Common use of Debt Cancellation Clause in Contracts

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 212 contracts

Samples: Loan Agreement (Industrial Logistics Properties Trust), Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC)

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Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business.

Appears in 91 contracts

Samples: Loan Agreement (Wheeler Real Estate Investment Trust, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 35 contracts

Samples: Loan Agreement (Reading International Inc), Loan Agreement (Pacific Oak Strategic Opportunity REIT II, Inc.), Senior Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

Debt Cancellation. Borrower shall not cancel Cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 28 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Affordable Residential Communities Inc)

Debt Cancellation. Borrower shall not cancel Cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to the Borrower by any a Person, except for adequate consideration and or in the ordinary course of the Borrower’s businessbusiness in its reasonable judgment.

Appears in 25 contracts

Samples: Borrower Loan Agreement, Borrower Loan Agreement, Borrower Loan Agreement

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 21 contracts

Samples: Loan Agreement (Parkway, Inc.), Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Loan Agreement (Toys R Us Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 19 contracts

Samples: Loan Agreement (NOVONIX LTD), Loan Agreement (NOVONIX LTD), Loan Agreement (Medalist Diversified REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerXxxxxxxx’s business.

Appears in 11 contracts

Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Net Lease Office Properties), Loan Agreement (Wheeler Real Estate Investment Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 10 contracts

Samples: Loan Agreement, Loan Agreement (Terra Tech Corp.), Loan Agreement (Terra Tech Corp.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 9 contracts

Samples: Loan Agreement (American Realty Capital New York City REIT, Inc.), Loan Agreement (American Finance Trust, Inc), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s 's business.

Appears in 7 contracts

Samples: Loan Agreement (Parking REIT, Inc.), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower or Operating Lessee by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Operating Lessee’s business.

Appears in 6 contracts

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

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerBxxxxxxx’s business.

Appears in 6 contracts

Samples: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (W. P. Carey Inc.), Loan Agreement (Healthcare Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or allow Owner to cancel or otherwise forgive or release) any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower (or Owner) by any Person, except for adequate consideration and in the ordinary course of Borrower’s (or Owner’s) business.

Appears in 6 contracts

Samples: Senior Mezzanine Loan Agreement (Maguire Properties Inc), Mezzanine Loan Agreement (Morgans Hotel Group Co.), Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithsubject to the requirements hereof) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 5 contracts

Samples: Loan Agreement (Americold Realty Trust), Loan Agreement (Americold Realty Trust), Loan Agreement (Americold Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith or settlement of Tenant or similar disputes) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 5 contracts

Samples: Loan Agreement (SITE Centers Corp.), Loan Agreement (Retail Value Inc.), Loan Agreement (Retail Value Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration or as is prudent and commercially reasonable and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Samples: Mezzanine Loan Agreement (Wyndham International Inc), Mezzanine Loan Agreement (Wyndham International Inc), Mezzanine Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than the termination of Leases in accordance herewithherewith and the settlement of claims against Tenants and/or service providers in connection with such Persons’ defaults) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Samples: Loan Agreement (Alexanders Inc), Loan Agreement (Alexanders Inc), Loan Agreement (Urban Edge Properties)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 4 contracts

Samples: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc), Loan Agreement (Strategic Hotels & Resorts, Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerXxxxxxxx’s business.

Appears in 4 contracts

Samples: Loan Agreement (Nexpoint Diversified Real Estate Trust), Loan Agreement (reAlpha Tech Corp.), Senior Loan Agreement (Pacific Oak Strategic Opportunity REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Samples: Loan and Security Agreement (Fortress Credit Realty Income Trust), Loan Agreement (Spirit Finance Corp), Loan Agreement (Spirit Finance Corp)

Debt Cancellation. Borrower shall not, and shall not permit Operating Company to, cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Samples: Loan Agreement, Loan Agreement (Harrahs Entertainment Inc), Loan Agreement (Harrahs Entertainment Inc)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business.

Appears in 4 contracts

Samples: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrowers by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers’ business.

Appears in 4 contracts

Samples: Credit Agreement (FelCor Lodging LP), Revolving Credit Agreement (FelCor Lodging Trust Inc), Credit Agreement (FelCor Lodging Trust Inc)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 4 contracts

Samples: Loan Agreement (Bref Hr, LLC), Loan Agreement (Hard Rock Hotel Holdings, LLC), Loan Agreement (Morgans Hotel Group Co.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement and the Mortgage Loan Agreement) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 3 contracts

Samples: Mezzanine Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine Loan Agreement (Morgans Hotel Group Co.)

Debt Cancellation. Neither Borrower shall not cancel or otherwise forgive or release any claim or debt (other than in connection with termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 3 contracts

Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)

Debt Cancellation. No Borrower nor any Property Owner shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 3 contracts

Samples: Senior Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (Gramercy Capital Corp), Senior Mezzanine Loan Agreement (Gramercy Capital Corp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business.

Appears in 3 contracts

Samples: Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Bluerock Residential Growth REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business in its reasonable judgment.

