Partial Release Amount means the amount that must be paid to Lender for the release of Lender’s Liens against a Lot as stated in the Deed of Trust for such Lot.
Partial Release Amount means, (i) with respect to the Lots, the amount that must be paid to Lender for the release of Lender’s Liens against a Lot, which amount must be equal to (a) in the event the Lot(s) being sold under a Lot Sale Contract which has been approved by Lender (including any amendments, modifications or supplements), one hundred percent (100%) of the Net Proceeds of the Lot, or (b) in the event of any Disposition of Lots, in whole or in part, other than pursuant to a Lot Sale Contract approved by Lender (including any amendments, modifications or supplements), such amount as is determined by Lender, in its sole discretion, or (ii) with respect to any Revenue Event, the amount that must be paid to Lender for the release of Lender’s Liens against the Reimbursement Contract, which amount must be equal to one hundred percent (100%) of the proceeds from or relating to such Revenue Event; provided, however, that upon the occurrence and during the continuation of an Event of Default, the proceeds from or relating to such Revenue Event may be reallocated, at Lender’s option and at such percentages as Lender determines, to the outstanding principal balance of the Loan and/or the Borrower’s obligations under the Profit Interest Agreement. Lender’s consent to any Lot Sale Contract or any amendment, modification or supplement thereto shall not be inferred from the foregoing references.
Partial Release Amount means the amount of the required payment on
Examples of Partial Release Amount in a sentence
Borrower shall be entitled to obtain a partial release from Lender’s Lien on one or more Project(s) covered by a Deed of Trust for the payment in cash to Lender of the Partial Release Amount for such Project.
Upon receipt by Lender of Borrower’s request for a release under this Section 5.2, and upon Lender’s receipt of the Partial Release Amount for the particular Project and Lien to be released, Lender, at Borrower’s expense, will release its Lien against such Lot subject to, and in accordance with, the provisions of Section 8.9 of the applicable Deed of Trust.
If ADG and Chemring agree that all or a portion of the Partial Release Amount shall be disbursed to the ADG Parties, Chemring and ADG shall execute and deliver joint written instructions to the Escrow Agent instructing the Escrow Agent to distribute such agreed-upon amount to the ADG Parties.
If, within such ten (10) Business Day period, Chemring notifies the Escrow Agent and ADG in writing that Chemring disputes that a Partial Release Event has occurred, the Escrow Agent shall retain and not disburse the Partial Release Amount to the ADG Parties.
Partial Release Amount.9 "Partial Release Amount" means the amount of the required payment on10 account of the AED Secured Claim on account of a sale of a portion of the Property,11 determined by multiplying the Creditor Value for the AED Secured Claim by the12 Release Percentage Amount shown on Exhibit A for the applicable portion of the13 property and multiplied by the number of acres in the sold property.14 59.
More Definitions of Partial Release Amount
Partial Release Amount means, with respect to the Lots, the amount that must be paid to Lender for the release of Lender’s Liens against a Lot, which amount must be equal to (i) in the event the Lot(s) being sold under a Lot Sale Contract which has been approved by Lender (including any amendments, modifications or supplements), the amount of Net Proceeds relating to such Lot, or (ii) in the event of any Disposition of Lots, in whole or in part, other than pursuant to a Lot Sale Contract approved by Lender (including any amendments, modifications or supplements), such amount as is determined by Lender, in its sole discretion. Notwithstanding anything to the contrary contained in the Loan Documents, (i) upon the occurrence and during the continuation of an Event of Default, Lender has no obligation to release any part of the Collateral, and (ii) Lender’s consent to any Lot Sale Contract or any amendment, modification or supplement thereto shall not be inferred from the foregoing references.
Partial Release Amount means, (a) with respect to the Lots, the amount that must be paid to Lender for the release of Lender’s Liens against a Lot, which amount must be equal to (i) in the event the Lot(s) being sold under a Lot Sale Contract which has been approved by Lender (including any amendments, modifications or supplements), the amount of Net Proceeds relating to such Lot, or (ii) in the event of any Disposition of Lots, in whole or in part, other than pursuant to a Lot Sale Contract approved by Lender (including any amendments, modifications or supplements), such amount as is determined by Lender, in its sole discretion, or (b) with respect to any Revenue Event, the amount that must be paid to Lender for the release of Lender’s Liens against the Reimbursement Contract, which amount must be equal to all of the proceeds from or relating to such Revenue Event to be allocated to the outstanding principal balance of the Loan. Notwithstanding anything to the contrary contained in the Loan Documents, (i) upon the occurrence and during the continuation of an Event of Default, Lender has no obligation to release any part of the Collateral, and (ii) Lender’s consent to any Lot Sale Contract or any amendment, modification or supplement thereto shall not be inferred from the foregoing references.
Partial Release Amount means, with respect to the Release Parcels, the following amounts: $21,276,000.00 for the Indiana Property; $9,850,000.00 for the Kansas Property; and $8,274,000.00 for the Maryland Property; and
Partial Release Amount means, with respect to a particular Cash Release Date, 50% of the amount of any CLO IV Management Fee actually received by with Company with respect to the three month period ending on such Cash Release Date.
Partial Release Amount has the meaning set forth in Section 2.17(b).
Partial Release Amount means (A) if no claims for payment under Section 7.08 or indemnity claims asserted by Purchaser Indemnitees pursuant to ARTICLE X have been made prior to the Partial Release Date and either resolved in favor of any Purchaser Indemnitee or remain unpaid, pending or unresolved in dispute as of the Partial Release Date, then an amount equal to Three Million Eight Hundred Fifty Thousand and No/100 Dollars ($3,850,000.00), less any amounts paid or payable under Section 2.07, with any Escrow Shares being distributed pursuant to this clause (A) being valued at the Purchaser Stock Price (subject to adjustment to reflect appropriately the effect of any stock split, reverse stock split, stock dividend, extraordinary cash dividends, reorganization, recapitalization, reclassification, combination, exchange of shares or other like), and (B) in all other circumstances, an amount such that, following the release thereof, the value of the remaining Escrow Fund equals the lesser of (y) the value of the entire Escrow Fund immediately prior to such release, or (x) the sum of (I) Two Million Two Hundred Fifty Thousand and No/100 Dollars ($2,250,000.00), plus (II) any interest previously accrued on the Escrow Fund, plus (III) the amount of any claims for payment under Sections 2.07 or 7.08 or indemnity claims asserted by Purchaser Indemnitees pursuant to ARTICLE X which remain unpaid, pending or unresolved in dispute as of the Partial Release Date.
Partial Release Amount means, except as otherwise set forth in Section 3.9.3(b), with respect to any Project, an amount of immediately available funds sufficient to pay the aggregate of the following: