Common use of Substitution of Properties Clause in Contracts

Substitution of Properties. Subject to the terms and conditions set forth in this Section, Borrower may obtain a release of the Lien of a Mortgage (and the related Loan Documents) encumbering an Individual Property (a “Substituted Property”) by substituting therefor its interest in one or more properties of like kind and quality acquired by Borrower (individually, a “Substitute Property” and collectively, the “Substitute Properties”), provided that no such substitution may occur after the date that is three (3) months prior to the Maturity Date. In addition, any such substitution shall be subject, in each case, to the satisfaction of the following conditions precedent:

Substitution of Properties. Subject to the terms and conditions set forth in this SectionSection 2.6, on and after the Release Date, a Borrower may obtain a release of the Lien of a Mortgage (and the related Loan Documents) encumbering an Individual Property (a “Substituted Property”) ), by substituting therefor its interest in one or more properties of like kind and quality acquired by Borrower (individually, a “Substitute Property” and collectively, the “Substitute Properties”), provided that no such substitution may occur after the date that is three eight (3) months prior to 8) years after the Maturity Datedate of this Agreement. In addition, any such substitution shall be subject, in each case, to the satisfaction of the following conditions precedent:

Substitution of Properties. Subject to the terms and conditions set forth in this SectionSection 2.6, on and after the Release Date, Borrower may obtain a release of the Lien of a the Mortgage (and the related Loan Documents) encumbering an the Individual Property (a the “Substituted Property”) ), by substituting therefor its interest in one or more properties of like kind and quality acquired by Borrower (individually, a “Substitute Property” and collectively, the “Substitute Properties”), provided that no such substitution may occur after the date that is three eight (3) months prior to 8) years after the Maturity Datedate of this Agreement. In addition, any such substitution shall be subject, in each case, to the satisfaction of the following conditions precedent: