Release of Project Sample Clauses

Release of Project. Borrower may obtain the release of one or more of the Projects from the lien of the applicable Mortgage and related Loan Documents (each a “Release,” and “Released” shall have the meaning correlative thereto) in connection with a prepayment permitted under, and made in accordance with, Section 15.01(b), provided that, in each instance, each of the following conditions shall be satisfied:
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Release of Project. The Lessee hereby reserves the right and the Lessor hereby agrees, at any time and from time to time, to amend this Lease to effect the release of and removal from this Lease and the leasehold estate created hereby of any part of or interest in the Project and the conveyance or transfer for Fair Market Value of such part or interest to the Lessee or one of its subsidiaries or to a grantee so long as that grantee is approved by the Lessee and the Lessor which approval shall not be unreasonably withheld or delayed; provided, that such amendment shall not be effective until and unless there are deposited with the Lessor the following:
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Release of Project. Provided that no Potential Default, Event of Default or Borrowing Base Imbalance has occurred and is continuing (or would occur or exist as a result of or following a proposed Project Release), Borrower shall have the right, subject to the provisions of this Section 2.9 and Section 2.12(5) hereof, to obtain a release of a Project from the Lien of the Mortgage Documents relating thereto (a "Project Release"). In the event Borrower seeks to obtain a Project Release, the Administrative Agent shall release such Project (the "Released Project") from the Lien of the Mortgage Documents relating thereto, but only upon satisfaction of all of the following conditions:
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Release of Project. At Borrower’s option upon notice to Administrative Agent, without the consent or approval of Administrative Agent, the Lenders or any other Person, the Collateral corresponding to either Project will be released, the Guaranties corresponding to such Project shall terminate, and the financing continue in reliance on the single remaining Project, provided that (a) the projected Debt Service Coverage Ratio after giving effect to such Project release shall be a minimum of 1.60x and an average of 1.70x through December 31, 2027 (as demonstrated in the updated Base Case Project Projections delivered to the Administrative Agent at least 15 Banking Days prior to the proposed release date, which Base Case Project Projections shall be in form and substance reasonably satisfactory to Administrative Agent (acting in consultation with the Independent Engineer)); (b) concurrent with such release, there shall be no LC Loans outstanding and no Event of Default shall have occurred and be continuing, and (c) concurrent with such release, the Term Loan, together with any related Hedge Breaking Fees (provided that Borrower may allow to remain outstanding only Hedge Transactions whose notional amount as of the date of such release do not exceed the Loans outstanding after giving effect to the prepayments contemplated by this clause (c)), will be prepaid such that the Term Loan balance on the Maturity Date will be no more than 45% of the projected Term Loan balance at the Maturity Date in the Base Case Project Projections delivered pursuant to Section 3.1.16. If the Purchase Option or Put Option is exercised, the proceeds, in an amount equal to the lesser of (i) all of such proceeds, and (ii) such amount as shall result in satisfaction of the criteria set forth in clauses (a), (b) and (c) above, shall be applied to prepay, first, the LC Loans and, second, the Term Loans together with any related Hedge Breaking Fees (provided that Borrower may allow to remain outstanding only Hedge Transactions whose notional amount as of the date of such release do not exceed the Loans outstanding after giving effect to the prepayments contemplated by clause (c) above). Upon exercise of either such option, and only if Borrower shall have complied with clauses (a), (b) and (c) above, the Collateral will be released. Any proceeds from an exercise of the Put Option or Purchase Option, in excess of the amounts required to be applied to a prepayment of the Loans and Hedge Breaking Fees to the levels...
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Release of Project. Landlord and Tenant shall also have the privilege from time to time to amend this Lease Agreement to effect the release and removal from this Lease Agreement and the leasehold estate of any part of or interest in the Project, and the conveyance or transfer of such part or interest, if (a) such part or interest has been the subject of a substitution pursuant this Section or (b) without substitution therefor; provided that Tenant shall pay (i) so long as any of the Bonds remain outstanding, to the Trustee for deposit in the Collateral Proceeds Account or (b) if no Bonds remain outstanding, to Director for application to the prepayment of the State Loan Note and the LDI Loan Note in accordance with their respective terms, a sum equal to the then value of the part of or interest in Project removed without substitution, as determined by an Independent Engineer selected by Tenant, and shall deliver to Landlord, the Director and the Trustee a certificate signed by said Independent Engineer setting forth the value of the portion of the Project removed and stating that the removal of thereof will not make the Project unsuitable for the Project Purposes; and provided further, that, if at the time any such amendment is made any Project Debt remains outstanding, the amendment shall not be effective until and unless there are deposited with the Director and, if any of the Bonds remain outstanding, the Trustee, the following:
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Release of Project. From time to time a Co-Borrower may request, upon not less than ten (10) days prior written notice to the Lender, that its Project be released from the Liens created by the Security Documents applicable thereto, which release (hereinafter referred to as a “Project Release”) shall be effected by the Lender if the Lender reasonably determines all of the following conditions precedent are satisfied as of the date of such Project Release:
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Related to Release of Project

