Release Instruments definition
Examples of Release Instruments in a sentence
Borrower will pay all reasonable costs and expenses incurred by Lender in connection with the Defeasance in full on or prior to the Defeasance Closing Date, which payment is required prior to Lender’s issuance of the Release Instruments and whether or not Defeasance is completed.
The Collateral Agent shall execute, acknowledge, if applicable, and deliver to the Borrower counterparts of the documents described in Sections 9.3(b)(1) and 9.3(b)(2) within five (5) Business Days of receipt by the Collateral Agent of a Release provided that the conditions set forth in the Release Instruments and herein with respect to dispositions of Collateral have been satisfied.
To the extent any Release Instrument executed and delivered under Section 2.5.1(b) is insufficient to effect the release to be effected in accordance with the terms hereof, Lender (and any servicer in connection with a Securitization) shall remain obligated to execute and deliver, at the expense of the Borrower, such further Release Instruments as Borrower may reasonably request and submit to Lender.
To the extent any Release Instrument executed and delivered under Section 2.4.1(b) is insufficient to effect the release to be effected in accordance with the terms hereof, Lender (and Servicer) shall remain obligated to execute and deliver, at Borrower’s expense, such further Release Instruments as Borrower may reasonably request and submit to Lender, together with an Officer’s Certificate covering the matters to be covered in the Officer’s Certificate described in Section 2.4.1(b).
Lender shall execute such Release Instruments on or prior to the Defeasance Date if all of the conditions herein to such release of Liens have been satisfied.