Common use of Application of Release Price Clause in Contracts

Application of Release Price. The Release Price shall be applied ---------------------------- against the Revolving Advances Outstanding until there are no further Revolving Advances Outstanding, and thereafter shall be held by the Lender (or its appointed collateral agent) as substituted Collateral ("Substituted Cash ---------------- Collateral"), in accordance with a security agreement and other documents in ---------- form and substance acceptable to the Lender (or, at the Borrower's option, may be applied against the prepayment of Base Facility Advances, so long as the prepayment is permitted under the Base Facility Note for the Base Facility Advance). Any portion of the Release Price held as Substituted Cash Collateral may be released if, immediately after giving effect to the release, each of the conditions set forth in Section 7.03(a) below shall have been satisfied. If, on the date on which the Borrower pays the Release Price, Revolving Advances are Outstanding but are not then due and payable, the Lender shall hold the payments as additional Collateral for the Credit Facility, until the next date on which Revolving Advances are due and payable, at which time the Lender shall apply the amounts held by it to the amounts of the Revolving Advances due and payable.

Application of Release Price. The Release Price shall be applied ---------------------------- against the Revolving Facility Advances Outstanding until there are no further Revolving Facility Advances Outstanding, and thereafter shall be held by the Lender (or its appointed collateral agent) as substituted Collateral ("Substituted Cash ---------------- CollateralSUBSTITUTED CASH COLLATERAL"), ) in accordance with a security agreement and other documents in ---------- form and substance acceptable to the Lender (or, at the Borrower's option, may be applied against the prepayment of Base Facility Advances, so long as the prepayment is permitted under the Base Facility Note for the Base Facility Advance). Any portion of the Release Price held as Substituted Cash Collateral may be released if, immediately after giving effect to the release, each of the conditions set forth in Section 7.03(a) below shall have been satisfied. If, on the date on which the Borrower pays the Release Price, Revolving Facility Advances are Outstanding but are not then due and payable, the Lender shall hold the payments as additional Collateral for the Credit Facility, until the next date on which Revolving Facility Advances are due and payable, at which time the Lender shall apply the amounts held by it to the amounts of the Revolving Facility Advances due and payable.

Application of Release Price. The Release Price shall be applied ---------------------------- against the Revolving Variable Advances Outstanding until there are no further Revolving Variable Advances Outstanding, and thereafter shall be held by the Lender (or its appointed collateral agent) as substituted Collateral ("Substituted Cash ---------------- CollateralSUBSTITUTED CASH COLLATERAL"), in accordance with a security agreement and other documents in ---------- form and substance acceptable to the Lender (or, at the Borrower's option, may be applied against the prepayment of Base Fixed Facility Advances, so long as the prepayment is permitted under the Base Fixed Facility Note for the Base Fixed Facility Advance). Any portion of the Release Price held as Substituted Cash Collateral may be released if, immediately after giving effect to the release, each of the conditions set forth in Section 7.03(a) below shall have been satisfied. If, on the date on which the Borrower pays the Release Price, Revolving Variable Advances are Outstanding but are not then due and payable, the Lender shall hold the payments as additional Collateral for the Credit Facility, until the next date on which Revolving Variable Advances are due and payable, at which time the Lender shall apply the amounts held by it to the amounts of the Revolving Variable Advances due and payable.

Application of Release Price. The portion of the Release Price equal to 100% of the Allocable Facility Amount for the Release Property shall be applied ---------------------------- first against the Revolving Variable Advances Outstanding until there are no further Revolving Variable Advances Outstanding, and thereafter then against the prepayment of Fixed Advances Outstanding, so long as the prepayment is permitted under the applicable Fixed Facility Note. The remainder of the Release Price shall be held by the Lender (or its appointed collateral agent) as substituted substitute Collateral ("Substituted Substitute Cash ---------------- Collateral"), in accordance with a security agreement and other documents in ---------- form and substance acceptable to Lender. Substitute Cash Collateral remaining will be returned to the Lender Borrower on (orA) if the Recourse Termination Date has not occurred, at in whole or in part, from time to time, upon written request of the Borrower's option, may be applied against the prepayment of Base Facility Advances, so long as the prepayment is permitted under the Base Facility Note for the Base Facility Advance). Any portion of the Release Price held as Substituted Cash Collateral may be released ifprovided that, immediately after giving effect to such return, the release, each Coverage and LTV Tests will be satisfied (calculated using the definition of the conditions "Facility Debt Service" set forth in Section 7.03(aparagraph (b) below shall have been satisfiedof such definition), and (B) if the Recourse Termination Date has occurred, the Termination Date. If, on the date on which the Borrower pays the Release Price, Revolving Variable Advances are Outstanding but are not then due and payable, the Lender shall hold the payments Release Price as additional Collateral for the Credit FacilityCollateral, until the next date on which Revolving Variable Advances are due and payable, at which time the Lender shall apply the amounts held by it to the amounts appropriate portion of the Revolving Advances due and payableRelease Price to such Variable Advances.