Common use of Release of Properties, etc Clause in Contracts

Release of Properties, etc. If the Lessee shall at any time purchase any Property (or Lessor's leasehold interest in such Property under any Head Lease) pursuant to the Lease, or the Construction Agent shall purchase any Property (or Lessor's leasehold interest in such Property under any Head Lease) pursuant to the Agency Agreement, or if any Property (or Lessor's leasehold interest in such Property under any Head Lease) shall be sold in accordance with Article XXII of the Lease, then, upon satisfaction by the Owner Trustee of its obligation to prepay the Loans, Holder Advances and all other amounts owing to the Bank under the Operative Agreements, the Bank shall release such Properties (or Lessor's leasehold interests in such Properties under any Head Leases) from the Liens created by the Security Documents to the extent of its interest therein. In addition, upon the termination of the Commitments and the Holder Commitments and the payment in full of the Loans, the Holder Advances and all other amounts owing by the Owner Trustee and the Lessee hereunder or under any other Operative Agreement, the Bank shall release all of the Properties (or Lessor's leasehold interests in such Properties under any Head Leases) from the Liens created by the Security Documents to the extent of its interest therein. Upon request of the Owner Trustee following any such release, the Bank shall, at the sole cost and expense of the Lessee, execute and deliver to the Owner Trustee and the Lessee such documents as the Owner Trustee or the Lessee shall reasonably request to evidence such release.

Release of Properties, etc. (a) If the Lessee shall at any time purchase any Property (or Lessor's leasehold interest in such Property under any Head Lease) pursuant to Article XV of the Master Lease, or the Construction Agent shall purchase exercise its Purchase Option with respect to any Property (or Lessor's leasehold interest in such Property under any Head Article XVIII of the Master Lease) pursuant to the Agency Agreement, or if any Property (or Lessor's leasehold interest in such Property under any Head Lease) all of the Properties shall be sold in accordance with Article XXII and the Lessee otherwise satisfies each of the obligations and conditions set forth at Article XX of the Master Lease, then, upon satisfaction by the Owner Trustee application of its obligation such amounts to prepay the Loans, Holder Advances Loans pursuant to Article IV and the Agent's and the Lenders' receipt of all accrued interest and any other amounts payments due and owing from Lessee and/or the Lessor to the Bank under Agent and the Operative AgreementsLenders on such date, including without limitation pursuant to Article XIII of the Bank Participation Agreement, such Property shall release such Properties (or Lessor's leasehold interests in such Properties under any Head Leases) be released from the Liens Lien in favor of the Lenders created by the Security Documents Assignment of Lease and Rent, to the extent relating to such Property, all without delivery of its interest therein. In addition, upon any instrument or performance of any act by any party. (b) Upon the termination of the Commitments and the Holder Lenders' Commitments and the payment in full of the Loans, the Holder Advances Loans and all other amounts owing by the Owner Trustee and the Lessee Lessor hereunder or under any other Operative AgreementLoan Document, the Bank Properties shall release all be released from the Lien in favor of the Properties (or Lessor's leasehold interests in such Properties under any Head Leases) from the Liens Lenders created by the Security Documents Assignment of Lease and Rent, to the extent relating to such Property, without delivery of its interest thereinany instrument or performance of any act by any party. Loan Agreement (c) Upon request of the Owner Trustee Lessor following a release of any such releaseProperty described in clause (a) or (b) above, the Bank Agent shall, at the sole cost and expense of the LesseeLessor, execute and deliver to the Owner Trustee and Lessor or the Lessee such documents as the Owner Trustee or the Lessee Lessor shall reasonably request to evidence such release, including, if requested, a release of Assignment of Lease and Rent to the extent relating to such Property.

