Mortgage Release Event definition
Mortgage Release Event means, on any date of determination, as applicable, that:
Mortgage Release Event means the date of which each of the following shall have occurred: (a) no Event of Default shall exist and (b) the date on which Availability has been more than the greater of (i) $50,000,000 and (b) 15% of the Maximum Credit Amount, in either case, for a period of ninety (90) consecutive days.
Mortgage Release Event means that (x) the action giving rise to the Mortgage Trigger Event has been dismissed with prejudice, has been litigated to a final judgment which has been paid in full or has been settled for a settlement amount that has been paid in full, and (y) no Default or Event of Default shall exist or shall result therefrom or from any payment made in connection therewith.