Common use of Debt Cancellation Clause in Contracts

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 3 contracts

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

AutoNDA by SimpleDocs

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or and in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.in its reasonable judgment;

Appears in 2 contracts

Samples: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the such Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent in its reasonable judgment and commercially reasonable.in a manner consistent with the operation of first class retail properties;

Appears in 2 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Debt Cancellation. Cancel or otherwise otherwise, forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Capital Senior Living Corp), Mezzanine Loan Agreement (Capital Senior Living Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or and in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.in its reasonable judgment;

Appears in 2 contracts

Samples: Loan Agreement (Fac Realty Trust Inc), Loan Agreement (United Investors Realty Trust)

Debt Cancellation. Cancel or otherwise forgive or release any ----------------- material claim or debt owed to the Borrower it by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonableits business.

Appears in 1 contract

Samples: Loan Agreement (Cabot Industrial Trust)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower it by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonableits business.

Appears in 1 contract

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

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business business, or cancel or otherwise if such cancellation, forgive or release or forgiveness is prudent and commercially reasonableany obligations owed under the Mortgage Loan.

Appears in 1 contract

Samples: Loan Agreement (Asset Investors Corp)

Debt Cancellation. Cancel or otherwise otherwise, forgive or release any material claim or debt owed to the Borrower Owner by any Person, except for adequate consideration or in the ordinary course of such BorrowerOwner's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Capital Senior Living Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or ----------------- debt owed to the Borrower by any Person, except for adequate consideration or and in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (Hob Entertainment Inc /De/)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the a Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (American Real Estate Investment Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the any Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (Fortress Investment Corp)

Debt Cancellation. Cancel cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Personto, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (Rafael Holdings, Inc.)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower Company by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablethe Company’s business.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Cyberdefender Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the such Borrower by any Person, except for adequate consideration or and in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.in its reasonable judgment;

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

AutoNDA by SimpleDocs

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's ’s and Operating Lessee’s business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.business. 108 114

Appears in 1 contract

Samples: Loan Agreement (Alternative Living Services Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or and in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonableXxxxxxxx’s business.

Appears in 1 contract

Samples: Credit Agreement (Interactive Strength, Inc.)

Debt Cancellation. Cancel or otherwise forgive or release ----------------- any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower or Mortgage Borrower, as applicable, by any Person, except for adequate consideration or in the ordinary course of such Borrower's or Mortgage Borrower's, as applicable, business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any a Person, except for adequate consideration or in the ordinary course of such the Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablein its reasonable judgment.

Appears in 1 contract

Samples: Borrower Loan Agreement

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any Person, except for adequate consideration or in the ordinary course of such Borrower's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablebusiness.

Appears in 1 contract

Samples: Loan Agreement (Echelon International Corp)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Owner or Borrower by any Person, except for adequate consideration or in the ordinary course of such Owner's or Borrower's business or otherwise if such cancellation, release or forgiveness is prudent in its reasonable judgment and commercially reasonable.in a manner consistent with the operation of first class retail properties;

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

Debt Cancellation. Cancel or otherwise forgive or release any material claim or debt owed to the Borrower by any a Person, except for adequate consideration or in the ordinary course of such the Borrower's ’s business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonablein its reasonable judgment.

Appears in 1 contract

Samples: Borrower Loan Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!