Common use of Right to Release Any Portion of the Property Clause in Contracts

Right to Release Any Portion of the Property. Lender may release any portion of the Property for such consideration as Lender may require without, as to the remainder of the Property, in any way impairing or affecting the Lien or priority of this Deed of Trust, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the Debt shall have been reduced by the actual monetary consideration, if any, received by Lender for such release, and Lender may accept by assignment, pledge or otherwise any other property in place thereof as Lender may require without being accountable for so doing to any other lienholder. This Deed of Trust shall continue as a Lien and security interest in the remaining portion of the Property.

Appears in 3 contracts

Samples: Deed of Trust (Glimcher Realty Trust), Guarantor Deed of Trust, Assignment of Leases and Rents, Security Agreement and Guaranty (Horizon Group Properties Inc), Deed of Trust, Assignment of Leases and Rents and Security Agreement (Horizon Group Properties Inc)

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Right to Release Any Portion of the Property. Lender may release any portion of the Property for such consideration as Lender may require without, as to the remainder of the Property, in any way impairing or affecting the Lien lien or priority of this Deed of Trust, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the Debt shall have been reduced by the actual monetary consideration, if any, received by Lender for such release, and Lender may accept by assignment, pledge or otherwise any other property in place thereof as Lender may require without being accountable for so doing to any other lienholder. This Deed of Trust shall continue as a Lien lien and security interest in the remaining portion of the Property.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT I, Inc.)

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