Examples of Mall Release Date in a sentence
The Loan Parties’ Phase II Mall Release Certificate shall indicate the anticipated Phase II Mall Release Date and set forth all the other information required thereby, including the Phase II Mall Required Completion Amount.
Subject to the provisions of the Phase II Mall Collateral Account Agreement, amounts on deposit in the Phase II Mall Equity Account shall, from time to time, (a) be transferred to the Disbursement Account for application to pay Project Costs in accordance with Section 2.4.3(a) and/or (b) applied to prepayment of the Phase II Mall Construction Loan Obligations in accordance with Section 5.13, and, on the Phase II Mall Release Date, applied as provided in Section 2.8(d).
Similarly, the Company shall determine the precise boundaries for the Mall I Space by the Mall Release Date.
The obligations of Seller, VCR and Purchaser to close the transfer of the Assets under this Agreement is expressly conditioned upon the Mall Release Date having occurred.
On the Final Completion Date, the Disbursement Agent shall (a) withdraw all remaining funds from the Bank Proceeds Account and deliver such funds to the Bank Agent and (b) release to the account specified in the Final Completion Certificate delivered by LCR and (except after the Phase II Mall Release Date) the Phase II Mall Borrowers all other amounts on deposit in the other Accounts.
On the Mall Release Date, Lender shall release VCR, LVSI and all of their related Affiliates (other than Mall Subsidiary) from any further obligations with respect to the Obligations.
From and after the Mall Release Date, after giving effect to the requested Advance, the amount of funds on deposit in the Mall Retainage/Punchlist Account shall equal or exceed 125% of the Mall Punchlist Completion Amount.
The provision of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided, however, this Agreement shall terminate upon the last to occur of (i) the Mall Release Date, or (ii) the date of payment in full of all Obligations under the Bank Credit Facility.
From and after the Mall Release Date, Mall I LLC will (a) if the Mall Parcel Creation Date has occurred and from and after such occurrence, own the Mall and the Mall Easements in fee simple and (b) if the Mall Parcel Creation Date has not occurred and until such occurrence, have good leasehold title to the Mall and the Mall Easements.
On the Mall Release Date in accordance with Section 5.16(c) of the Disbursement Agreement, the Bank Agent and the Mortgage Notes Indenture Trustee shall release their respective liens on and security interests in the Mall Collateral and the Interim Mall Lender shall release LVSI, Venetian, the Mall Construction Subsidiary and all other members of the Company Group other than Mall I LLC from all Obligations and liabilities under the Interim Mall Facility.