Common use of Release by Mortgagee Clause in Contracts

Release by Mortgagee. Upon the termination of the Commitments under and as defined in the Credit Agreement and the payment in full of the Obligations, the Mortgagee shall release the Lien of this Mortgage, or upon the request of the Mortgagor, and at the Mortgagor’s expense, assign this Mortgage without recourse to the Mortgagor’s designee, or to the person or persons legally entitled thereto, by an instrument duly acknowledged in form for recording.

Release by Mortgagee. Upon the termination of the Commitments under and as defined in the Credit Loan Agreement and the payment in full of the Obligations, the Mortgagee shall release the Lien lien of this Mortgage, or upon the request of the Mortgagor, and at the Mortgagorand, provided that Mortgagor shall pay Mortgagee’s expensereasonable expenses, assign assign, without recourse, representation or warranty of any kind, this Mortgage without recourse to the Mortgagor’s designee, or to the person or persons legally entitled thereto, by an instrument duly acknowledged in form for recording.

Release by Mortgagee. Upon the termination of the Commitments under and as defined in the Credit Restructuring Agreement and the payment in full of the Obligations, the Mortgagee shall release the Lien lien of this Mortgage, or upon the request of the Mortgagor, and at the Mortgagor’s expense, assign this Mortgage without recourse to the Mortgagor’s designee, or to the person or persons legally entitled thereto, by an instrument duly acknowledged in form for recording.