Appears in 3 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 3 contracts

Samples: Mezzanine Loan Agreement (Industrial Logistics Properties Trust), Mezzanine Loan Agreement (Industrial Logistics Properties Trust), Mezzanine Loan Agreement (Industrial Logistics Properties Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, other than rent abatements or concessions in the ordinary course of business.

Appears in 3 contracts

Samples: Loan Agreement (City Office REIT, Inc.), Loan Agreement (City Office REIT, Inc.), Loan Agreement (City Office REIT, Inc.)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business's business in its reasonable judgment.

Appears in 2 contracts

Samples: Loan Agreement (Innkeepers Usa Trust/Fl), Loan Agreement (Innkeepers Usa Trust/Fl)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business.

Appears in 2 contracts

Samples: Loan Agreement (Lodgian Inc), Loan Agreement (Servico Market Center Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 2 contracts

Samples: Loan Agreement (Wyndham International Inc), Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination or modification of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Capitalsource Inc), Mezzanine Loan Agreement (Capitalsource Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Cole Credit Property Trust Inc), Mezzanine Loan Agreement (Cole Credit Property Trust III, Inc.)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement and the Mortgage Loan Agreement) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration (or other good faith business reasons) and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (NorthStar Healthcare Income, Inc.), Mezzanine Loan Agreement (Northstar Realty Finance Corp.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination or amendment of Leases in accordance herewithherewith or in accordance with the terms of the Leases) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Industrial Logistics Properties Trust), Loan Agreement (Industrial Logistics Properties Trust)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrowers by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers' business.

Appears in 2 contracts

Samples: Revolving Credit Agreement (FelCor Lodging LP), Revolving Credit Agreement (FelCor Lodging Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any PersonPerson if such cancellation or forgiveness has a Material Adverse Effect with respect to Borrower or the current and/or intended operation of the Property, except for adequate consideration and or in the ordinary course of Borrower’s businessbusiness (including Borrower’s determination that any account receivable is uncollectable).

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Consolidated Tomoka Land Co)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s its business. Borrower shall not permit any Master Tenant to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed by any Tenant unless such cancellation, forgiveness or release is consistent with a commercially reasonable operation of the related Individual Property.

Appears in 2 contracts

Samples: Loan Agreement (Lineage, Inc.), Loan Agreement (Lineage, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. Borrower shall not permit or cause Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 2 contracts

Samples: Loan Amendment (Vici Properties Inc.), Mezzanine Loan Agreement (Vici Properties Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the surrender or termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (W2007 Grace Acquisition I Inc), Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases or Hotel Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Host Marriott Corp/), Loan Agreement (Host Marriott L P)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or for other legal or business considerations deemed prudent by Borrower.

Appears in 2 contracts

Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewithherewith or in accordance with the terms of such Leases) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Griffin Capital Essential Asset REIT II, Inc.), Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith Section 5.2.14 hereof or, provided that no Event of Default is then continuing, forgiveness in the ordinary course of Xxxxxxxx’s business of Rent in arrears or in connection with a settlement with a Tenant under a Lease) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerXxxxxxxx’s business.

Appears in 2 contracts

Samples: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Apartment Income REIT, L.P.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (American Realty Capital Hospitality Trust, Inc.), Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith and for claims of less than $20,000) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration (or other good faith business reasons) and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Northstar Realty Finance Corp.), Loan Agreement (NorthStar Healthcare Income, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement, Mezzanine Loan Agreement (TNP Strategic Retail Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, provided, that, nothing contained in this Section shall in and of itself require Borrower to pursue collection of debts in a manner that is not commercially reasonable.

Appears in 2 contracts

Samples: Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or permit Owner to cancel or otherwise forgive or release) any claim or debt (other than the surrender or termination of Leases in accordance herewith) owed to Borrower or Owner by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Owner’s business.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (W2007 Grace Acquisition I Inc), Mezzanine Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Generation Income Properties, Inc.), Loan Agreement (Generation Income Properties, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business, or otherwise pursuant to a Vacate Agreement entered into in accordance with the Escrow Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Ambase Corp), Loan Agreement (Ambase Corp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 2 contracts

Samples: Loan Agreement (Bon Ton Stores Inc), Loan Agreement (Bon Ton Stores Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases Leases, and then only to the extent permitted in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Building Loan Agreement (ACRES Commercial Realty Corp.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases or Unit Sale Contracts in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Howard Hughes Corp)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers’ business, provided, that, nothing contained in this Section shall in and of itself require any Borrower to pursue collection of debts in a manner that is not commercially reasonable.

Appears in 1 contract

Samples: Loan Agreement (Wells Real Estate Investment Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Cole Corporate Income Trust, Inc.)

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Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrower, HHSD or Operating Lessee by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Operating Lessee’s business.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in to the ordinary course of Borrower’s businessextent such cancellation, forgiveness or release would not have an Individual Material Adverse Effect.

Appears in 1 contract

Samples: Loan Agreement (Orion Office REIT Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or if such cancellation, forgiveness or release is prudent and commercially reasonable.

