Lender Release definition
Examples of Lender Release in a sentence
The Tenants and the Guarantors shall give or cause to be given any consents, releases or other authorizations reasonably required by the Landlord for such Ventas Assignment and Lender Release at the Tenants’ sole cost.
Borrowers shall have delivered to Lender a payoff letter executed by First Bank, N.A. Borrowers shall have delivered to Lender Release of Obligations and Stock Purchase Agreements executed by Signature, Inc., ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, and ▇▇▇▇ ▇▇▇▇▇▇▇, respectively, all in form and substance satisfactory to Lender.
On the Deed in Lieu Closing Date and at such time as the Escrow Agent is in possession of all items required to be delivered pursuant to subsections (d), (e) and (f) hereinabove, Borrower and Lender shall each instruct the Escrow Agent, as escrow and closing agent, to (i) deliver to Lender the Deed in Lieu Documents, and (ii) deliver to Borrower the Lender Release.
Purchase Price credits for Lender Release Surcharges are subject to strict compliance with the Lot Closing requirements of Section 3.3.1.
Buyer is not entitled to any cash rebate or refund of Lender Release Surcharges.
This Lender Release is not binding on any of (i) any Lender that does not execute this Agreement, (ii) the Administrative Agent or (iii) the Collateral Agent.
The Purchase Price of each Lot shall be the product of (i) the Project Return determined pursuant to Section 3.2 minus the amount of the Purchase Prices (exclusive of any Lender Release Surcharges described below) paid to Seller for previously Closed Lots, multiplied by (ii) the Allocation Percentage for such Lot.
When the mortgage(s) have been fully satisfied, the amount of any Lender Release Surcharges shall be allocated equally among the remaining Lots, the Base Price of which shall be reduced by a like amount at Closing.
Purchaser agrees to promptly seek and diligently pursue obtaining the Lender Release as soon as possible after the execution of this Agreement, which efforts shall include such assumptions of liability, indemnities, collateral and credit enhancement by Purchaser and its affiliates as the Lender may reasonably require as a condition to granting the Lender Release.
On the Closing Date (as defined below), (i) GTA-IB shall deliver to Borrower and Guarantor a duly executed release by Lender in favor of Borrower and Guarantor in the form attached hereto as Exhibit B-1 (the “Borrower Release”), and (ii) Borrower, Guarantor and any other guarantors shall deliver to GTA-IB a release of Lender in the form attached hereto as Exhibit B-2 (the “Lender Release”; Borrower Release and the Lender Release, collectively the “Releases”).