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 Administrative Agent 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 Borrower, 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, but not limited to, 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 hereunder or under the Note or the other 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 Debt Obligations shall remain unpaid, unless Administrative Agent shall otherwise consent, the fee title to that portion of the applicable Individual Mortgaged Property subject to the Qualified Ground Lease and the leasehold estate therein created pursuant to the provisions of the Qualified Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrowerthe applicable Credit Party, Administrative Agent, or in any other Person person by purchase, operation of law or otherwise. Administrative Agent reserves the right, at any time, to release portions of the such Individual Mortgaged Property, including, but not limited to, the leasehold estate created by the Qualified Ground Lease, with or without consideration, at Administrative Agent’s election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents Credit Documents, and any such release shall not affect Administrative Agent’s rights in connection with the portion of the applicable Individual 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 Administrative Agent 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 Borrowerany 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, but not limited to, 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 hereunder or under the Note or the other 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 Debt shall remain unpaid, unless Administrative Agent 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 Borrower, 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, but not limited to, 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 hereunder or under the Note or the other 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 Debt Obligations shall remain unpaid, unless Administrative Agent shall otherwise consent, the fee title to that portion of the applicable Individual Mortgaged Property subject to the Qualified Ground Lease and the leasehold estate therein created pursuant to the provisions of the Qualified Ground Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Borrowerthe applicable Credit Party, Administrative Agent, or in any other Person person by purchase, operation of law or otherwise. Administrative Agent reserves the right, at any time, to release portions of the such Individual Mortgaged Property, including, but not limited to, the leasehold estate created by the Qualified Ground Lease, with or without consideration, at Administrative Agent’s election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents Credit Documents, and any such release shall not affect Administrative Agent’s rights in connection with the portion of the applicable Individual Mortgaged Property not so released.. 100