Appears in 1 contract

Samples: Loan Agreement (Sunstone Hotel Investors, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s 's business.

Appears in 1 contract

Samples: Loan Agreement (EQT Exeter Real Estate Income Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or as otherwise approved by Administrative Agent in Administrative Agent’s reasonable discretion.

Appears in 1 contract

Samples: Term Loan Agreement (New York City REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Gramercy Capital Corp)

Debt Cancellation. Borrower shall not, and shall not permit Mortgage Borrower to, cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (New York REIT, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and Person (other than in connection with the settlement of claims with respect to Rents as expressly permitted in the ordinary course of Borrower’s businessLoan Documents).

Appears in 1 contract

Samples: Loan Agreement (Pacific Office Properties Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business other than receivables from previous limited partners of the Borrowers in an aggregate amount not to exceed $1,000,000.

Appears in 1 contract

Samples: Loan Agreement (Grove Property Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith or the terms of the Master Lease) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Sothebys)

Debt Cancellation. Borrower shall not cancel or otherwise forgive ----------------- or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 1 contract

Samples: Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or permit Owner to cancel or otherwise forgive or release) any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower (or Owner) by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.(or Owner’s) business.‌

Appears in 1 contract

Samples: Mezzanine Loan Agreement

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or permit any Borrower Subsidiary to cancel or otherwise forgive or release) any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower such Person by any other Person, except for adequate consideration and in the ordinary course of Borrower’s (or such Borrower Subsidiary’s) business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (New York REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerBxxxxxxx’s business.

Appears in 1 contract

Samples: Promissory Note (FX Real Estate & Entertainment Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower's business. In addition, Borrower shall not permit or cause Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith the Mortgage Loan Agreement) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s 's business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of Borrowersuch Xxxxxxxx’s business.

Appears in 1 contract

Samples: Loan Agreement (GTJ Reit, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any a Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Term Loan Agreement (Wells Core Office Income Reit Inc)

Debt Cancellation. Borrower shall not and shall not permit Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s and Mortgage Borrower’s business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Plymouth Industrial REIT Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s 's business.

Appears in 1 contract

Samples: Loan Agreement (Reckson Operating Partnership Lp)

Debt Cancellation. Each Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of any Borrower’s 's business.

Appears in 1 contract

Samples: Loan Agreement (Ventas Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or allow any Owner to cancel or otherwise forgive or release) any claim or debt (other than termination of Leases in accordance herewithLeases) owed to Borrower (or any Owner) by any Person, except for adequate consideration and in the ordinary course of a Borrower’s 's (or an Owner's) business.

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or material debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, or with the consent of Lender, which consent shall not be unreasonably withheld.

Appears in 1 contract

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

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerBxxxxxxx’s business.

Appears in 1 contract

Samples: Loan Agreement (Lazydays Holdings, Inc.)

Debt Cancellation. . Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower's business. Borrower shall not permit Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith the Mortgage Loan Documents) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s 's business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Prime Group Realty Trust)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Strategic Storage Trust II, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any a Person, except for adequate consideration and or in the ordinary course of Borrower’s 's business.

Appears in 1 contract

Samples: Loan Agreement (Corporate Property Associates 17 - Global INC)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, and except that (if applicable) cancellation, forgiveness or releases in respect of Hotel Transactions may be effected in Borrower’s reasonable business judgment.

Appears in 1 contract

Samples: Loan Agreement (Moody National REIT I, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. Borrower shall not permit Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance with the Mortgage Loan Documents) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Telx Group, Inc.)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (STAG Industrial, Inc.)

Debt Cancellation. Borrower shall not (and shall not permit Senior Borrower to) cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower or Senior Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Senior Borrower’s business.

Appears in 1 contract

Samples: Second Mezzanine Loan Agreement (Clipper Realty Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s Xxxxxxxx's business.

Appears in 1 contract

Samples: Loan Agreement (Cedar Realty Trust, Inc.)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Clipper Realty Inc.)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Global Net Lease, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than in connection with termination of Leases in accordance herewithherewith or with Transfers permitted hereunder) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (Plymouth Industrial REIT Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, including any arising under any of the Leases, if applicable, the Property Management Agreement and Material Agreements except for adequate consideration and in the ordinary course of Borrower’s businessbusiness and on commercially reasonable terms, subject to other restrictions contained herein or in any other Loan Document.

Appears in 1 contract

Samples: Loan Agreement (Colony Resorts LVH Acquisitions LLC)

Debt Cancellation. Other than respect to any Lease, Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Samples: Loan Agreement (AG Mortgage Investment Trust, Inc.)

Debt Cancellation. Neither Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers' business.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any PersonPerson if such cancellation or forgiveness has a material adverse effect on Borrower or the current and/or intended operation of the Property, except for adequate consideration and or in the ordinary course of Borrower’s businessbusiness (including Borrower’s determination that any account receivable is uncollectable).

Appears in 1 contract

Samples: Loan Agreement (Consolidated Tomoka Land Co)

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