Substitution of Penn Traffic Properties. Subject to the terms of this Section 2.7, Borrower may obtain the release of Borrower’s obligations under the Loan Documents with respect to a Penn Traffic Property f (each, a “Penn Traffic Release Property”) by substituting therefor another industrial property of like kind and quality acquired by Mortgage Borrower (individually, a “Penn Traffic Substitute Property” and collectively, the “Penn Traffic Substitute Properties”), provided that the following conditions precedent are satisfied:
Appears in 7 contracts
Samples: Mezzanine a Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine C Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine E Loan Agreement (KBS Real Estate Investment Trust, Inc.)
Substitution of Penn Traffic Properties. Subject to the terms of this Section 2.7, Borrower may obtain the obtain, from time to time, a release of Borrower’s obligations under the Loan Documents with respect to a Penn Traffic Property f from the Lien of the related Security Instrument (and the related Loan Documents) (each, a “Penn Traffic Release Property”) by substituting therefor another industrial property of like kind and quality acquired by Mortgage Borrower (individually, a “Penn Traffic Substitute Property” and collectively, the “Penn Traffic Substitute Properties”), provided that the following conditions precedent are satisfied:
Appears in 2 contracts
Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.), Loan Agreement (KBS Real Estate Investment Trust, Inc.)
