Common use of Release of Subsidiary Guarantee and Subsidiary Guarantor Covenant Clause in Contracts

Release of Subsidiary Guarantee and Subsidiary Guarantor Covenant. In the event of (a) any consolidation or merger of CRLP into MAALP in a transaction in which MAALP is the continuing or resulting Person or (b) any sale, assignment, transfer or other conveyance (other than a lease) of all or substantially all of CRLP’s assets to MAALP in any transaction or series of related transactions, MAALP and MAA shall be released, solely insofar as relates to the Notes, from their obligations set forth under this Section 4.14 and CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and, solely insofar as relates to the Notes, from all of its other obligations, if any, under this Indenture. CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and from all of its other obligations, if any, under this Indenture (i) if MAALP shall have effected legal defeasance or covenant defeasance with respect to the Notes pursuant to Section 11.02 or (ii) if this Indenture shall have ceased to be of further effect with respect to the Notes upon compliance by MAALP with the provisions set forth in Section 11.01, except in each case for such obligations which Section 11.02 or 11.01, as the case may be, expressly provides shall remain in effect notwithstanding any such legal defeasance, covenant defeasance or satisfaction and discharge, as the case may be. In the event of any such legal defeasance or covenant defeasance with respect to the Notes or in the event that this Indenture ceases to be of further effect with respect to the Notes pursuant to Section 11.01, then, in addition to the consequences thereof set forth above in this paragraph and in Section 11.02 or 11.01, as the case may be, MAALP and MAA shall also be released, solely insofar as relates to the Notes, from their respective obligations described under this Section 4.14. CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and, solely insofar as relates to the Notes, from all of its other obligations, if any, under this Indenture upon:

Release of Subsidiary Guarantee and Subsidiary Guarantor Covenant. In the event of (a) any consolidation or merger of CRLP into MAALP the Operating Partnership in a transaction in which MAALP the Operating Partnership is the continuing or resulting Person or (b) any sale, assignment, transfer or other conveyance (other than a lease) of all or substantially all of CRLP’s assets to MAALP the Operating Partnership in any transaction or series of related transactions, MAALP the Operating Partnership and MAA the Guarantor shall be released, solely insofar as relates to the Notes, from their obligations set forth under this Section 4.14 1018 and CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and, solely insofar as relates to the Notes, from all of its other obligations, if any, under this Indenture. “CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and and, solely insofar as relates to the Notes, from all of its other obligations, if any, under this Indenture (i) if MAALP the Operating Partnership shall have effected legal defeasance or covenant defeasance with respect to the Notes pursuant to Section 11.02 402 or (ii) if this Indenture shall have ceased to be of further effect with respect to the Notes upon compliance by MAALP the Operating Partnership with the provisions set forth in Section 11.01401, except in each case for such obligations which Section 11.02 402 or 11.01401, as the case may be, expressly provides shall remain in effect notwithstanding any such legal defeasance, covenant defeasance or satisfaction and discharge, as the case may be. In the event of any such legal defeasance or covenant defeasance with respect to the Notes or in the event that this Indenture ceases to be of further effect with respect to the Notes pursuant to Section 11.01401, then, in addition to the consequences thereof set forth above in this paragraph and in Section 11.02 402 or 11.01401, as the case may be, MAALP the Operating Partnership and MAA the Guarantor shall also be released, solely insofar as relates to the Notes, from their respective obligations described under this Section 4.141018. “CRLP shall be released from its obligations under its Subsidiary Guarantee, if any, of the Notes and, solely insofar as relates to the Notes, from all of its other obligations, if any, under this Indenture upon: