Release of an Individual Property. If Mortgage Borrower has elected to release an Individual Property from the Lien of the Security Instrument thereon and the requirements of this Section 2.6 have been satisfied, and provided that no Event of Default shall then exist, Borrower shall be entitled to (x) permit Mortgage Borrower to obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Mortgage Loan Documents) and (y) the release of the applicable Borrower Entity’s obligations under the Loan Documents (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. Following the expiration of the Yield Maintenance Lockout Period, provided that no Event of Default is then continuing, Borrower may cause the release of one or more Individual Properties (each a “Property Release” and the Individual Property that is subject of such release is hereinafter referred to as the “Release Property”) from the Lien of the respective Mortgage to which such Borrower is a party and the other Loan Documents and the release of the Individual Borrower (which owns the applicable Release Property) from all obligations under the Loan Documents (other than those expressly stated to survive), upon the satisfaction of each of the following conditions precedent:
Release of an Individual Property. If Mortgage Borrower has elected to release an Individual Property from the Lien of the Security Instrument thereon and the requirements of this Section 2.6 have been satisfied, and provided that no Event of Default shall then exist, Borrower shall be entitled to (x) permit Mortgage Borrower to obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Mortgage Loan Documents), (y) permit Mezzanine A Borrower to obtain the release of the Mezzanine A Collateral corresponding to the release of such Individual Property and (z) the release of the applicable Borrower Entity’s obligations under the Loan Documents (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. After the Release Date, if Borrower has elected to (x) defease a portion of the Loan and the applicable requirements of Section 2.8 hereof and this Section 2.9 have been satisfied or (y) after the Permitted Prepayment Date, prepay a portion of the Loan and the applicable requirements of Section 2.7 have been satisfied, and provided that no Event of Default shall then exist, Borrower may obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Loan Documents) and the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. Except as set forth in Section 2.3, Section 2.6, Section 6.4(e) and this Section 2.5, no repayment or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of any Lien of any Security Instrument on any Individual Property. Subject to Section 6.4(e) below, after the Lockout Date, Borrower may obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Loan Documents) upon a bona fide third-party sale of such Individual Property and the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. After the Permitted Defeasance Date, if Borrower has elected to defease a portion of the Loan and the applicable requirements of Section 2.4 hereof and this Section 2.5 have been satisfied, and provided that no Event of Default shall then exist, Borrower may obtain the release of an Individual Property (other than the Sunrise Property) from the Lien of the Security Instrument thereon (and related Loan Documents) and the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. (a) Borrowers may obtain the release (a “Partial Release”) of (A) an Individual Property from the Lien of the Mortgage and the other Security Documents and (B) from and after the date of such release, unless the applicable Borrower shall own any Remaining Individual Properties, the release of the applicable Borrower from the Loan Documents (other than with respect to those obligations that specifically survive repayment of the Debt or any portion thereof) upon the satisfaction of the following conditions (any one or more of which may be waived by Administrative Agent and Arrangers upon consent of the Required Lenders):
Release of an Individual Property. In the event that Owners elect to prepay the outstanding principal balance under the Senior Loan and obtain a release with respect to an Individual Property pursuant to the terms of either SECTION 5.2(c)(ii) or SECTION 5.3(d) of the Senior Loan Agreement, Borrowers shall only permit Owners to obtain a release of such Individual Property, if Borrowers shall cause Owners to deposit with Mezzanine Lender an amount equal to 200% of the Outstanding Principal Balance of the Mezzanine Loan applicable to such Individual Property as of such date as a prepayment thereof, and all amounts in excess of such Outstanding Principal Balance attributable to such Individual Property shall be deposited by Mezzanine Lender into the Subordinate Deposit Account and applied in such order and priority as Mezzanine Lender 374 shall determine in its sole discretion. In the event of such prepayment as aforesaid, if an Event of Default has not occurred, no Yield Maintenance Premium shall be payable by Borrowers.
Release of an Individual Property. If Borrower has elected to prepay a portion of the Loan and the requirements of Section 2.4 and this Section 2.5.2 have been satisfied, and provided that no Event of Default has occurred and is continuing at the time of the release, upon twenty (20) days’ prior written notice to Lender (the “Release Notice”) (it being agreed that Borrower may, from time to time, postpone the actual date of release of the Individual Property pursuant to this Section upon written notice to Lender of such postponement (a “Postponement”) without the requirement of delivering a new Release Notice with respect to the release of such Individual Property), Borrower may obtain the release of an Individual Property from the Lien of the Mortgage thereon (and related Loan Documents) or, at Borrower’s option, an assignment of the Mortgage relating to such Individual Property (each, “Mortgage Release Documentation”) and the release of Borrower’s obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
Release of an Individual Property. After (1) the Permitted Defeasance Date, if Borrower has elected to defease a portion of the Loan and the applicable requirements of Section 2.4 hereof and this Section 2.5 have been satisfied, and provided that no Event of Default shall then exist, or (2) the Permitted Prepayment Date, if Borrower has elected to prepay a portion of the Loan and the applicable requirements of Section 2.4 hereof and this Section 2.5 have been satisfied, and provided in either case that no Event of Default shall then exist, Borrower may obtain the release of an Individual Property from the Lien of the Security Instrument thereon (and related Loan Documents) and the release of Borrower's obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:
