Common use of Reconveyance of Deed of Trust and Termination of Assignments and Financing Statements Clause in Contracts

Reconveyance of Deed of Trust and Termination of Assignments and Financing Statements. If and when Grantor has paid and performed all of the Obligations, and no further advances are to be made under the Loan Agreement, and all Swap Contracts have been terminated, Trustee, upon request by Beneficiary, will provide a reconveyance of the Property from the lien of this Deed of Trust and termination statements for filed financing statements, if any, to Grantor. Grantor shall be responsible for the recordation of such reconveyance and the payment of any recording and filing costs. Upon the recording of such reconveyance and the filing of such termination statements, the absolute assignments set forth in Section 2.2 shall automatically terminate and become null and void. Partial reconveyances of the Property from the lien of this Deed of Trust shall be made on the terms and subject to the conditions of the Loan Agreement. No partial reconveyance shall be sought, requested or required if any Event of Default has occurred which has not been cured.

Reconveyance of Deed of Trust and Termination of Assignments and Financing Statements. If and when Grantor has paid and performed all of the Obligations, and no further advances are to be made under the Loan Agreement, and all Swap Contracts have been terminated, Trustee, upon request by Beneficiary, will provide a reconveyance release of the Property from the lien of this Deed of Trust and termination statements for filed financing statements, if any, to Grantor. Grantor shall be responsible for the recordation of such reconveyance release and the payment of any recording and filing costs. Upon the recording of such reconveyance release and the filing of such termination statements, the absolute assignments set forth in Section 2.2 shall automatically terminate and become null and void. Partial reconveyances releases of the Property from the lien of this Deed of Trust shall be made on the terms and subject to the conditions of the Loan Agreement. No partial reconveyance release shall be sought, requested or required if any Event of Default has occurred which has not been cured.

Reconveyance of Deed of Trust and Termination of Assignments and Financing Statements. If and when Grantor has paid and performed all of the Obligations, and no further advances are to be made under the Loan Agreement, Agreement and all Swap Contracts have been terminated, Trustee, upon request by Beneficiary, will provide a reconveyance release of the Property from the lien of this Deed of Trust and termination statements for filed financing statements, if any, to Grantor. Grantor shall be responsible for the recordation of such reconveyance release and the payment of any recording and filing costs. Upon the recording of such reconveyance release and the filing of such termination statements, the absolute assignments set forth in Section 2.2 shall automatically terminate and become null and void. Partial reconveyances releases of the Property from the lien of this Deed of Trust shall be made on the terms and subject to the conditions of the Loan Agreement. No partial reconveyance release shall be sought, requested or required if any Event of Default has occurred which has not been cured.