Voluntary Defeasance. (a) Provided no Event of Default shall then exist, at any time after the earlier to occur of (i) the Defeasance Lockout Date and (ii) three (3) years after the date hereof, Borrowers shall have the right at any time prior to the Prepayment Lockout Expiration Date to voluntarily defease the Loan in whole, but not in part, by and upon satisfaction of the following conditions (such event being a “Defeasance Event”):
Appears in 3 contracts
Samples: Pledge and Security Agreement (MPG Office Trust, Inc.), Pledge and Security Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)
Voluntary Defeasance. (a) Provided no Event of Default shall then exist, at any time after the earlier to occur of (ix) the Defeasance Lockout Date and Date, or (iiy) three the third (33rd) years after anniversary of the date hereoffirst Payment Date, Borrowers Borrower shall have the right at any time prior to the Prepayment Lockout Expiration Date to voluntarily defease the Loan in whole, but not in part, by and upon satisfaction of the following conditions (such event being a “Defeasance Event”):
Appears in 2 contracts
Samples: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)
Voluntary Defeasance. (a) Provided no Event of Default shall then exist, at any time after the earlier to occur of (i) exist and so long as the Defeasance Lockout Date and (ii) three (3) years after the date hereofhas occurred, Borrowers shall have the right at any time prior to time, on any Payment Date occurring after the Prepayment Defeasance Lockout Expiration Date Date, to voluntarily defease the Loan in whole, whole (but not in part, ) by and upon satisfaction of the following conditions (such event being a “"Defeasance Event”"):
Appears in 1 contract
Voluntary Defeasance. (a) Provided no Event of Default shall then exist, at any time from and after the earlier to occur of (i) the Permitted Release Date and the Defeasance Lockout Date and (ii) three (3) years after the date hereof, Borrowers Borrower shall have the right at any time prior to the Prepayment Lockout Expiration Maturity Date to voluntarily defease all or any portion of the Loan in whole, but not in part, by and upon satisfaction of the following conditions (such event being a “Defeasance Event”):
Appears in 1 contract
Samples: Loan Agreement (Sabre Corp)