  • Release of Property Except as set forth in this Section 2.6, no repayment, prepayment or defeasance of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property.

  • Release of Properties From time to time the Borrower may request, upon not less than 10 days prior written notice to the Administrative Agent (or such shorter period as may be acceptable to the Administrative Agent in its sole discretion), that a Borrowing Base Asset be no longer considered a Borrowing Base Asset, which release (a “Property Release”) shall be effected by the Administrative Agent if the Administrative Agent determines all of the following conditions are satisfied as of the date of such Property Release:

  • Lease of Property Landlord, for and in consideration of the covenants and agreements herein contained on the part of Tenant to be paid, kept, observed, and performed, hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term (as hereinafter defined), the Property. Tenant’s use of the Property shall be in compliance with the terms of this Lease.

  • Release of Individual Property Concurrently with the release of an Individual Property from the Lien of the Mortgage (and related Mortgage Loan Documents) pursuant to Section 2.5.1 of the Mortgage Loan Agreement (a “Release” and such Individual Property, a “Release Property”), Borrower may obtain the release of the related Individual Borrower with an indirect ownership interest in such Individual Property (a “Release Borrower”) and such Release Borrower’s obligations under the Loan Documents with respect to the Release Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions:

  • Use of Project Issuer does hereby covenant and agree that it will not take any action during the term of this Agreement, other than pursuant to Article IX of this Agreement or Article IX of the Indenture, to interfere with Company's ownership of the Project or to prevent Company from having possession, custody, use and enjoyment of the Project.

  • Lease of Property For Lease Term Landlord leases the Property to Tenant and Tenant leases the Property from Landlord for the Lease Term. The Lease Term is for the period stated in Section 1.05 above and shall begin and end on the dates specified in Section 1.05 above, unless the beginning or end of the Lease Term is changed under any provision of this Lease. The "Commencement Date" shall be the date specified in Section 1.05 above for the beginning of the Lease Term, unless advanced or delayed under any provision of this Lease.

  • Purchase of Property On the Closing Date, and subject to the terms and conditions of this Agreement, each Seller shall sell, assign, convey, transfer and deliver to Purchaser, and Purchaser shall purchase and acquire from each Seller, all of such Seller’s right, title and interest in and to the Property, or Properties, owned by such Seller, free and clear of Liens and Encumbrances that are not Permitted Exceptions, at the purchase price provided in Section 2.2 hereof. Purchaser hereby acknowledges and agrees that this Agreement is for the purchase and sale of all of the Properties and that under no circumstances shall Purchaser purchase fewer than all of the Properties, except as expressly set forth in Sections 4.2.2, 9.2 and 12.13 herein.

  • Release of Landlord If, during the term of this Lease, Landlord shall sell its interest in the Building or Complex of which the Leased Premises form a part, or the Leased Premises, then from and after the effective date of the sale or conveyance, Landlord shall be released and discharged from any and all obligations and responsibilities under this Lease, except those already accrued.

  • Maintenance of Properties and Leases Each Loan Party shall, and shall cause each of its Subsidiaries to, maintain in good repair, working order and condition (ordinary wear and tear excepted) in accordance with the general practice of other businesses of similar character and size, all of those properties useful or necessary to its business, and from time to time, such Loan Party will make or cause to be made all appropriate repairs, renewals or replacements thereof.

  • Lease of Premises Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the Premises for the Term and upon the terms, covenants and conditions provided in this Lease.

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