Common use of Debt Cancellation Clause in Contracts

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 212 contracts

Sources: Loan Agreement (Industrial Logistics Properties Trust), Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 35 contracts

Sources: Loan Agreement (Reading International Inc), Loan Agreement (Pacific Oak Strategic Opportunity REIT II, Inc.), Senior Loan Agreement (KBS Strategic Opportunity REIT, Inc.)

Debt Cancellation. Borrower shall not cancel Cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 28 contracts

Sources: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Affordable Residential Communities Inc)

Debt Cancellation. Borrower shall not cancel Cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to the Borrower by any a Person, except for adequate consideration and or in the ordinary course of the Borrower’s businessbusiness in its reasonable judgment.

Appears in 27 contracts

Sources: Borrower Loan Agreement, Borrower Loan Agreement, Borrower Loan Agreement

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 22 contracts

Sources: Loan Agreement (Hudson Pacific Properties, L.P.), Loan Agreement (Parkway, Inc.), Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 19 contracts

Sources: Loan Agreement (NOVONIX LTD), Loan Agreement (NOVONIX LTD), Loan Agreement (Medalist Diversified REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower▇▇▇▇▇▇▇▇’s business.

Appears in 12 contracts

Sources: Loan Agreement (Ares Real Estate Income Trust Inc.), Loan Agreement (Clipper Realty Inc.), Loan Agreement (Net Lease Office Properties)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 10 contracts

Sources: Loan Agreement, Loan Agreement (Terra Tech Corp.), Loan Agreement (Terra Tech Corp.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 9 contracts

Sources: Loan Agreement (American Realty Capital New York City REIT, Inc.), Loan Agreement (American Finance Trust, Inc), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s 's business.

Appears in 7 contracts

Sources: Loan Agreement (Parking REIT, Inc.), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerB▇▇▇▇▇▇▇’s business.

Appears in 7 contracts

Sources: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (W. P. Carey Inc.), Loan Agreement (Industrial Logistics Properties Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or allow Owner to cancel or otherwise forgive or release) any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower (or Owner) by any Person, except for adequate consideration and in the ordinary course of Borrower’s (or Owner’s) business.

Appears in 6 contracts

Sources: Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine Loan Agreement (Morgans Hotel Group Co.), Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower or Operating Lessee by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Operating Lessee’s business.

Appears in 6 contracts

Sources: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower▇▇▇▇▇▇▇▇’s business.

Appears in 5 contracts

Sources: Loan Agreement (Nexpoint Diversified Real Estate Trust), Loan Agreement (SITE Centers Corp.), Loan Agreement (reAlpha Tech Corp.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithsubject to the requirements hereof) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 5 contracts

Sources: Loan Agreement (Americold Realty Trust), Loan Agreement (Americold Realty Trust), Loan Agreement (Americold Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 5 contracts

Sources: Loan and Security Agreement (Fortress Credit Realty Income Trust), Loan and Security Agreement (Fortress Credit Realty Income Trust), Loan Agreement (Spirit Finance Corp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith or settlement of Tenant or similar disputes) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 5 contracts

Sources: Loan Agreement (SITE Centers Corp.), Loan Agreement (Retail Value Inc.), Loan Agreement (Retail Value Inc.)

Debt Cancellation. Borrower shall not, and shall not permit Operating Company to, cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Sources: Loan Agreement, Loan Agreement (Harrahs Entertainment Inc), Loan Agreement (Harrahs Entertainment Inc)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 4 contracts

Sources: Loan Agreement (Bref Hr, LLC), Loan Agreement (Morgans Hotel Group Co.), Loan Agreement (Hard Rock Hotel Holdings, LLC)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration or as is prudent and commercially reasonable and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Sources: Mezzanine Loan Agreement (Wyndham International Inc), Mezzanine Loan Agreement (Wyndham International Inc), Mezzanine Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 4 contracts

Sources: Loan Agreement (Sun Communities Inc), Loan Agreement (Sun Communities Inc), Loan Agreement (Strategic Hotels & Resorts, Inc)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business.

Appears in 4 contracts

Sources: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrowers by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers’ business.

Appears in 4 contracts

Sources: Credit Agreement (FelCor Lodging LP), Revolving Credit Agreement (FelCor Lodging Trust Inc), Credit Agreement (FelCor Lodging Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than the termination of Leases in accordance herewithherewith and the settlement of claims against Tenants and/or service providers in connection with such Persons’ defaults) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 4 contracts

Sources: Loan Agreement (Alexanders Inc), Loan Agreement (Alexanders Inc), Loan Agreement (Urban Edge Properties)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 3 contracts

Sources: Mezzanine Loan Agreement (Industrial Logistics Properties Trust), Mezzanine Loan Agreement (Industrial Logistics Properties Trust), Mezzanine Loan Agreement (Industrial Logistics Properties Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business.

