Common use of No Merger of Fee and Leasehold Estates; Releases Clause in Contracts

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. So long as any portion of the Debt shall remain unpaid, unless Mortgagee Lender shall otherwise consent in writing, which consent may be given or withheld in Mortgagee’s sole and absolute discretionconsent, 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 MortgagorBorrower, Fee Owner, Ground Lessor or in any other person or entity Person by purchase, operation of law or otherwise. Mortgagee Lender 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 MortgageeLender’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 MortgageeLender’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 discretionconsent, 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 MortgagorBorrower, Fee Owner, Ground Lessor or in any other person or entity Person 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 Note 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.

No Merger of Fee and Leasehold Estates; Releases. So long as any portion of the Debt shall remain unpaid, unless Mortgagee Lender shall otherwise consent in writing, which consent may be given or withheld in Mortgagee’s sole and absolute discretionconsent, 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 MortgagorHoldco, Fee OwnerTenantco, or in any other person or entity Person by purchase, operation of law or otherwise. Mortgagee Lender 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 MortgageeLender’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 MortgageeLender’s rights in connection with the portion of the Property not so released.