Termination of Assignment. Upon payment in full of the Secured Obligations and the delivery and recording of a satisfaction, release or discharge of the Instrument duly executed by Agent, this Assignment shall become and be void and of no effect as to the Leases and Rents from the Land no longer securing the Secured Obligations.
Appears in 12 contracts
Samples: Assignment and Acceptance Agreement (Republic Property Trust), Credit Agreement (Behringer Harvard Reit I Inc), Credit Agreement (Behringer Harvard Reit I Inc)
Termination of Assignment. Upon payment in full of the Secured Obligations Debt and the termination of the obligation of the Lenders to make Loans or issue Letters of Credit, and the delivery and recording of a satisfaction, release or discharge of the Instrument duly executed by Agent, this Assignment shall become and be void and of no effect as to the Leases and Rents from the Land no longer securing the Secured ObligationsDebt.
Appears in 2 contracts
Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)
Termination of Assignment. Upon payment in full of the Secured Obligations and the termination of the obligation of the Lenders to make additional Loans or issue Letters of Credit, and the delivery and recording of a satisfaction, release or discharge of the Instrument duly executed by Agent, this Assignment shall become and be void and of no effect as to the Leases and Rents from the Land no longer securing the Secured Obligations.
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