Common use of Right to Release Any Portion of the Property Clause in Contracts

Right to Release Any Portion of the Property. Mortgagee may release any portion of the Property, for such consideration as Mortgagee may require (or as may be required pursuant to the Loan Agreement) without, as to the remainder of the Property, in any way impairing or affecting the Lien or priority of this Security Instrument, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder shall have been reduced by the actual monetary consideration, if any, received by Mortgagee for such release, and may accept by assignment, pledge or otherwise any other property in place thereof as Mortgagee may require without being accountable for so doing to any other lienholder. This Security Instrument shall continue as a Lien and security interest in the remaining portion of the Property.

Appears in 2 contracts

Samples: Lightstone Value Plus Real Estate Investment Trust, Inc., Lightstone Value Plus Real Estate Investment Trust, Inc.

AutoNDA by SimpleDocs

Right to Release Any Portion of the Property. Mortgagee may release any portion of the Property, Property for such consideration as Mortgagee may require (or as may be required pursuant to the Loan Agreement) without, as to the remainder of the Property, in any way impairing or affecting the Lien or priority of this Security InstrumentMortgage, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder Debt shall have been reduced by the actual monetary consideration, if any, received by Mortgagee for such release, and Mortgagee may accept by assignment, pledge or otherwise any other property in place thereof as Mortgagee may require without being accountable for so doing to any other lienholder. This Security Instrument Mortgage shall continue as a Lien and security interest in the remaining portion of the Property.

Appears in 2 contracts

Samples: WWP Office (New York REIT, Inc.), Mortgage (Bluerock Residential Growth REIT, Inc.)

Right to Release Any Portion of the Property. Mortgagee may release any portion of the Property, Property for such consideration as Mortgagee may require (or as may be required pursuant to the Loan Agreement) without, as to the remainder of the Property, in any way impairing or affecting the Lien or priority of this Security InstrumentMortgage, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder Obligations shall have been reduced by the actual monetary consideration, if any, received by Mortgagee for such release, and Mortgagee may accept by assignment, pledge or otherwise any other property in place thereof as Mortgagee may require without being accountable for so doing to any other lienholder. This Security Instrument Mortgage shall continue as a Lien and security interest in the remaining portion of the Property.

Appears in 1 contract

Samples: Security Agreement (Morgans Hotel Group Co.)

AutoNDA by SimpleDocs

Right to Release Any Portion of the Property. Mortgagee may release any portion of the Property, Property for such consideration as Mortgagee may reasonably require (or as may be required pursuant to the Loan Agreement) without, as to the remainder of the Property, in any way impairing or affecting the Lien or priority of this Security InstrumentMortgage, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder Indebtedness shall have been reduced by the actual monetary consideration, if any, received by Mortgagee for such release, and Mortgagee may accept by assignment, pledge or otherwise any other property in place thereof as Mortgagee may require without being accountable for so doing to any other lienholder. This Security Instrument Mortgage shall continue as a Lien and security interest in the remaining portion of the Property.

Appears in 1 contract

Samples: Security Agreement (Hospitality Investors Trust, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.