Release and Substitution. The parties intend hereby that, upon the execution of this Agreement and conveyance of the Assigned Parcel(s) to Assignee, Developer shall be released from any and all obligations under the Development Agreement arising from and after the effective date of this transfer with respect to the Assigned Parcel(s) and that Assignee shall become substituted for Developer as the “Developer” under the Development Agreement with respect to the Assigned Parcels.
Release and Substitution. 7.1 It shall be a term of the Agreement that upon parting with its interest in the Site any party shall be released from all of its respective obligations, rights and duties under the terms of the Agreement insofar as they are referable to its ownership or relate to any such part of the Site (save in respect of any liability for any prior breach of the Agreement)
Release and Substitution. IFF is hereby substituted for the Company under the Indenture and Notes and references therein to the Company shall henceforth be deemed to be to IFF, the Company is hereby released from any further obligation under the Indenture and Notes, IFF’s Guarantee under the Indenture is hereby released and the Indenture and Notes shall be deemed correspondingly amended to reflect and implement the foregoing.
Release and Substitution. (a) From and after the date hereof, BoS shall no longer be a party to the Agreement and shall have no further rights or obligations thereunder.
Release and Substitution. Following the date hereof, each of Seller and Purchaser shall cooperate together and use commercially reasonable efforts to cause the counterparties to each of the agreements listed on Schedule 5.17 to release Cascades Inc. as a party to such agreement (including with respect to all of its responsibilities and obligations thereunder) and to substitute Purchaser in lieu of Cascades Inc. as a party thereto (the “Release and Substitution”).
Release and Substitution. Upon the satisfaction of the foregoing conditions precedent, Lender will release its Lien from the Substituted Property to be released and the Substitute Property shall be deemed to be an Individual Property for purposes of this Agreement and the Substitute Allocated Loan Amount with respect to such Substitute Property shall be deemed to be the Allocated Loan Amount with respect to such Substitute Property for all purposes hereunder. If the Individual Borrower that is the owner of the Substituted Property does not own any other Individual Properties after such substitution, such Individual Borrower shall be released from its obligations under the Note and the other Loan Documents (except with respect to obligations that specifically survive repayment of the Debt) upon the assumption of its obligations by the owner of the Substitute Property.
Release and Substitution. If at any time during the period prior to the second anniversary of the Drawdown Date the Ship is sold or refinanced by banks and/or financial institutions that are not parties to this Agreement, or if the Ship becomes a Total Loss, the Borrower shall not be required to make the mandatory prepayment required under Clause 8.8 if:
Release and Substitution. The New Obligor unconditionally and irrevocably (i) releases the Existing Obligor from all obligations and liabilities under the Expense Agreements and the Trust Agreements and (ii) agrees to be substituted for the Existing Obligor under the Expense Agreements and the Trust Agreements and for all purposes is becoming (x) the "Corporation" under the Expense Agreements and (y) the "Depositor" under the Trust Agreements.
Release and Substitution. Upon the satisfaction of the foregoing conditions precedent, Lender will release its Lien from the Substituted Property to be released and the Substitute Property shall be deemed to be an Individual Property for purposes of this Agreement and the Substitute Allocated Loan Amount with respect to such Substitute Property shall be deemed to be the Allocated Loan Amount with respect to such Substitute Property for all purposes hereunder.
Release and Substitution. Upon the satisfaction of the foregoing conditions precedent, (a) Lender will release its Lien from the Substituted Property to be released, (b) the Substitute Property shall be deemed to be an Individual Property for purposes of this Agreement, (c) the Substitute Allocated Loan Amount with respect to such Substitute Property shall be deemed to be the Allocated Loan Amount with respect to such Substitute Property for all purposes hereunder and (d) the Allocated NOI of the Substituted Property shall be the Allocated NOI for the Substitute Property. [NO FURTHER TEXT ON THIS PAGE]