Appears in 3 contracts

Sources: Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Bluerock Residential Growth REIT, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and or in the ordinary course of such Borrower’s business's business in its reasonable judgment and consistent with the Prudent Manager Standard.

Appears in 3 contracts

Sources: Loan Agreement (Prime Retail Lp), Loan Agreement (Horizon Group Properties Inc), Loan Agreement (Prime Retail Lp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement and the Mortgage Loan Agreement) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 3 contracts

Sources: Mezzanine Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Mezzanine Loan Agreement (Morgans Hotel Group Co.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business in its reasonable judgment.

Appears in 3 contracts

Sources: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

Debt Cancellation. Neither Borrower shall not cancel or otherwise forgive or release any claim or debt (other than in connection with termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 3 contracts

Sources: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)

Debt Cancellation. No Borrower nor any Property Owner shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 3 contracts

Sources: Loan Agreement (Gramercy Capital Corp), Senior Mezzanine Loan Agreement (Gramercy Capital Corp), Senior Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, other than rent abatements or concessions in the ordinary course of business.

Appears in 3 contracts

Sources: Loan Agreement (City Office REIT, Inc.), Loan Agreement (City Office REIT, Inc.), Loan Agreement (City Office REIT, Inc.)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business's business in its reasonable judgment.

Appears in 2 contracts

Sources: Loan Agreement (Innkeepers Usa Trust/Fl), Loan Agreement (Innkeepers Usa Trust/Fl)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 2 contracts

Sources: Loan Agreement (Wyndham International Inc), Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any PersonPerson if such cancellation or forgiveness has a Material Adverse Effect with respect to Borrower or the current and/or intended operation of the Property, except for adequate consideration and or in the ordinary course of Borrower’s businessbusiness (including Borrower’s determination that any account receivable is uncollectable).

Appears in 2 contracts

Sources: Loan Agreement, Loan Agreement (Consolidated Tomoka Land Co)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration (or other good faith business reasons) and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (NorthStar Healthcare Income, Inc.), Loan Agreement (Northstar Realty Finance Corp.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination or amendment of Leases in accordance herewithherewith or in accordance with the terms of the Leases) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Industrial Logistics Properties Trust), Loan Agreement (Industrial Logistics Properties Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith Section 5.2.14 hereof or, provided that no Event of Default is then continuing, forgiveness in the ordinary course of ▇▇▇▇▇▇▇▇’s business of Rent in arrears or in connection with a settlement with a Tenant under a Lease) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower▇▇▇▇▇▇▇▇’s business.

Appears in 2 contracts

Sources: Loan Agreement (Apartment Income REIT, L.P.), Loan Agreement (Apartment Income REIT, L.P.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or for other legal or business considerations deemed prudent by Borrower.

Appears in 2 contracts

Sources: Loan Agreement (MPG Office Trust, Inc.), Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith and for claims of less than $20,000) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Acadia Realty Trust), Loan Agreement (Acadia Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the surrender or termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (W2007 Grace Acquisition I Inc), Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Bon Ton Stores Inc), Loan Agreement (Bon Ton Stores Inc)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement and the Mortgage Loan Agreement) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration (or other good faith business reasons) and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 2 contracts

Sources: Mezzanine Loan Agreement (Northstar Realty Finance Corp.), Mezzanine Loan Agreement (NorthStar Healthcare Income, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s its business. Borrower shall not permit any Master Tenant to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed by any Tenant unless such cancellation, forgiveness or release is consistent with a commercially reasonable operation of the related Individual Property.

Appears in 2 contracts

Sources: Loan Agreement (Lineage, Inc.), Loan Agreement (Lineage, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Generation Income Properties, Inc.), Loan Agreement (Generation Income Properties, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business, or otherwise pursuant to a Vacate Agreement entered into in accordance with the Escrow Agreement.

Appears in 2 contracts

Sources: Loan Agreement (Ambase Corp), Loan Agreement (Ambase Corp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. Borrower shall not permit or cause Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 2 contracts

Sources: Loan Amendment (Vici Properties Inc.), Mezzanine Loan Agreement (Vici Properties Inc.)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrowers by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers' business.

