Satisfaction and Defeasance of Existing Loans Sample Clauses

Satisfaction and Defeasance of Existing Loans. Notwithstanding anything to the contrary contained in Sections 4(b), 4(c), or any other provision of the Agreement, Purchaser and Seller acknowledge and agree that Purchaser shall have the right (but not the obligation), subject to the Norfolk Existing Lender’s consent and the Parkwood Point Existing Lender’s consent, respectively, and at Purchaser’s expense, to satisfy or defease (rather than assume) the Norfolk Existing Loan and/or the Parkwood Point Existing Loan at Closing.
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Related to Satisfaction and Defeasance of Existing Loans

  • Satisfaction Discharge and Defeasance SECTION 401.

  • Conditions to Defeasance or Covenant Defeasance The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be:

  • Option to Effect Legal Defeasance or Covenant Defeasance The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8.

  • DEFEASANCE AND COVENANT DEFEASANCE SECTION 1301.

  • Company’s Option to Effect Defeasance or Covenant Defeasance The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

  • Conditions to Legal Defeasance or Covenant Defeasance The following shall be the conditions to the application of either Section 8.02(b) or 8.02(c) hereof to the outstanding Notes:

  • Issuer’s Option to Effect Defeasance or Covenant Defeasance The Issuer may, at its option and at any time prior to the Stated Maturity of the Notes, by a resolution of its Board of Directors, elect to have either Section 8.02 or Section 8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article Eight.

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