Voluntary Defeasance of the Note Sample Clauses

Voluntary Defeasance of the Note. (a) Subject to the terms and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Loan evidenced by the Note (hereinafter, a "Defeasance"); provided, that no such Defeasance may occur prior to the Release Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Voluntary Defeasance of the Note. (a) Subject to the terms and conditions set forth in this Section 2.3.3, Borrower may defease the entire amount of the Principal (a “Full Defeasance”) or a portion of the Principal (a “Partial Defeasance”) (any such Full Defeasance or Partial Defeasance, a “Defeasance”); provided, that no Defeasance may occur (i) prior to the Start–up Date, (ii) if an Event of Default shall have occurred (unless such Event of Default will be cured by the Defeasance) and (iii) on any date other than a Payment Date. Each Defeasance shall be subject, in each case, to the satisfaction of all of the following conditions precedent:
Sample 1Sample 2See All (5)
Voluntary Defeasance of the Note. (a) Subject to the terms and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal (hereinafter, a "DEFEASANCE"); provided, that no such Defeasance may occur after the Conversion Date and prior to the Release Date and provided from time to time no Defeasance shall be required from and after the Optional Prepayment Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:
Sample 1
Voluntary Defeasance of the Note. (a) Subject to the terms and conditions set forth in this Sec- tion 2.3.7, Borrower may defease all or any portion of the Loan evidenced by any or all of the Note (hereinafter, a "Defeasance"); provided, that no such Defeasance may occur prior to the Release Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:
Sample 1
Voluntary Defeasance of the Note. (a) After the Optional Defeasance Date and subject to the terms and conditions set forth in this Section 2.3.2, Borrower may defease all (but not less than all) of the Loan evidenced by the Note with U.S. Government Securities (a "DEFEASANCE"). Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:
Sample 1
Voluntary Defeasance of the Note. (a) On or after the Optional Defeasance Date (defined below) subject to the terms and conditions set forth in this Section 3.2, Borrower may defease all or any portion of the Loan evidenced by the Note (a "Defeasance") with ---------- Defeasance Collateral (defined below); provided that a partial defeasance of the Note shall be permitted only in connection with the release of one or more Properties in accordance with Section 4. Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:
Sample 1

Related to Voluntary Defeasance of the Note

  • Satisfaction, Discharge and Defeasance of the Notes (a) Upon satisfaction of the conditions set forth in Section 4.2(b) below, the Issuer shall be deemed to have paid and discharged the entire indebtedness on all the Notes Outstanding, and the provisions of this Indenture, as it relates to such Notes, shall no longer be in effect (and the Indenture Trustee, at the expense of the Issuer, shall execute proper instruments acknowledging the same), except as to:

  • 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.

  • Option to Effect Defeasance or Covenant Defeasance The Issuer may, at the option of its Board of Directors evidenced by a Board Resolution set forth in an Officer’s Certificate, at any time, elect to have either SECTION 8.2 or 8.3 hereof applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII.

  • 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.

  • 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.

  • 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:

  • 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: In order to exercise either Legal Defeasance or Covenant Defeasance:

  • Legal Defeasance and Covenant Defeasance Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance........................................... 77 Section 8.02 Legal Defeasance and Discharge.......................... 77 Section 8.03

  • Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance If, pursuant to Section 3.1, provision is made for either or both of (a) Defeasance of the Securities of a series under Section 13.2 or (b) Covenant Defeasance of the Securities of a series under Section 13.3, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article XIII, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution or in any other manner specified as contemplated by Section 3.1, at any time, with respect to the Securities of such series, elect to have either Section 13.2 (if applicable) or Section 13.3 (if applicable) be applied to the Outstanding Securities of such series upon compliance with the conditions set forth below in this Article XIII.

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