DISBURSEMENTS UPON PARTIAL RELEASE Clause Samples

DISBURSEMENTS UPON PARTIAL RELEASE. Upon a Partial Release in accordance with the terms and conditions of Section 5.34 hereof, provided that no Default or Event of Default has occurred and is continuing, Lender shall disburse to Borrower that portion of the Reserve Funds allocable to the Partial Release Property, as determined by Lender, unless Lender determines, in its sole and absolute discretion, that such Reserve Funds will be needed for the purposes held therefor with respect to the remaining Properties after giving effect to the subject Partial Release.