Applicable Release Price definition
Applicable Release Price means, as to any Real Property specified on Part II of Schedule VI hereto, the amount specified for such Real Property on Schedule VI hereto.
Applicable Release Price for each Project shall be an amount equal to the sum of (i) the “Base Release Price” shown opposite the name of such Project on Schedule 9.1(b), plus (ii) the additional amount (if any) required to reduce the outstanding principal amount of the Loan, immediately after giving effect to the prepayment of the Loan associated with such release, to an amount not exceeding seventy percent (70%) of the aggregate “as stabilized” value of the Project or Projects that will remain subject to Mortgages in favor of Lender after the requested release (each, a “Remaining Project,” and collectively, the “Remaining Projects”), based upon a current appraisal of each Remaining Project (which appraisal(s) shall be obtained by Lender at Borrowers’ expense, upon at least twenty-one (21) days’ prior written request by the Requesting Borrowers).
Applicable Release Price. Means for the applicable Future Phase Land the price set forth below: Applicable Future Phase Land Applicable Release Price Future Phase Lot 2 The product of $4/s.f. times the total s.f. of Future Phase ▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇ The product of $8/s.f. times the total s.f. of Future Phase ▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇ The product of $8/s.f. times the total s.f. of Future Phase Lot 4
More Definitions of Applicable Release Price
Applicable Release Price. As such term is defined in Section 9.1(b).
Applicable Release Price means in respect of each Property, 125% of the allocated Loan amount assigned to such Property, as set forth on the schedule of allocated Loan amounts attached hereto as Schedule 1.1(a), subject, in each case, to revision to account for any deduction of allocated Loan amounts pursuant to Section 2.3.2.
Applicable Release Price means in respect of each Property, (i) at all times when the Loan principal balance is equal to or greater than $40,000,000, 115% of the allocated Loan amount assigned to such Property, as set forth on the schedule of allocated Loan amounts attached hereto as Schedule 1.1(a), and (ii) at all times when the Loan principal balance is less than $40,000,000, 110% of the allocated Loan amount assigned to such Property, as set forth on the schedule of allocated Loan amounts attached hereto as Schedule 1.1(a), subject, in each case, to revision to account for any deduction of allocated Loan amounts pursuant to Section 2.3.2.