Common use of Property Release Privilege Clause in Contracts

Property Release Privilege. Provided no Event of Default exists, Borrower shall be allowed, subsequent to the Lockout Period (as that term is defined in the Note), to partially prepay the Loan, upon thirty (30) days prior written notice to Lender (“Release Request”), and to thereby obtain a partial release of the Mortgage and Second Mortgage (and ancillary Security Instruments) for any Subgroup (as designated below) of parcel(s) of Property securing the Loan and the Second Mortgage securing the Affiliate Loans (the “Release Privilege”) subject to the following conditions:

Property Release Privilege. Provided no Event of Default (as hereinafter defined) exists, Borrower Borrowers shall be allowed, subsequent to the Lockout Period (as that term is defined in the Note), allowed to partially prepay the Loan, upon thirty (30) days prior written notice to Lender (“Release Request”), and to thereby obtain a partial release of the Mortgage and Second Mortgage (and ancillary Security Instruments) for of any Subgroup (as designated below) of parcel(s) parcel of Property securing the Loan and the Second Mortgage securing the Affiliate Loans (the “Release Privilege”) subject to the following conditions:

Property Release Privilege. Provided no Event of Default (as hereinafter defined) exists, Borrower shall be allowed, subsequent to the Lockout Period (as that term is defined in the Note), to partially prepay the Loan, upon thirty (30) days prior written notice to Lender (“Release Request”), and to thereby obtain a partial release of the Mortgage and Second Mortgage (and ancillary Security Instruments) for of any Subgroup (as designated below) of parcel(s) parcel of Property securing the Loan and the Second Mortgage securing the Affiliate Loans (the “Release Privilege”) subject to the following conditions:

Property Release Privilege. Provided no Event of Default exists, and no event of default exists under the terms of the Loan or the Affiliate Loan, Borrower shall be allowed, subsequent to the Lockout Period for the Loan (as that term is defined in the Note), to partially prepay the Loan, upon not less than thirty (30) days prior written notice to Lender (the “Release Request”), and to thereby obtain a partial release of the Mortgage and Second Mortgage (and ancillary Security Instruments) for any Subgroup (as designated below) of parcel(s) of Instruments with respect to the Property securing the Loan and the Second Mortgage securing the Affiliate Loans (the “Release Privilege”) subject to the following conditions:

Property Release Privilege. Provided no Event of Default (as hereinafter defined) exists, Borrower shall be allowed, subsequent to the Lockout Period in Note A and Note B (as that term is those terms are defined in the NoteNote A and Note B, respectively), to partially prepay the Loan, upon thirty (30) days prior written notice to Lender (“"Release Request”"), and to thereby obtain a partial release of the Mortgage and Second Mortgage (and ancillary Security Instruments) for of any Subgroup (as designated below) of parcel(s) parcel of Property securing the Loan and the Second Mortgage securing the Affiliate Loans (the “"Release Privilege”") subject to the following conditions: