Defeasance Release Date definition

Defeasance Release Date has the meaning provided in Section 2.10.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Defeasance Release Date has the meaning provided in Section ----------------------- ------- 2.11(a). -------

Defeasance Release Date has the meaning provided in Section 6.14(b).

Examples of Defeasance Release Date in a sentence

• If, at the expiration of the Holdback Release Period, the Holdback Reserve Funds remain on deposit with Lender (the “Remaining Holdback Reserve Funds”), then the Holdback Reserve Funds shall be released to Borrower and Borrower shall on the Partial Defeasance Release Date cause a Partial Defeasance as set forth in Section 2.5.2 hereof.

• Upon such assignment and assumption, Borrower and Guarantor shall be relieved of its obligations under this Agreement and the Note (or the Defeased Note, as applicable), the other Loan Documents and the Defeasance Security Agreement first arising from and after the Defeasance Release Date, except as expressly set forth in the assignment and assumption agreement, and with respect to Guarantor, except for any surviving obligations or liabilities under the Guaranty and Environmental Indemnity.

• If any notice of defeasance is given, Borrower shall be required to defease the Loan on the Defeasance Release Date (unless such notice is revoked in writing by Borrower prior to the date specified therein in which event Borrower shall immediately reimburse Lender for any reasonable costs incurred by Lender in connection with Borrower’s giving of such notice and revocation).

More Definitions of Defeasance Release Date

Defeasance Release Date has the meaning assigned to such term in Section 2.5(a)(ii).

Defeasance Release Date the earlier to occur of (i) the thirty-sixth (36th) Payment Date of the Term and (ii) the date that is two (2) years from the “startup day” (within the meaning of Section 860G(a)(9) of the Code) of the REMIC Trust established in connection with the last Securitization involving any portion of the Loan. Deposit Bank: Wachovia Bank, National Association, a national banking association, or such other bank or depository selected by Lender in its discretion.

Defeasance Release Date. Difference," "Earn-Out Advance," "Final Rate Lock," "Initial Interest Rate," "Initial Securitization Expense Amount," "Maximum Additional Facility Advance Amount," "Optional Prepayment Date," "Preferred Cash Collateral Account," "Preferred Cash Collateral Account Bank," "Preferred Cash Management Agreement", "Preferred Equity Holder," "Recalculated Loan Amount," "Recourse Distributions," "Remaining Property," "Replaced Property," "Required Base Debt Service Payment," "Revises Interest Rate," "Securitization Costs," "Securitization Expense Sub-Account," "Spread " "Stabilization Date," "Stabilization Date Loan Amount," "Stabilization Date Payment Date," "Stabilization Interest Rate," "Stabilization Optimum Debt Service Coverage Ratio," "Successor Obligor," "Substitute Loan Documents," "Substitute Property," "Ten Year Treasury Rate," "Treasury Rate," "Unpaid Excess Loan Amount," "Underwriting NOI Criteria," "Unpaid Excess Loan Amount," "Warrant," "Security Agreement."

Defeasance Release Date shall have the meaning set forth in Section 2.8(a)(ii) hereof.

Defeasance Release Date has the meaning provided in Section 6.14(c).