Release of Projects Sample Clauses

Release of Projects. Except as set forth in this Section 2.09, or unless the Obligations have been paid in full, the Borrower shall have no right to obtain the release of any Project from the Lien of the Loan Documents, and no repayment or prepayment of any portion of the Loans shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Deed of Trust on any Project or any other collateral securing the Loans. Any release upon payment of the Obligations in full shall be in accordance with the provisions of the Deeds of Trust governing releases.
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Release of Projects. At any time following the Closing Date a Borrower on one or more occasions may obtain, and the Administrative Agent shall take such actions as are necessary to effectuate pursuant to this Section 2.09(a), the release of the entirety of any Project owned by it from the Lien of the applicable Deed of Trust (and related Loan Documents) thereon and the release of the Borrower’s obligations under the Loan Documents with respect to such Project (other than those which expressly survive repayment, including, but not limited to, those set forth in the Environmental Indemnity), upon satisfaction of each of the following conditions: (i) The Borrower shall submit to the Administrative Agent (on behalf of the Lenders), by 3:00 P.M., New York City time, at least ten (10) days prior to the date of the proposed release, written notice of its election to obtain such release (which notice shall include a certification by an Authorized Officer of the Borrower that the proposed release complies with all of the conditions set forth in this Section 2.09(a)), together with the form or forms for a release of Lien and related Loan Documents (or, in the case of a Deed of Trust, a request for reconveyance) for such Project for execution by the Administrative Agent, which the Administrative Agent shall execute and deliver to the Borrower for recordation upon satisfaction of all conditions set forth in this Section 2.09(a). Such release shall be in a form appropriate in each jurisdiction in which the applicable Project is located and reasonably satisfactory to the Administrative Agent and its counsel. Any notice of a proposed release of a Project pursuant to this Section 2.09(a) may be revoked (or the date proposed for such release may be postponed) by a further written notice (which may be delivered by the Borrower by facsimile to the Administrative Agent). Any notice revoking a proposed release (or postponing the date for a proposed release) shall be delivered not less than one (1) Business Day prior to the date of such release specified in the notice of release; provided, however, in the event that the Borrower revokes or postpones such notice during the last three (3) Business Days of the Interest Period for any Eurodollar Loan, and provided that the Borrower has not elected to Convert such Eurodollar Loan into a Base Rate Loan pursuant to Section 2.05, the Borrower acknowledges that the losses, costs and expenses for which the Borrower shall be responsible under Section 5.05(b) ...
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Release of Projects. Borrowers may obtain the release of any Project or Projects (each a "RELEASED PROJECT") provided that each of the following conditions in Sections 2.2.1 and 2.2.3, as to Pool A Projects, or Sections 2.2.2 and 2.2.3, as to Pool B Projects, has been satisfied to Agent's reasonable approval:
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Release of Projects. Provided there is no Event of Default hereunder or under any Loan, any of the Projects may be released as security for this Loan Agreement upon: (i) not less than thirty (30) days prior written notice to Lender; (ii) payment of the portion of the Outstanding Facility Amount secured by the Project being released (without regard being given to cross-collateralization) so that the DSCR and LTVR tests are met for the remaining Outstanding Facility Amount; (iii) payment of the Exit Fee, if any; (iv) payment of the Prepayment Fee, if any; and (v) payment of all costs and expenses of Lender incurred in documenting the release, including reasonable legal, title and recording costs. Provided the maintenance tests set forth in Section 5.1(a)(i) and Section 5.1(b)(i) are met for the Outstanding Facility Amount, Lender shall release a Project from the security for this Loan Agreement and the lien and security interest of any Facility Loan Document relating to such Project, upon Borrower"s payment of the outstanding principal balance of the Loan secured by such Project, without regard given to cross-collateralization, together with all interest thereon, the Exit Fee, if any, and the Prepayment Fee, if any.
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Release of Projects. Upon the written request of Borrowers, Agent shall release a Project from the lien of the Loan Documents provided: (a) Borrowers shall make a payment to Agent ("Release Payment"), which Release Payment shall be used by Agent towards the repayment of the Loan, equal to the lesser of (i) 120% of the amount of the Loan initially allocated by Agent to such Project at the time of the Advance in respect of such Project or (ii) the remaining outstanding balance of the Loan plus accrued and unpaid interest thereon plus all other amounts then outstanding under this Agreement and the other Loan Documents; (b) The Adjusted Net Operating Income with respect to the remaining Projects is greater than 19.23% of the remaining outstanding balance of the Loan; (c) The Projected Debt Service Coverage Ratio with request to the remaining Projects must be greater than 1.5; (d) The Project Yield with respect to the remaining Projects is greater than (i) the Project Yield of all Projects (including the Project(s) to be released) immediately prior to the release and (ii) the Project Yield at the time of the initial Advance; and (e) (i) No Event of Default then exists, (ii) no monetary Event of Default shall have occurred at any time during the preceding Term of the Loan, and (iii) there has not been a non-monetary Event of Default at any time during the preceding Term of the Loan which remained uncured for more than ninety (90) days, unless any of the aforementioned Events of Default shall be cured by the release of such Project.
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Release of Projects. Except as set forth in this Section 3.9, no repayment or prepayment of all or any portion of the Notes shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of any Mortgage on any Project or other collateral securing the Loans.
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Release of Projects. Any of the Projects may be released as security for this Agreement upon: (i) not less than thirty days prior written notice to Lender; (ii) payment of the portion of the Outstanding Facility Amount secured by the Project being released (without regard being given to cross-collateralization) so that the Debt Service Coverage/Outstanding Facility Amount and Loan to Value Ratio tests are met for the remaining Projects securing this Agreement; (iii) payment of the Exit Fee; and (iv) payment of all costs and expenses of Lender incurred in documenting the release, including reasonable legal, title and recording costs.
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Release of Projects. (i) Section 3.9.1(f)(iii) is hereby amended to read in its entirety as follows:
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Release of Projects 
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Related to Release of Projects

