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 4 contracts

Samples: Loan Agreement (Capital Automotive Reit), Loan Agreement (Capital Automotive Reit), Loan Agreement (Capital Automotive Reit)

AutoNDA by SimpleDocs

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 3 contracts

Samples: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities 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 or in the ordinary course of such Borrower's businessbusiness in its reasonable judgment and consistent with the Prudent Manager Standard.

Appears in 3 contracts

Samples: Loan Agreement (Prime Retail Lp), Loan Agreement (Horizon Group Properties Inc), Loan Agreement (Prime Retail Lp)

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 herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower's business

Appears in 3 contracts

Samples: Mezzanine Loan Agreement (Maguire Properties Inc), Junior Mezzanine Loan Agreement (Maguire Properties Inc), Senior Mezzanine 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 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 (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 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 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 (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 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 (Hilton Hotels Corp)

Debt Cancellation. Borrower shall not cancel or otherwise ----------------- forgive or release any claim or debt (other than termination of actions with respect to 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 (New Plan Excel Realty 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 (except for Tenants and only in accordance with Section 4.13 hereof), except for adequate consideration and in the ordinary course of Borrower's business.

Appears in 1 contract

Samples: Loan Agreement (Acadia Realty Trust)

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 (a) the cancellation, forgiveness or release of any claim or debt less than $60,000.00, which is done in the ordinary course of Borrower's ’s business, or (b) otherwise, with the prior written consent of the Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed.

Appears in 1 contract

Samples: Loan Agreement (KBS Growth & Income REIT, Inc.)

AutoNDA by SimpleDocs

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 1 contract

Samples: Loan Agreement (Capstar Hotel Co)

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 of, any Borrower's business.

Appears in 1 contract

Samples: Loan Agreement (Horizon Group 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 45 Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower's business.

Appears in 1 contract

Samples: Loan Agreement (Inland Western Retail Real Estate 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 such Borrower's businessprudent business judgment.

Appears in 1 contract

Samples: Loan Agreement (Daka International 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 as otherwise permitted under this Agreement.

Appears in 1 contract

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

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