Partial Release Date definition

Partial Release Date shall have the meaning set forth in Section 5.12(c).

Partial Release Date has the meaning assigned in Section 2.12.

Partial Release Date has the meaning set forth in Section 10.03 of this Loan Agreement.

Examples of Partial Release Date in a sentence

• Subject to the satisfaction of the provisions of this Section, any Borrower other than EDR owning the Release Tract which has no other ownership interest in any of the Remaining Projects, will be released from further payment and performance of the Loans on the Partial Release Date, other than obligations under the Environmental Indemnity.

• The allocated portion of the Loan with respect to each entire parcel constituting a portion of the Property shall be determined by the Lender based upon the Lender’s review and approval, prior to the Partial Release Date, of the appraisal reports ordered by the Lender in accordance with subparagraph (c) above.

• Subject to the satisfaction of the provisions of this Section, the Borrower owning the Release Tract and which has no other ownership interest in any of the remaining Mortgaged Properties shall be released from all obligations under the Loan Documents, including without limitation, further payment and performance of the Loans on the Partial Release Date, other than pending obligations under the Environmental Indemnity.

• Subject to the satisfaction of the provisions of this Section, any Borrower owning the Release Tract which has no other ownership interest in any of the Remaining Projects, will be released from further payment and performance of the Loans on the Partial Release Date, other than obligations under the Environmental Indemnity.

• Borrower must provide not less than thirty (30) days prior written notice to Lender requesting a Partial Release and identifying the Release Property and date upon which it desires to have the Release Property released ("Partial Release Date").

More Definitions of Partial Release Date

Partial Release Date has the meaning set forth in Section 4.2(a) hereof.

Partial Release Date has the meaning assigned to such term in Section 2.6(1)(a)(i).

Partial Release Date means the date on which a partial release shall occur pursuant to Section 2.6.2 hereof.

Partial Release Date. As defined in Section 4.11 hereof.

Partial Release Date shall have the meaning set forth in Section 6.7 hereof. “Partial Release Minimum Debt Yield” shall mean ten percent (10.0%). “Partial Release Minimum LTV” shall mean forty-four percent (44.0%). “Partial Release Price” shall mean (a) with respect to the Individual Property known as Xxxxxxxxxx Heights, the greater of (i) $40,500,000.00 and (ii) the Partial Release Property Net Sale Proceeds for such Individual Property and (b) with respect to each Individual Property other than the Individual Property known as Xxxxxxxxxx Heights, the greater of (i) one hundred sixty percent (160%) of the Allocated Loan Amount for the applicable Partial Release Property and (ii) the Partial Release Property Net Sale Proceeds for the applicable Partial Release Property. “Partial Release Property” shall mean each Individual Property that is the subject of a Partial Release as set forth herein. “Partial Release Property Net Sale Proceeds” shall mean, in connection with the Partial Release of the Partial Release Property, the value of all consideration received by Borrower in connection with the sale of such Partial Release Property, including cash, notes, assumed indebtedness, deferred payments (contingent or otherwise), prepaid expenses and non-

Partial Release Date shall have the meaning set forth in Section 6.7 hereof. “Partial Release Minimum Debt Yield” shall mean ten percent (10.0%). “Partial Release Minimum LTV” shall mean forty-four percent (44.0%). “Partial Release Price” shall mean (a) with respect to the Individual Property known as Xxxxxxxxxx Heights, the greater of (i) $40,500,000.00 and (ii) the Partial Release Property Net Sale Proceeds for such Individual Property and (b) with respect to each Individual Property other than the Individual Property known as Xxxxxxxxxx Heights, the greater of (i) one hundred sixty percent (160%) of the Allocated Loan Amount for the applicable Partial Release Property and (ii) the Partial Release Property Net Sale Proceeds for the applicable Partial Release Property. “Partial Release Property” shall mean each Individual Property that is the subject of a Partial Release as set forth herein. “Partial Release Property Net Sale Proceeds” shall mean, in connection with the Partial Release of the Partial Release Property, the value of all consideration received by Borrower in connection with the sale of such Partial Release Property, including cash, notes, assumed indebtedness, deferred payments (contingent or otherwise), prepaid expenses and non- customary prorations in favor of Borrower, less the reasonable and actual costs and expenses of such sale reasonably approved by Xxxxxx, including broker’s commissions payable to a third party Person that is not an Affiliate of any Restricted Party which Person is reasonably acceptable to Lender under a marketing agreement reasonably acceptable to Lender, market rate sales and marketing expenses payable to Lender-approved third party sales and marketing service providers that are not Affiliates of any Restricted Party, legal fees and transfer, sales and recording taxes (but excluding income taxes attribute to such sale), all of which costs and expenses shall not exceed (a) four percent (4%) of the gross contract price with respect to any such sale where the gross contract price is equal to or greater than $10,000,000.00 other than the sale of the Individual Property known as Commerce Plaza at Hillcrest, (b) five percent (5%) of

Partial Release Date has the meaning set forth in Section 10.03 of this Maximum Loan Agreement.