Release Rights Clause Samples
Release Rights. At any time that the operating pressure at a Delivery Point is not in compliance with the required operating pressure or is in excess of the MAOP for any reason, including Force Majeure, Producer shall be entitled to an immediate temporary release from dedication and may immediately dispose of and/or deliver to any third Person any of Producer’s Gas available for delivery at such Delivery Point. In the event the operating pressure is not in compliance with the required pressure for a cumulative thirty (30) Days in any ninety (90) Day period for reasons other than Force Majeure, then upon Producer’s written notice to Processor, Processor shall have fifteen (15) Days from receipt of such notice to propose a feasible plan that shall, at Processor’s sole cost and expense, resolve the pressure issue within sixty (60) Days after proposing such plan (the “Resolution Period”) so that the pressure shall be maintained in compliance with the required pressure (including when all available Gas is delivered to the Delivery Point(s), i.e., including all of Producer’s Gas that may have been temporarily released). If (a) Processor fails to propose a resolution within the stated fifteen (15) Days, (b) the issue is not resolved after completion of Processor’s resolution, or (c) Processor does not complete its proposed resolution within the Resolution Period for any reason (but if Processor’s completion is delayed or prevented by reason of Force Majeure, the Resolution Period shall be extended by an additional 120 Days), then Producer may elect, by giving written notice to Processor, to either (i) a permanent release from dedication as to any affected Delivery Point(s) and the portion(s) of the Dedicated Area associated with such Delivery Point(s) (and such released portion(s) may be stated in terms of ▇▇▇▇▇ and/or acreage) or (ii) until the pressure issue has been resolved, a [***] percent ([***]%) reduction in the then-existing applicable Fees for a volume of Gas equal to Producer’s good-faith estimate of the volumes that would have been delivered to the affected Delivery Points under this Agreement; provided, however, Producer shall not be entitled to the remedies set forth in either subsection (i) or subsection (ii) to the extent that (x) any Receipt Point(s) upstream of the Delivery Point are in compliance with the Required Pressure (as defined in the Gas Gathering Agreement) for such Receipt Point(s) or (y) Producer’s good-faith estimate of volumes exceeds the last 2-Y...
Release Rights. Grantor shall be entitled to the release of Mortgaged Property from the Lien of this Deed of Trust on the following terms and conditions:
Release Rights. Licensee shall only release or distribute the Final Work through only the following platform: YouTube, SoundCloud, Audiomack, Tik-Tok (video), Facebook, Instagram with the right to monetize.
Release Rights. (a) During the Term of the Loan, if Borrower proposes to sell a parcel (the “Release Parcel”) which is part of the Property to a bona fide third party purchaser, or if the Event of Default has occurred with respect to any Property, and Borrower proposes to repay the amount of the Loan necessary to affect the release of such property in order to cure the Event of Default (a “Release to Cure”) then as limited below, Borrower will be permitted to obtain a release (a “Release”) of the Release Parcel subject to the following conditions and limitations for each Release:
(i) the Release is solely for the purpose of a transfer of the Release Parcel to an unaffiliated bona fide purchaser or in connection with a Release to Cure;
(ii) not less than thirty (30) days prior to the date of the Release, Borrower delivers to Lender (A) a notice (which notice may be subsequently revoked) setting forth (1) the anticipated date of the Release (provided the date of the actual Release may be revised to coincide with the sale of the Property), (2) the name of the proposed transferee (if known at such time); and (3) any other information reasonably necessary for Lender to analyze the terms of the Release, and (B) a non-refundable fee of $25,000 for each Release;
(iii) there is no Event of Default under the Loan Documents on either the notice date or the date of the Release other than one which will be cured or eliminated by a Release to Cure;
(iv) Borrower pays all of Lender’s reasonable third party fees and expenses relating to the Release, including title costs and outside counsel fees, if applicable;
(v) Borrower delivers to Lender copies of the executed documents evidencing the transfer of the Release Parcel as provided in subsection (i) above (which may be through the closing escrow);
(vi) the aggregate loan to value ratio for the remaining Property (excluding the Release Parcel) as determined by Lender in its reasonable discretion (provided, if Borrower, in good faith, disputes Lender’s determination, Borrower and Lender shall agree to abide by the value determined by a third party appraiser appointed by Lender and paid for by Borrower) shall not exceed the lesser of (A) seventy percent (70%), or (B) the aggregate loan to value ratio of the Property, including the Release Parcel, immediately prior to the Release; provided however, Borrower may, in its sole discretion, prepay a portion of the Principal as part of the Release in order to satisfy the foregoing loan to value re...
