Common use of PARTIAL RELEASE OF PROPERTIES Clause in Contracts

PARTIAL RELEASE OF PROPERTIES. Borrower shall have the right to obtain releases of individual Properties from the lien of the Mortgages and the other Loan Documents (and to obtain a release of any Ordinary Capital Expenditure Funds, Capital Improvement Funds, Tax Funds and Insurance Premium Funds held in connection therewith) upon the following terms and conditions: (i) no default shall have occurred and be continuing under the Loan Documents; (ii) the covenant set forth in SECTION 5.1.11 entitled "Single Purpose" shall be fully satisfied, such that the Borrower will no longer own the released Property;