  • Release of Property Except as set forth in this Section 2.6, no repayment or prepayment 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.

  • 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.

  • Scope of Project i. The work to be per formed under the terms of this Agreement for the Rapid City Metropolitan Transportation Planning Process will be conducted in accordance with the CY 2019 Unified Planning Work Program incorporated in this Agreement by reference as Attachment D. ii. The Sub-Recipient’s Responsibilities:

  • 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.

  • Purchase of Property With any cash at any time held by it, to purchase or subscribe for any Authorized Investment (as defined in Section 6.3) and to retain the same in trust.

  • Existence; Maintenance of Properties The Obligors will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as corporations under the jurisdiction of their incorporation. The Obligors will do or cause to be done all things necessary to preserve and keep in full force all of its rights and franchises and those of their Subsidiaries, except for the Inactive Subsidiaries. The Obligors, except with respect to the Inactive Subsidiaries (i) will cause all of its properties and those of their Subsidiaries used or useful in the conduct of its business or the business of their Subsidiaries to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment, (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Obligors may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (iii) except as provided below, will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in related businesses. The Obligors (i) shall not make any loans or advances to, or transfer any assets to, any Inactive Subsidiary, nor allow any Inactive Subsidiary to engage in any business activity, other than such activity which may be required in connection with the dissolution and/or deregistration of such Inactive Subsidiary, and (ii) shall dissolve all Inactive Subsidiaries, which are Domestic Subsidiaries, on or before ninety (90) days from the date hereof, and shall endeavor in good faith and use its reasonable efforts to dissolve or deregister all Inactive Subsidiaries, which are not Domestic Subsidiaries as soon as possible, but in no event, not later than one (1) year from the date hereof. In the event that any Inactive Subsidiary has not been dissolved or deregistered in accordance with the provisions of the preceding sentence, the parent of such Inactive Subsidiary shall execute and deliver to the Agent, within thirty (30) days of the Agent's request, a stock pledge, in form and substance reasonably satisfactory to the Agent, to pledge the stock of such Inactive Subsidiary to the Agent for the ratable benefit of the Lenders and such other documents, instruments and agreements which the Agent may reasonably require in connection therewith.

  • 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.

  • Contracts Concerning Use of Project The Recipient agrees that during the Agreement Term it will not contract with any Private Person for use of the Project or any portion thereof or the facility or facilities of which the Project is a part for any Private Business Use unless all of the conditions of subparagraph F.3.a., subparagraph F.3.b. or subparagraph F.3.c. are met: a. If the compensation of the Private Person is based entirely on a periodic, fixed fee that contains no incentive adjustments, all of the following conditions must be met: (A) no amount of compensation is based on a share of the net profits; (B) the compensation is reasonable; (C) the term of the contract does not exceed five (5) years (including any renewal option periods provided for in the contract);

  • Use of Property The Property as defined herein shall be for the sole and exclusive use and occupation by the Tenant(s) and same’s exclusive family namely:

  • Nature and Purpose of Processing The Parties will Process Shared Personal Data only as necessary to perform under and pursuant to the Applicable Agreements, and subject to this Data Processing Addendum, including as further instructed by Data Subjects.

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