Release Rights. (a) As of the date hereof, the real property described on Exhibit E attached hereto is encumbered by this Mortgage in part (the unencumbered portion not being owned by Borrower as of the date hereof). Acquiring the applicable portion of the Land not currently encumbered by this Mortgage will require Borrower, subsequent to the date hereof, to acquire certain real property and convey other real property encumbered by this Mortgage to ▇.▇. ▇▇▇▇▇▇, and the creation of the Development Parcel (as hereinafter defined) as a separate real estate tax parcel may need to be accomplished by Borrower (x) executing and recording a plat, and/or entering into lot line adjustment and/or conveying the Development Parcel to an affiliate of Key Principal which will simultaneously reconvey it back to Borrower, and (y) complying with other requirements imposed under the Delaware County, Ohio subdivision procedures and regulations (all of the foregoing activities, inclusive of the land swap with ▇.▇. Penney, being hereinafter collectively defined as the “Development Parcel Creation Activities”). That portion of the Development Parcel Creation Activities consisting of the land swap with ▇.▇. ▇▇▇▇▇▇ and any other adjustment of the boundary line of the Land existing as of the date hereof shall be subject to (i) no Event of Default having occurred under the Loan Documents, (ii) Borrower’s execution of an amendment to this Mortgage and the other Loan Documents such that, as of the date of such amendment, the real property described on Exhibit E attached hereto is encumbered by this Mortgage and (iii) Borrower’s delivery to Lender of an endorsement to Lender’s title insurance policy satisfactory to Lender that (a) extends the effective date of the policy to the effective date of the amendment and (b) confirms no change in the priority of the lien of this Mortgage or in the amount of coverage, or subjects the policy to any exceptions not permitted by this Mortgage or otherwise approved by Lender. Provided TIAA Authorization ID # AAA-7346; TIAA Inv. ID # 000553801 Polaris Fashion Place Mortgage 15239260v.7 the foregoing conditions are satisfied, contemporaneously with the execution and delivery of such amendment by Borrower to Lender, Lender shall execute and deliver to Borrower a release from this Mortgage of the applicable portions of the Land (consisting of approximately .3 acres) which are the subject of the land swap with ▇.▇. Penney and the lot line adjustments. If Lender rejects ...
Release Rights. Upon the release of the Escrow Materials in accordance with Section 12.2, and subject to the terms and conditions of this Agreement, Purchaser shall be granted a non- exclusive, non-transferable (except pursuant to a permitted assignment of this Agreement in compliance with Section 14.12), worldwide, royalty-bearing license for no more than eighteen (18) months, unless at the end of that 18-month period the conditions having caused the original release from escrow have persisted, to support, reproduce (in the case of software), offer, sell, import, and manufacture the Products either on its own or through contractors on its behalf. The royalty payable to Mellanox for Products obtained by Purchaser through use of the Escrow Materials shall be equal to 40% for HCA Card Products and 50% for Silicon Products of the price paid by Purchaser for Products at the time of the Trigger Event. If at any time Mellanox can demonstrate that the conditions leading to the release from escrow are no longer in existence and Mellanox has the ability (directly or through a third party reasonably acceptable to Purchaser) to perform its obligations under the Agreement, then the release rights shall expire, Purchaser shall return the Escrow Materials into escrow, and Mellanox shall resume its supply and support obligations pursuant to the terms and conditions of this Agreement.
Release Rights