Release Amount definition

Release Amount means, for a Property, the following applicable amount together with any other amounts specified in Section 2.4.4:

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Release Amount has the meaning set forth in Section 4.3(f).

Release Amount means, as of the related Release Date, the aggregate Release Price deposited for a retransfer of Receivables under Section 5.05 and 7.03(c) and the aggregate Defaulted Receivable Release Price deposited for a retransfer of Defaulted Receivables under Section 5.05(e).

Examples of Release Amount in a sentence

• Bank’s security interest in a Collateral Asset, REO Property or the Collateral as a whole, shall terminate only upon (i) in the case of an individual Collateral Asset or REO Property, as applicable, the repayment in full of the Release Amount with respect thereto in accordance with this Agreement, and (ii) in the case of the Collateral as a whole, the payment in full of all Obligations and the Bank’s commitment to Borrower under this Agreement has been terminated.

• In the event the Borrower is not the successful bidder at the Foreclosure Action, then the Release Amount shall be paid to the Bank on the date of the conveyance of title of the Mortgaged Property to the successful bidder.

• The Master Issuer shall instruct the Trustee in writing to distribute the remainder of the Principal Release Amount, if any, in the priority set forth in the Priority of Payments, beginning at priority (xi), but excluding (i) priority (xv) in the case of a Principal Release Amount with respect to any Series of Senior Subordinated Notes or (ii) priority (xx) in the case of a Principal Release Amount with respect to any Series of Subordinated Notes.

• The Master Issuer shall instruct the Trustee in writing to distribute the remainder of such Principal Release Amount, if any, in the priority set forth in the Priority of Payments, beginning at priority (xi), but excluding (i) priority (xv) in the case of a Principal Release Amount with respect to any Series of Senior Subordinated Notes or (ii) priority (xx) in the case of a Principal Release Amount with respect to any Series of Subordinated Notes.

• Failure to pay any applicable Release Amount due to Bank in accordance with this Section within five (5) Business Days after written demand therefor shall be an immediate Event of Default.

More Definitions of Release Amount

Release Amount means, for an Individual Property, the lesser of:

Release Amount has the meaning set forth in Section 3.2(g) hereof.

Release Amount. With respect to any Purchased Asset, an amount equal to the lesser of (i) the Release Percentage multiplied by the unpaid Purchase Price of the related Purchased Asset, and (ii) the Aggregate Amount Outstanding.

Release Amount means for an Individual Property the amount set forth on Schedule I hereto.

Release Amount means for an Individual Property the amount set forth on Schedule 1.4 hereto, as the same may be reduced pursuant to Section 2.4.2.

Release Amount means, for an individual Mortgaged Property, the lesser of: (a) the outstanding debt amount (plus interest and any other amounts that may be due); or (b) an amount equal to the allocated loan amount for such Release Property (the “Allocated Loan Amount”) multiplied by (1) 105% until such time that the outstanding Whole Loan amount has been reduced to $927,500,000 and (2) thereafter, 110%. In addition, if the debt service coverage ratio requirement in connection with a partial release is not satisfied and the release of an individual Mortgaged Property is in connection with an arms-length transaction to a third party (provided that if a Blackstone entity controls the related Mortgagor, such transfer may be to an affiliate in certain circumstances), or pursuant to a tenant purchase option, the Mortgagors may obtain the release of such Mortgaged Property upon a partial defeasance of the Whole Loan in an amount (the “Low DSCR Release Amount”) equal to the lesser of (i) 100% of the net sales proceeds derived from the sale of such individual Mortgaged Property and (ii) the greater of (x) the applicable Release Amount for such individual Mortgaged Property and (y) an amount necessary to, after giving effect to such release, satisfy the foregoing debt service coverage ratio requirement. Such provision may result in a Mortgaged Property being released upon prepayment or defeasance of an amount that is less than its Allocated Loan Amount, subject to satisfaction of REMIC related requirements. In the event of any release of a portion of an individual Mortgaged Property (each, an “Individual Property”) that is not (x) a full Individual Property release subject to the Whole Loan documents or (y) a release of any parcels or rights that are non-income producing or not essential to the operation of the Mortgaged Properties in accordance with the Whole Loan documents, the lender has agreed that consent to such release is not required to be conditioned upon a partial defeasance of the Loan in excess of the lesser of (x) the lender’s allocation of 100% of the net sales proceeds derived from the sale of such portion of such Individual Property or (y) the agreed upon release amount for the release of such portion of the Individual Property, unless a greater amount is required to be partially defeased in order for the securitization to maintain its status as a REMIC trust. In connection with a release in connection with any purchase option granted to a tenant (each such purchas...

Release Amount. As defined in the Mortgage Loan Agreement.