Common use of Voluntary Defeasance of the Note Clause in Contracts

Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal (hereinafter, a "DEFEASANCE"); provided, that no such Defeasance may occur prior to the Release Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Saul Centers Inc)

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Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower Borrowers may defease all or any portion of the Principal Loan evidenced by the Note (hereinafter, a "DEFEASANCEDefeasance"); provided, that no such Defeasance may occur prior to the Release Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Prime Retail Lp)

Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal Loan evidenced by the Note (hereinafter, a "DEFEASANCEDefeasance"); provided, that no such Defeasance may occur prior to the Release Date or after the third Payment Date prior to the Optional Prepayment Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Innkeepers Usa Trust/Fl)

Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal (hereinafter, a "DEFEASANCEDefeasance"); provided, that no such Defeasance may occur prior to the Release Date or from and after the Optional Prepayment Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Fac Realty Trust Inc)

Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal (hereinafter, a "DEFEASANCE"); provided, that no such Defeasance may occur after the Conversion Date and prior to the Release Date and provided from time to time no Defeasance shall be required from and after the Optional Prepayment Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Brookdale Living Communities Inc)

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Voluntary Defeasance of the Note. (a) Subject to the terms -------------------------------- and conditions set forth in this Section 2.3.3, Borrower may defease all or any portion of the Principal (hereinafter, a "DEFEASANCEDefeasance"); provided, that no such Defeasance may occur after the Conversion Date and prior to the Release Date and provided from time to time no Defeasance shall be required from and after the Optional Prepayment Date. Each Defeasance shall be subject, in each case, to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Brookdale Living Communities Inc)

Voluntary Defeasance of the Note. (a) Subject On or after the Optional Defeasance Date and subject to the terms -------------------------------- and conditions set forth in this Section 2.3.32.3.2, Borrower may defease all or any portion (but not less than all) of the Principal Loan evidenced by the Note with U.S. Government Securities (hereinafter, a "DEFEASANCEDefeasance"); provided, that no such Defeasance may occur prior . Borrower's right to the Release Date. Each effect a Defeasance shall be subject, in each case, ---------- subject to the satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Loan Agreement (Desert Springs Marriott Limited Partnership)

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