use their best efforts to reach an agreement defining the security value of the land to be released. Any principal reductions brought about through the lien releases contemplated by this Section 7 shall be applied one-half to the next maturing principal reduction due under the Note and the remaining one-half to the last maturing principal reduction due under the Note.
RELEASE PROVISION. Provided that Borrower is not then in Default hereunder, under the Construction Line, the Mortgage or any other Loan Document, Bank will provide partial releases of Units from the lien of the Mortgage upon the following terms:
