Release by Mortgagee. Upon the termination of the Commitments under and as defined in the Loan 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. Upon any transfer by Mortgagor of title to all or any portion of the Mortgage Estate, which transfer is not prohibited by the Loan Documents, the Mortgagee shall, upon the request of the Mortgagor, execute and deliver a release (in recordable form) of the transferred property from the Lien of this Mortgage. If all of the Mortgage Estate is so transferred, the Mortgagee shall completely release and discharge this Mortgage.
Appears in 4 contracts
Samples: Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.)
