Common use of Debt Cancellation Clause in Contracts

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;

Appears in 21 contracts

Samples: Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (KBS Real Estate Investment Trust, Inc.), Loan and Security Agreement (Hudson Pacific Properties, Inc.)

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Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Borrower by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;Borrower's business.

Appears in 17 contracts

Samples: Loan Agreement (Affordable Residential Communities Inc), Loan Agreement (Burnham Pacific Properties Inc), Loan Agreement (Continental Health Affiliates Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease Sublease as permitted by Section 8.8;

Appears in 13 contracts

Samples: Loan and Security Agreement (Bloomin' Brands, Inc.), Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Toys R Us Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Borrower by any Person, except for adequate consideration or in the ordinary course of its such Borrower’s and Operating Lessee’s business or otherwise if such cancellation, release or forgiveness is prudent and except for termination of a Lease as permitted by Section 8.8;commercially reasonable.

Appears in 13 contracts

Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it it, directly or indirectly, by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease Sublease as permitted by Section 8.88.8 of the Loan Agreement (Mortgage);

Appears in 7 contracts

Samples: Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc), Mezzanine Loan and Security Agreement (Station Casinos Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it any Borrower by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;such Borrowers’ business.

Appears in 5 contracts

Samples: Loan Agreement (Plymouth Industrial REIT Inc.), Loan Agreement (GTJ REIT, Inc.), Loan Agreement (GTJ REIT, Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.88.7;

Appears in 4 contracts

Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (Strategic Hotels & Resorts, Inc), Loan and Security Agreement (BlueLinx Holdings Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Borrower by any Person, except for adequate consideration or in the ordinary course of its such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and except for termination of a Lease as permitted by Section 8.8;commercially reasonable.

Appears in 3 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Borrower by any Person, except for adequate consideration or in the ordinary course of its such Borrower's and Operating Lessee's business or otherwise if such cancellation, release or forgiveness is prudent and except for termination of a Lease as permitted by Section 8.8;commercially reasonable.

Appears in 3 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Borrower by any Person, except for adequate consideration or and in the ordinary course of Borrower's business in its business and except for termination of a Lease as permitted by Section 8.8reasonable judgment;

Appears in 2 contracts

Samples: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease Sublease as permitted by Section 8.88.8 of the Mortgage Loan Agreement;

Appears in 2 contracts

Samples: Mezzanine Loan and Security Agreement (Bloomin' Brands, Inc.), Mezzanine Loan and Security Agreement (Bloomin' Brands, Inc.)

Debt Cancellation. Cancel or otherwise otherwise, forgive or release any material claim or debt owed to it Borrower by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;Borrower's business.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Capital Senior Living Corp), Mezzanine Loan Agreement (Capital Senior Living Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it such Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business in its business reasonable judgment and except for termination in a manner consistent with the operation of a Lease as permitted by Section 8.8first class retail properties;

Appears in 2 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Borrower by any Person, except for adequate consideration or and in the ordinary course of Borrower's business in its business and except for termination of a Lease as permitted by Section 8.8reasonable judgment;

Appears in 2 contracts

Samples: Loan Agreement (United Investors Realty Trust), Loan Agreement (Fac Realty Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination termination, modification or enforcement of a Lease as permitted by Section 8.8;

Appears in 1 contract

Samples: Loan and Security Agreement (Digital Realty Trust, Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Owner or Borrower by any Person, except for adequate consideration or in the ordinary course of such Owner's or Borrower's business in its business reasonable judgment and except for termination in a manner consistent with the operation of a Lease as permitted by Section 8.8first class retail properties;

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

Debt Cancellation. Cancel or otherwise otherwise, forgive or release any material claim or debt owed to it Owner by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;Owner's business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Capital Senior Living Corp)

Debt Cancellation. Cancel or otherwise forgive or release any ----------------- material claim or debt owed to it by any Tenant, Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;Tenant's business.

Appears in 1 contract

Samples: Lease Agreement (Hudson Hotels Trust)

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Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Company by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;the Company’s business.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Cyberdefender Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Borrower by any a Person, except for adequate consideration or in the ordinary course of the Borrower’s business in its business and except for termination of a Lease as permitted by reasonable judgment. Section 8.8;6.5.

Appears in 1 contract

Samples: Funding Loan Agreement

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course Ordinary Course of its business Business and except for termination of a Lease as permitted by Section 8.88.7;

Appears in 1 contract

Samples: Loan and Security Agreement (Morgans Hotel Group Co.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;business.

Appears in 1 contract

Samples: Mezzanine Loan and Security Agreement (Digital Realty Trust, Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it the Borrower by any Person, except for adequate consideration or in the ordinary course of its Borrower’s and Operating Lessee’s business or otherwise if such cancellation, release or forgiveness is prudent and except for termination of a Lease as permitted by Section 8.8;commercially reasonable.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt material Indebtedness owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for business, other than termination of a Lease as any Leases to the extent permitted by under Section 8.87.1.19;

Appears in 1 contract

Samples: Loan and Security Agreement (NRI Real Token Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Borrower or Mortgage Borrower, as applicable, by any Person, except for adequate consideration or in the ordinary course of its Borrower's or Mortgage Borrower's, as applicable, business or otherwise if such cancellation, release or forgiveness is prudent and except for termination of a Lease as permitted by Section 8.8;commercially reasonable.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any ----------------- material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;business.

Appears in 1 contract

Samples: Pledge Agreement (Cabot Industrial Trust)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it by any Person, except for adequate consideration or in the ordinary course Ordinary Course of its business Business and except for termination of a Lease as permitted by Section 8.8;8.7.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Hotels & Resorts, Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to it Borrower by any Person, except for adequate consideration or in the ordinary course of its business and except for termination of a Lease as permitted by Section 8.8;Borrower's business. 108 114

Appears in 1 contract

Samples: Loan Agreement (Alternative Living Services Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt material Indebtedness owed to it by any Person, except for adequate consideration or in the ordinary course of its business and except for business, other than termination of a Lease as any Leases to the extent permitted by under Section 8.8;7.1.19; 106

Appears in 1 contract

Samples: Mezzanine Loan and Security Agreement (NRI Real Token Inc.)

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