No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Debt shall remain unpaid, unless Lender shall otherwise consent in writing, the fee title to the Premises and the leasehold estate therein created pursuant to the provisions of the Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrower, Lender, or in any other person by purchase, operation of law or otherwise. Lender reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estate created by the Ground Lease, with or without consideration, at Lender’s election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents and any such release shall not affect Lender’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Debt shall remain unpaid, unless Mortgagee shall otherwise consent in writing, which consent may be given or withheld in Mortgagee’s sole and absolute discretion, the fee title to the Land and the Leasehold Estate shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Mortgagor, Fee Owner, or in any other person or entity by purchase, operation of law or otherwise. Mortgagee reserves the right, at any time, to release portions of the Property, including, but not limited to, the Leasehold Estate, with or without consideration, at Mortgagee’s election, without waiving or affecting any of its rights hereunder or under the other Loan Documents and any such release shall not affect Mortgagee’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates; Releases. Prior to Payment in Full, unless the Administrative Agent shall otherwise consent, the fee title to that portion of the Mortgaged Property subject to the Specified Ground Lease and the leasehold estate therein created pursuant to the provisions of the Specified Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in the applicable Borrower Party, the Administrative Agent, or in any other person by purchase, operation of law or otherwise. The Collateral Agent reserves the right, at any time, to release portions of the Mortgaged Property, including, but not limited to, the leasehold estate created by the Specified Ground Lease, with or without consideration, at the Collateral Agent’s election, without waiving or affecting any of its or the Administrative Agent’s rights hereunder or under the other Loan Documents, and any such release shall not affect the Collateral Agent’s rights in connection with the portion of the Mortgaged Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Debt shall remain unpaid, unless the Required Lenders shall otherwise consent, the fee title to that portion of the applicable Individual Property subject to the Ground Lease and the leasehold estate therein created pursuant to the provisions of the Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in any Property Guarantor, Administrative Agent, or in any other Person by purchase, operation of law or otherwise. Administrative Agent reserves the right, at any time, to release portions of the such Individual Property, including the leasehold estate created by the Ground Lease, with or without consideration, at Administrative Agent’s election, without waiving or affecting any of its rights under the Loan Documents and any such release shall not affect Administrative Agent’s rights in connection with the portion of the applicable Individual Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Obligations remains unpaid or unsatisfied or until this Security Instrument is reconveyed pursuant to the terms hereof or the Loan Agreement, unless Grantee shall otherwise consent, the fee title to the Land and the leasehold estate created under the Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates by purchase, operation of Laws or otherwise. Grantee reserves the right, at any time, to release or direct Trustee to release portions of the Property, including, but not limited to, the leasehold estate created by the Operating Lease, with or without consideration, at Grantee’s election, without waiving or affecting any of its rights hereunder or under the Notes or the other Loan Documents and any such release shall not affect Grantee’s or Trustee’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Indebtedness shall remain unpaid, unless Lender shall otherwise consent, the fee title to the Ground Lease Property and the leasehold estate therein created pursuant to the provisions of the Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrower, Lender, or in any other person by purchase, operation of law or otherwise.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Loan shall remain unpaid, unless Mortgagee shall otherwise consent, the fee title to the Property and the leasehold estate therein created pursuant to the provisions of each Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Mortgagor, Mortgagee, or in any other person by purchase, operation of law or otherwise.
No Merger of Fee and Leasehold Estates; Releases. So --------------------------------------------------- long as any portion of the Debt shall remain unpaid, unless Lender shall otherwise consent, the fee title to the Leased Land and the leasehold estate therein created pursuant to the provisions of the Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrower, Owner, or in any other person by purchase, operation of law or otherwise. Lender reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estate created by the Ground Lease, with or without consideration, at Lender's election, without waiving or affecting any of its rights hereunder or under the Note or the Other Security Documents and any such release shall not affect Lender's rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Mortgage Obligations shall remain unpaid, unless Beneficiary shall otherwise consent, the fee title to the real property subject to the Mortgaged Lease and the leasehold estate therein created pursuant to the provisions of the Mortgaged Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Grantor, Beneficiary, or in any other person by purchase, operation of law or otherwise; provided, however, that no breach of the foregoing provision shall be deemed a default hereunder if, assuming the total loss of equity value with respect to the Mortgaged Lease, such result, in combination with any other then continuing events subject to the provisions of Section 8.1(k) of the Credit Agreement, would not reasonably be expected to result in an Event of Default under such Section. Beneficiary reserves the right, at any time, to release portions of the Mortgaged Property, including, but not limited to, the leasehold estate created by the Mortgaged Lease, with or without consideration, at Beneficiary’s election, without waiving or affecting any of its rights hereunder or under the Credit Agreement or the other Credit Documents and any such release shall not affect Beneficiary’s rights in connection with the portion of the Mortgaged Property not so released.
No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Obligations remains unpaid or unsatisfied or until this Security Instrument is reconveyed pursuant to the terms hereof or the Credit Agreement, unless Mortgagee shall otherwise consent, the fee title to the Land and the leasehold estates created under the Ground Lease and the Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates by purchase, operation of Laws or otherwise. Mortgagee reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estates created by the Ground Lease and the Operating Lease, with or without consideration, at Mortgagee's election, without waiving or affecting any of its rights hereunder or under the Notes or the other Loan Documents and any such release shall not affect Mortgagee's rights in connection with the portion of the Property not so released.