Appears in 2 contracts

Sources: Revolving Credit Agreement (FelCor Lodging LP), Revolving Credit Agreement (FelCor Lodging Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or permit Owner to cancel or otherwise forgive or release) any claim or debt (other than the surrender or termination of Leases in accordance herewith) owed to Borrower or Owner by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Owner’s business.

Appears in 2 contracts

Sources: Mezzanine Loan Agreement (W2007 Grace Acquisition I Inc), Mezzanine Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases or Hotel Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Host Marriott L P), Loan Agreement (Host Marriott Corp/)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Mezzanine Loan Agreement, Mezzanine Loan Agreement (TNP Strategic Retail Trust, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (American Realty Capital Hospitality Trust, Inc.), Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewithherewith or in accordance with the terms of such Leases) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Griffin Capital Essential Asset REIT II, Inc.), Loan Agreement (Griffin Capital Essential Asset REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination or modification of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 2 contracts

Sources: Loan Agreement (Capitalsource Inc), Mezzanine Loan Agreement (Capitalsource Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, provided, that, nothing contained in this Section shall in and of itself require Borrower to pursue collection of debts in a manner that is not commercially reasonable.

Appears in 2 contracts

Sources: Loan Agreement (Wells Real Estate Investment Trust Inc), Loan Agreement (Wells Real Estate Investment Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 2 contracts

Sources: Mezzanine Loan Agreement (Cole Credit Property Trust Inc), Mezzanine Loan Agreement (Cole Credit Property Trust III, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s 's business.

Appears in 2 contracts

Sources: Loan Agreement (Servico Market Center Inc), Loan Agreement (Lodgian Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrower, HHSD or Operating Lessee by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Operating Lessee’s business.

Appears in 1 contract

Sources: Loan Agreement (Ashford Hospitality Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and or in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Strategic Hotels & Resorts, Inc)

Debt Cancellation. No Individual Borrower shall not cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Strategic Storage Trust II, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of BorrowerB▇▇▇▇▇▇▇’s business.

Appears in 1 contract

Sources: Promissory Note (FX Real Estate & Entertainment Inc.)

Debt Cancellation. Borrower shall not, and shall not Permit Property Owner to, cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Toys R Us Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination with respect to terminations of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Inland Real Estate Income Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business other than receivables from previous limited partners of the Borrowers in an aggregate amount not to exceed $1,000,000.

Appears in 1 contract

Sources: Loan Agreement (Grove Property Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithherewith or the terms of the Master Lease) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Sothebys)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business, and except that (if applicable) cancellation, forgiveness or releases in respect of Hotel Transactions may be effected in Borrower’s reasonable business judgment.

Appears in 1 contract

Sources: Loan Agreement (Moody National REIT I, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or as reasonably approved by Lender.

Appears in 1 contract

Sources: Loan Agreement (Pebblebrook Hotel Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Business Loan Agreement (NV5 Holdings, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith Section 5.2.14 hereof or, provided that no Event of Default is then continuing, forgiveness in the ordinary course of Borrower’s business of Rent in arrears or in connection with a settlement with a Tenant under a Lease) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Apartment Income REIT, L.P.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration (in its reasonable business judgment) and in the ordinary course of Borrower’s business's business in its reasonable judgment.

Appears in 1 contract

Sources: Loan Agreement (Uniprop Manufactured Housing Communities Income Fund)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any claim or debt (other than in connection with termination of Leases in accordance herewithherewith or with Transfers permitted hereunder) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Plymouth Industrial REIT Inc.)

Debt Cancellation. Borrower shall not (and shall not permit Mortgage Borrower to) cancel or otherwise forgive or release any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower or Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s or Mortgage Borrower’s business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Clipper Realty Inc.)

Debt Cancellation. Borrower shall not cancel Cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business.'s business in its reasonable judgment;

Appears in 1 contract

Sources: Loan Agreement (Acadia Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases or Unit Sale Contracts in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Howard Hughes Corp)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. Borrower shall not permit Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance with the Mortgage Loan Documents) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Telx Group, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Cole Corporate Income Trust, Inc.)

Debt Cancellation. . Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower's business. Borrower shall not permit Mortgage Borrower to cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith the Mortgage Loan Documents) owed to Mortgage Borrower by any Person, except for adequate consideration and in the ordinary course of Mortgage Borrower’s 's business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Prime Group Realty Trust)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers’ business, provided, that, nothing contained in this Section shall in and of itself require any Borrower to pursue collection of debts in a manner that is not commercially reasonable.