Release of Properties, etc. (a) If the Lessee shall at any time purchase any Property (pursuant to Article XV of the Master Lease or Lessor's leasehold interest in such exercise its Purchase Option with respect to any Property under any Head Lease) pursuant to Article XVIII of the Master Lease, or if all of the Construction Agent shall purchase any Property (or Lessor's leasehold interest in such Property under any Head Lease) pursuant to the Agency Agreement, or if any Property (or Lessor's leasehold interest in such Property under any Head Lease) Properties shall be sold in accordance with Article XXII and the Lessee otherwise satisfies each of the obligations and conditions set forth at Article XX of the Master Lease, then, upon satisfaction by the Owner Trustee application of its obligation such amounts to prepay the Loans, Holder Advances Loans pursuant to Article V and the Agent's and the Lenders' receipt of all accrued interest and any other amounts payments due and owing from Lessee to the Bank under Agent and the Operative AgreementsLenders on such date, including without limitation pursuant to Article XIII of the Bank Participation Agreement, such Property shall release such Properties be released from (or Lessor's leasehold interests in such Properties under any Head Leasesi) from the Liens in favor of the Participation Agent created by the Security Documents Lender Deed of Trust relating to such Property and (ii) the Liens in favor of the Participation Agent created by the Assignment of Leases and Rents, in each case to the extent relating to such Property, all without delivery of its interest therein. In addition, upon any instrument or performance of any act by any party. (b) Upon the termination of the Commitments and the Holder Lenders' Commitments and the payment in full of the Loans, the Holder Advances Loans and all other amounts owing by the Owner Trustee and the Lessee Lessor hereunder or under any other Operative AgreementLoan Document, the Bank Properties shall release all be released from (i) the Liens in favor of the Properties (or Lessor's leasehold interests in such Properties under any Head Leases) from the Liens Participation Agent created by the Security Documents Lender Deed of Trust relating to such Property and (ii) the Liens in favor of the Participation Agent created by the Assignment of Leases and Rents, in each case to the extent relating to such Property, all without delivery of its interest therein. any instrument or performance of any act by any party. (c) Upon request of the Owner Trustee Lessor following a release of any such releaseProperty described in clause (a) or (b) above, the Bank shallTranche A Lenders and the Tranche B Lenders shall instruct the Participation Agent, at the sole cost and expense of the LesseeLessor, to execute and deliver to the Owner Trustee and Lessor or the Lessee such documents as the Owner Trustee or the Lessee Lessor shall reasonably request to evidence such release, including, if requested, a release of the Lender Deed of Trust relating to such Property, releases of the Assignment of Leases and Rents and the Construction Agency Agreement Assignment, in each case to the extent relating to such Property, and termination statements for any financing statements which are then of record naming the Lenders as the secured parties.

Release of Properties, etc. (a) If the Lessee shall at any time purchase any Property (or Lessor's leasehold interest in such Property under any Head Lease) pursuant to Article XV of the Master Lease, or the Construction Agent shall purchase exercise its Purchase Option with respect to any Property (or Lessor's leasehold interest in such Property under any Head Article XVIII of the Master Lease) pursuant to the Agency Agreement, or if any Property (or Lessor's leasehold interest in such Property under any Head Lease) all of the Properties shall be sold in accordance with Article XXII and the Lessee otherwise satisfies each of the obligations and conditions set forth at Article XX of the Master Lease, then, upon satisfaction by the Owner Trustee application of its obligation such amounts to prepay the Loans, Holder Advances Loans pursuant to Article IV and the Agent's and the Lenders' receipt of all accrued interest and any other amounts payments due and owing from Lessee and/or the Lessor to the Bank under Agent and the Operative AgreementsLenders on such date, including without limitation pursuant to Article XIII of the Bank Participation Agreement, such Property shall release such Properties (or Lessor's leasehold interests in such Properties under any Head Leases) be released from the Liens Lien in favor of the Lenders created by the Security Documents Assignment of Lease and Rent, to the extent relating to such Property, all without delivery of its interest therein. In addition, upon any instrument or performance of any act by any party. (b) Upon the termination of the Lenders' Commitments and the Holder Commitments Loan Agreement and the payment in full of the Loans, the Holder Advances Loans and all other amounts owing by the Owner Trustee and the Lessee Lessor hereunder or under any other Operative AgreementLoan Document, the Bank Properties shall release all be released from the Lien in favor of the Properties (or Lessor's leasehold interests in such Properties under any Head Leases) from the Liens Lenders created by the Security Documents Assignment of Lease and Rent, to the extent relating to such Property, without delivery of its interest therein. any instrument or performance of any act by any party. (c) Upon request of the Owner Trustee Lessor following a release of any such releaseProperty described in clause (a) or (b) above, the Bank Agent shall, at the sole cost and expense expenses of the LesseeLessor, execute and deliver to the Owner Trustee and Lessor or the Lessee such documents as the Owner Trustee or the Lessee Lessor shall reasonably request to evidence such release, including, if requested, a release of Assignment of Lease and Rent to the extent relating to such Property.