Common use of Release of the Property, etc Clause in Contracts

Release of the Property, etc. (a) If the Lessee shall at any time purchase the Property pursuant to Section 17.2 of the Lease, then, upon satisfaction by the Borrower of its obligation to prepay the Project Loan pursuant to Section 3.2(b) and to pay accrued interest and Prepayment Premium, if any, on the Project Loan so prepaid pursuant to Section 3.2, the Property shall be released from the Liens created by the Security Documents, all without delivery of any instrument or performance of any act by any party. In addition, upon payment in full of the Project Loan and all other amounts owing by the Borrower hereunder or under any other Project Loan Document by the Borrower, the Property shall be released from the Liens created by the Security Documents, all without delivery of any instrument or performance of any act by any party. Upon request of the Borrower following any such release, the Lender shall, at the sole cost and expense of the Borrower, execute and deliver to the Borrower or the Lessee such documents as the Borrower shall reasonably request to evidence such release.

Release of the Property, etc. (a) If the Lessee shall at any time purchase the Property pursuant to Section 17.2 of the Lease or exercise its Purchase Option with respect to the Property under Article XXI of the Lease, then, then upon satisfaction by the Borrower of its obligation to prepay the Project Loan Loans pursuant to Section 3.2(b3.3(b) and to pay accrued interest and Prepayment Premium, if any, on the Project Loan Loans so prepaid pursuant to Section 3.2, the Property shall be released from the Liens created by the Security Documents, all without delivery of any instrument or performance of any act by any party. In addition, upon payment in full of the Project Loan and all other amounts owing by the Borrower hereunder or under any other Project Loan Document and termination of the Project Loan Commitment by the Borrower, the Property shall be released from the Liens created by the Security Documents, all without delivery of any instrument or performance of any act by any party. Upon request of the Borrower following any such release, the Lender shall, at the sole cost and expense of the Borrower, execute and deliver to the Borrower or the Lessee such documents as the Borrower shall reasonably request to evidence such release.