Release of Deed of Trust. If all of the Debt shall be paid, then and in that event only, all rights under this Deed of Trust, except for those provisions hereof which by their terms survive, shall terminate and the Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby, which shall be promptly released of record by Lender in due form at Borrower’s cost. No release of this Deed of Trust or the lien hereof shall be valid unless executed by Lender.
Release of Deed of Trust. If all of the Secured Indebtedness be paid as the same becomes due and payable and all of the covenants, warranties, undertakings and agreements made in this Amended and Restated Deed of Trust are kept and performed, and all other obligations, if any, of Holder for further advances have been terminated, then, and in that event only, all rights under this Amended and Restated Deed of Trust shall terminate (except to the extent expressly provided herein with respect to indemnifications, representations and warranties and other rights which are to continue following the release hereof) and the Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby, and such liens and security interests shall be released by Holder in due form at Grantor's cost. Without limitation, all provisions herein for indemnity of Holder or Trustee shall survive discharge of the Secured Indebtedness, and any foreclosure, release or termination of this Amended and Restated Deed of Trust.
Release of Deed of Trust. Beneficiary agrees to promptly and unconditionally release this Deed of Trust as follows:
a. in the event of a bona fide sale (other than a "sale leaseback" or other similar financing transaction) of the Trust Property to a third party that is not affiliated with Grantor, provided that the following conditions are satisfied: (i) neither Grantor nor any of its respective affiliates continue to use or occupy the Trust Property or any part thereof; (ii) Grantor shall consult with Beneficiary prior to such sale and shall obtain Beneficiary's prior written consent with respect to such sale and the sales price (such consent not to be unreasonably withheld); and (iii) all of the proceeds of such sale are applied towards repayment of the Obligations, notwithstanding the fact that the Obligations, or a portion thereof, may not then be due and payable.
b. in the event that Beneficiary is paid in full for all amounts owing to Beneficiary by Grantor and any of its former affiliated debtors, including the indefeasible payment in full of the Obligations, and no amount is then owing by one or more of the foregoing to Beneficiary pursuant to the Indenture, the Notes or any other Relevant Documents.
Release of Deed of Trust. If all of the Obligations shall be paid, performed and discharged and the Credit Agreement is terminated, Beneficiary shall forthwith cause satisfaction and discharge of this Deed of Trust to be entered upon the record, at the sole cost and expense of Trustor, and shall execute and deliver (or cause to be executed and delivered) such instruments of satisfaction and discharge as may be appropriate, such instruments to be duly acknowledged and in form for recording, at the sole cost and expense of Trustor.
Release of Deed of Trust. Beneficiary agrees to promptly and unconditionally release this Deed of Trust (subject to the provisions set forth in Section 6(b)) as follows:
(a) in the event of a bona fide sale (other than a "sale leaseback" or other similar financing transaction) of the Trust Property to a third party that is not affiliated with Grantor, provided that each of the following conditions is satisfied: (i) neither Grantor nor any of its respective affiliates continue to use or occupy the Trust Property or any part thereof; (ii) Grantor shall consult with Beneficiary prior to such sale and shall obtain Beneficiary's prior written consent with respect to such sale and the sales price (such consent not to be unreasonably withheld); and (iii) all of the proceeds of such sale are applied towards repayment of the Obligations or otherwise applied in compliance with the provisions of Section 6(b) hereof.
(b) in the event that Beneficiary is paid in full for all amounts owing (or which shall or may become owing under the Relevant Documents) to Beneficiary by Grantor and any of its former affiliated debtors, including the indefeasible payment and satisfaction in full of the Obligations.
(c) on December 31, 2014 (or on such earlier date as permitted under and pursuant to the provisions of Section 6(b) hereof); provided, however, that if on such date, any amount secured by this Deed of Trust has not been indefeasibly paid in full, then this Deed of Trust shall be deemed amended to extend the term hereof until such obligations are so paid.
Release of Deed of Trust. If any holder of a leasehold deed of trust shall acquire title to Tenant’s interest in this Lease, by foreclosure of a deed of trust thereon or by assignment in lieu of foreclosure or by an assignment from a nominee or wholly owned subsidiary corporation of such holder, or under a new lease pursuant to this Article, such holder may assign such lease and shall thereupon be released from all liability for the performance or observance of the covenants and conditions in such lease contained on Tenant’s part to be performed and observed from and after the date of such assignment, provided that the assignee from such deeds of trust shall have assumed this Lease and agreed to perform and observe the covenants and conditions in this Lease contained on Tenant’s part to be performed and observed.
Release of Deed of Trust. If all of the Obligations be paid and performed, then and in that event only, upon Bxxxxxxx’s written request, Lxxxxx shall promptly execute and deliver to Borrower a written satisfaction of the Deed of Trust, and upon the recordation thereof, all rights under this Deed of Trust shall terminate except for those provisions hereof which by their terms survive, and the Property shall become wholly clear of the liens, security interests, conveyances and assignments evidenced hereby, which shall be released by Lender in due form at Borrower’s cost. No release of this Deed of Trust or the lien hereof shall be valid unless executed by Lxxxxx.
Release of Deed of Trust. If all of the Obligations are paid when due and all of Grantor's covenants and agreements under this Deed of Trust and the Note are performed in full, then these presents shall be void and this Deed of Trust shall be released at the cost of Grantor.
Release of Deed of Trust. If all of the Obligations shall be paid, performed and discharged and the Indenture (and the commitments thereunder) is terminated, Beneficiary shall forthwith cause satisfaction and discharge of this Deed of Trust to be entered upon the record, and shall execute and deliver (or cause to be executed and delivered) such instruments of satisfaction and discharge as may be appropriate, such instruments to be duly acknowledged and in form for recording. Trustor shall pay the reasonable out-of-pocket costs incurred by Beneficiary in discharging, releasing and/or terminating this Deed of Trust and any other instruments related hereto, including, but not limited to, any financing statements.
Release of Deed of Trust. In addition to the partial releases required pursuant to Section 1.5 hereof, if Mortgagor has satisfied its obligations under Article II of the Development Agreement, the lien created by this Deed of Trust shall automatically terminate and upon request by Mortgagor, Mortgagee shall promptly cause satisfaction, discharge and release of this Deed of Trust to be entered upon the record at the expense of Mortgagor and shall execute and deliver or cause to be executed and delivered such instruments of satisfaction, reassignment and/or release as may be appropriate.