Appears in 1 contract

Sources: Loan Agreement (Wells Real Estate Investment Trust Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release (or permit any Borrower Subsidiary to cancel or otherwise forgive or release) any claim or debt (other than the termination of Leases in accordance herewith) owed to Borrower such Person by any other Person, except for adequate consideration and in the ordinary course of Borrower’s (or such Borrower Subsidiary’s) business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (New York REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, including any arising under any of the Leases and Material Agreements except (i) with respect to the Leases and Material Agreements, in accordance with and subject to the terms hereof and (ii) with respect to other matters, for adequate consideration and in the ordinary course of Borrower’s business's business and on commercially reasonable terms, subject to other restrictions contained herein or in any other Loan Document.

Appears in 1 contract

Sources: Loan Agreement (Entertainment Properties Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive ----------------- or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, Person except for adequate consideration and in the ordinary course of Borrower’s business's business and on commercially reasonable terms, subject to other restrictions contained herein or in any other Loan Document.

Appears in 1 contract

Sources: Loan Agreement (Desert Springs Marriott Limited Partnership)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower or Operating Lessee by any Person, except for adequate consideration and in the ordinary course of BorrowerB▇▇▇▇▇▇▇’s or Operating Lessee’s business.

Appears in 1 contract

Sources: Loan Agreement (Stirling Hotels & Resorts, Inc.)

Debt Cancellation. Neither Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers' business.

Appears in 1 contract

Sources: Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any PersonPerson if such cancellation or forgiveness has a material adverse effect on Borrower or the current and/or intended operation of the Property, except for adequate consideration and or in the ordinary course of Borrower’s businessbusiness (including Borrower’s determination that any account receivable is uncollectable).

Appears in 1 contract

Sources: Loan Agreement (Consolidated Tomoka Land Co)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.. 40

Appears in 1 contract

Sources: Loan Agreement (Hines Global REIT, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s 's business.

Appears in 1 contract

Sources: Loan Agreement (EQT Exeter Real Estate Income Trust, Inc.)

Debt Cancellation. Individual Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to such Individual Borrower by any Person, except for adequate consideration and in the ordinary course of such Individual Borrower’s businessbusiness in its reasonable judgment in a manner consistent with the operation of a first class office property.

Appears in 1 contract

Sources: Loan Agreement (Cb Richard Ellis Realty Trust)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, including any arising under any of the Leases, if applicable, the Property Management Agreement and Material Agreements except for adequate consideration and in the ordinary course of Borrower’s businessbusiness and on commercially reasonable terms, subject to other restrictions contained herein or in any other Loan Document.

Appears in 1 contract

Sources: Loan Agreement (Colony Resorts LVH Acquisitions LLC)

Debt Cancellation. Other than respect to any Lease, Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (AG Mortgage Investment Trust, Inc.)

Debt Cancellation. Borrower Borrowers shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower Borrowers by any Person, except for adequate consideration and in the ordinary course of Borrower’s Borrowers’ business.

Appears in 1 contract

Sources: Loan Agreement (Maguire Properties Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessBorr▇▇▇▇’▇ ▇usiness.

Appears in 1 contract

Sources: Loan Agreement (Creative Media & Community Trust Corp)

Debt Cancellation. Each Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to any Borrower by any Person, except for adequate consideration and in the ordinary course of any Borrower’s 's business.

Appears in 1 contract

Sources: Loan Agreement (Ventas Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s ▇▇▇▇▇▇▇▇'s business.

Appears in 1 contract

Sources: Loan Agreement (Cedar Realty Trust, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or if such cancellation, forgiveness or release is prudent and commercially reasonable.

Appears in 1 contract

Sources: Loan Agreement (Sunstone Hotel Investors, Inc.)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s businessbusiness or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 1 contract

Sources: Loan Agreement (Wyndham International Inc)

Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance herewithwith this Agreement) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.

Appears in 1 contract

Sources: Loan Agreement (Gramercy Capital Corp)

Debt Cancellation. Borrower shall not, and shall not permit Mortgage Borrower to, cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) Debt owed to Borrower it by any Person, except for adequate consideration and or in the ordinary course of Borrower’s its business.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (New York REIT, Inc.)

Debt Cancellation. No Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than termination of Leases in accordance herewith) owed to such Borrower by any Person, except for adequate consideration and in the ordinary course of such Borrower’s business, or otherwise in accordance with Section 12.4 hereof.

Appears in 1 contract

Sources: Loan Agreement (Bref Hr, LLC)

Debt Cancellation. Borrower shall not cancel or otherwise forgive ----------------- or release any claim or debt (other than termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business's business or otherwise if such cancellation, release or forgiveness is prudent and commercially reasonable.

Appears in 1 contract

Sources: Loan Agreement (Wyndham International Inc)