Mortgage Release. Within five (5) Business Days after the Final Valuation is available, the Company may, by giving a written notice to the Investor, request the Investor to cause the mortgage in respect to a portion of the Mortgaged Properties to be released, such that the valuation of the remaining mortgaged portion of the Mortgaged Properties (the “Remaining Mortgaged Properties”) is at least twice of the Outstanding Principal based on the Final Valuation;
Mortgage Release. The Mortgage Holder shall have agreed to the Mortgage Release on terms that are reasonably acceptable to Sellers.
Mortgage Release. If the Property is subject to a blanket mortgage granted by Seller or a corporate predecessor of Seller, Seller will obtain a release within approximately six (6) months after Closing.
Mortgage Release. The Company acknowledges that title to certain properties of the Company and/or its Subsidiaries appear, in the official records of the relevant county, to be encumbered by a $1,200,000,000 mortgage dated May 2, 1997, in favor of Citicorp USA, Inc. The Company also acknowledges that the financial obligations underlying the mortgage have been paid off, but the documents evidencing the release of such mortgage have not been filed with the relevant county recorder. The Company shall, prior to the Closing Date, cause the relevant county recorder to record the releases and/or reconveyances evidencing the release of this mortgage on all properties of the Company and/or any of its Subsidiaries where this mortgage appears of record and unreleased.
Mortgage Release. Promptly upon the request of Borrower, the Arranger, the Agent and the Lenders agree that the Agent may and shall execute and deliver to Borrower a release, in form and content satisfactory to Borrower and Agent, of one acre of real estate from the Mortgage in order to enable Borrower to sell such released real estate to The Moog Employees Federal Credit Union for use as a parking lot.
Mortgage Release. Agent shall release its mortgage and all other collateral rights with respect to that certain real property located at 0000 X. 0xx Xxxxxx, Xxxxxxx, Xxxxxxx (the “Real Property”), in exchange for the remittance of 100% of the Net Sale Proceeds therefrom, which shall be applied as a one-time curtailment of the Renewed Term Loan Note; provided that such sale of the Real Property must be made pursuant to an arms-length transaction and on terms reasonable to the Agent in its sole discretion. For purposes of this Section 4, “Net Sale Proceeds” is defined as the cash purchase price, less customary and reasonable closing costs, less an $80,000.00 allowance to be used for purposes of transporting equipment retained by ISA to other locations. In connection with the proposed sale of the Real Property, ISA shall deliver to the Agent the purchase agreement evidencing such and a closing statement, each in form satisfactory to the Agent.
Mortgage Release. Within five (5) Business Days after the Effective Date, Lender shall have received evidence that a release of the mortgage securing the obligation described in item 5 of Schedule 2.1.1 has been duly executed and duly recorded in the county in which the property securing such obligation is located.
Mortgage Release. The Seller shall have received from Scotiabank Inverlat, S.A., Institucion de Banca Multiple, Grupo Financiero Scotiabank Inverlat, as lender under that certain Simple and Revolving Account Loan Agreement with Mortgage and Pledge Securities, dated as of July 2, 2004, a payoff letter confirming payment in full of the loans under such loan agreement, release of any Liens on the Niples Companies' assets and filings for cancellation of such Liens before the relevant Public Registries of Commerce.
Mortgage Release. Subject to Clause 2.1(b), the Mortgage shall be released on receipt of evidence, satisfactory to the Lender, that the Upfront Amount and the first Instalment have been paid on or prior to the date of this Agreement.
Mortgage Release. At the direction of the Required Lenders, the Agent agrees to deliver on or prior to the date hereof executed Mortgage Satisfaction relating to the release of mortgage of the State College Property.
