Common use of Conditions to Defeasance Clause in Contracts

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower Borrowers shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”"DEFEASANCE EVENT"), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”"DEFEASANCE EVENT"), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall be continuinghave occurred and remain uncured, Borrower shall have the right at any time after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal Loan and obtain a release of the Lien lien of the Mortgage by providing Lender with the Defeasance Collateral (hereinafter, a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Fixed Rate Loan Permitted Prepayment Date to voluntarily defease the entire amount of the Fixed Rate Principal and and, if the Floating Rate Loan has been paid in full, to obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right after the Release Date and prior to the Permitted Open Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “"Defeasance Event”"), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall be continuinghave occurred and remain uncured, Borrower shall have the right at any time after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal Loan and obtain a release of the Lien lien of the Mortgage by providing Lender with the Defeasance Collateral (hereinafter, a “"Defeasance Event”"), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall then be continuing, Borrower shall have the right at any time after the Release Lockout Expiration Date and prior to the Permitted Open Prepayment Date to voluntarily defease the entire amount of the Principal Loan and obtain a an assignment or release of the Lien lien of the Mortgage by providing Lender with the Defeasance Collateral (hereinafter, a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall be continuinghave occurred and remain uncured, Borrower shall have the right at any time after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal Loan and obtain a release of the Lien lien of the Mortgage by providing Lender with the Defeasance Collateral (hereinafter, a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right after the Release Date and prior to the Permitted Open Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage Security Instrument by providing Lender with the Defeasance Collateral (a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall have occurred and be continuing, Borrower shall have the right at any time after the Release Defeasance Lockout Date and prior to the Permitted Prepayment Maturity Date to voluntarily defease the entire amount of the Principal Loan and obtain a release of the Lien of the Mortgage on the Property by providing Lender with the Defeasance Collateral (hereinafter, a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. (a) Provided no Event of Default shall be continuinghave occurred and remain uncured, Borrower shall have the right at any time after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal Loan and obtain a release of the Lien lien of the Mortgage by providing Lender with the Defeasance Collateral (hereinafter, a “Defeasance Event”), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower Borrowers shall have the right on any Payment Date after the Lockout Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “"Defeasance Event”"), subject to the satisfaction of the following conditions precedent:

Conditions to Defeasance. Provided no Event of Default shall be continuing, Borrower shall have the right on any Payment Date after the Release Date and prior to the Permitted Prepayment Date to voluntarily defease the entire amount of the Principal and obtain a release of the Lien of the Mortgage by providing Lender with the Defeasance Collateral (a “"Defeasance Event”"), subject to the satisfaction of the following conditions precedent: