Release of Borrowing Base Assets. Provided no Default or Event of Default shall have occurred hereunder and be continuing (or would exist immediately after giving effect to the transactions contemplated by this §5.4 other than an Event of Default that would be cured by effectuating such release as provided in §12.2(b)), the Agent shall release a Borrowing Base Asset from the lien or security title of the Security Documents encumbering the same upon the request of the Borrower subject to and upon the following terms and conditions:
Appears in 3 contracts
Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)
Release of Borrowing Base Assets. Provided no Default or Event of Default shall have occurred hereunder and be continuing (or would exist immediately after giving effect to the transactions contemplated by this §5.4 other than an Event of Default that would be cured by effectuating such release as provided in §12.2(b)5.4), the Agent shall release a Mortgaged Property or Borrowing Base Asset Loan from the lien or security title of the Security Documents encumbering the same upon the request of the Borrower in connection with a sale or other permanent disposition or refinancing of such Borrowing Base Asset or pursuant to §12.2(b) subject to and upon the following terms and conditions:
Appears in 1 contract
Samples: Credit Agreement (NorthStar Healthcare Income, Inc.)
