Release of Certain Land Clause Samples

The 'Release of Certain Land' clause allows for specific portions of property covered by an agreement, such as a mortgage or lease, to be removed from the agreement's obligations under certain conditions. Typically, this clause outlines the criteria or events—such as repayment of a portion of a loan or fulfillment of development milestones—that must be met for the release to occur, and may require formal documentation to effectuate the release. Its core practical function is to provide flexibility for the parties, enabling the owner to sell, develop, or otherwise use parts of the land without being restricted by the original agreement, thereby facilitating phased development or partial asset disposition.
Release of Certain Land. Notwithstanding any other ----------------------- provision hereof, the parties hereto reserve the right to amend this Agreement at any time and from time to time by mutual agreement for the purpose of effecting the release of and removal of: (a) any unimproved part of the Project Land (on which none of the components comprising the Project is located but on which parking, transportation or utility facilities may be located) on which the Issuer proposes to construct improvements for lease or sale under another and different agreement, or (b) any part of the Project Land with respect to which the Issuer proposes to grant an easement or convey a fee, interest or other title to a railroad or other public or private carrier or to any public utility or public body in order that transportation facilities or services by rail, water, road or other means or utility services for the Project may be provided, increased or improved; provided, that if at the time any such amendment is made any of the Bonds are outstanding, there shall be deposited with the Trustee the following: (i) a copy of such amendment as executed; (ii) a resolution of the Issuer (A) stating that the Issuer is not in default under any of the provisions hereof or of the Indenture and that the Company is not to the knowledge of the Issuer in default under any of the provisions hereof, (B) giving an adequate legal description of that portion of the Project Land to be released, (C) stating the purpose for which the Issuer desires the release, (D) stating that the improvements which will be constructed or the facilities and services which will be provided, increased or improved will be such as will promote at least one of the public purposes of the Issuer and (E) requesting such release; (iii) a certificate of an officer of the Company approving such amendment together with an officer's certificate stating that the Company is not in default under any of the provisions hereof; (iv) a copy of the agreement between the Issuer and such person wherein the Issuer agrees to construct improvements on the portion of the Project Land so requested to be released and agrees to lease or sell the same to such person, and wherein such person agrees to lease or purchase the same from the Issuer, or a copy of the instrument granting the easement or conveying the title or other interest to a railroad, public utility or public body; and (v) a certificate of an Authorized Company Representative dated more than sixty (60) d...
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Release of Certain Land. Notwithstanding any other provisions of this Agreement, the parties hereto reserve the right, at any time and from time to time, to amend this Agreement for the purpose of effecting the release of and removal from this Agreement of (i) any unimproved part of the real estate comprising part of the Project (on which no Facilities building or other building or equipment owned by Issuer and essential to the continued operation of the Project is situated) or (ii) any part of the Land with respect to which Issuer and City would propose to convey fee title to a railroad, public utility or public body in order that railroad service, utility services or roads may be provided for the Project.
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Release of Certain Land. Notwithstanding any other provisions of this Lease, the parties hereto reserve the right, at any time and from time to time, to amend this Lease for the purpose of effecting the release of or removal from this Lease and the leasehold estate created hereby of (i) any unimproved part of the Land (on which no part of the Building or other building or equipment owned by the Company and essential to the continued operation of the Project is situated), or (ii) any part of the Land with respect to which the Company proposes to convey fee title or an easement to a railroad, public utility or public body in order that railroad service, utility services or roads may be provided for the Project; provided that if at the time any such amendment is made any of the Loan is outstanding and unpaid such amendment shall not be effective until and unless the Lender has consented thereto in writing. (END OF ARTICLE VIII)
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Release of Certain Land. Provided no event of default shall have occurred and be continuing, me Company shall have the right to have the Issuer release from this Deed of Trust a part or parts of the real properly constituting the Land upon compliance with Section 9.4 of the Loan Agreement
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Release of Certain Land. Reference is made to, the provisions of the Agreement, including, without limitation, Section 11.3 thereof, wherein the County and the Company have reserved the right to withdraw certain portions of the Project Land from the Agreement and this Indenture upon compliance with the terms and conditions of the Agreement. The Trustee shall release from the Agreement and the lien of this Indenture any such land and from this Indenture all rights to and liens on the purchase price payments, other payments and revenues derived from such released land upon compliance with the provisions of the Agreement. The Trustee is hereby authorized and directed to execute and record, or cause to be executed and to be properly recorded. any and all instruments reasonably requested by the Company to effectuate a release from the Agreement and this Indenture of the Project Land and to terminate any security interest or other lien with respect thereto.
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Release of Certain Land. Notwithstanding any other provisions of this Agreement, the parties hereto reserve the right, at any time and from time to time, to amend this Agreement and the Indenture for the purpose of effecting the release of and removal from this Agreement, the leasehold estate created hereby and the lien of the Indenture of (a) any unimproved part of the Project Site (on which no Project building or other building or equipment owned by the Company and essential to the continued operation of the Project is situated) or (b) any part of the Project Site with respect to which the owner of the Project Site proposes to convey fee title to a railroad, public utility or public body in order that railroad service, utility services or roads may be provided for the Facility, provided, that if at the time any such amendment is made any of the Bonds are outstanding and unpaid, such amendment shall not be effective until and unless there are deposited with the Trustee the following: (i) Copies of the said amendments to this Agreement and the Indenture as executed; (ii) A resolution or ordinance of the Issuer (A) stating that the Issuer is not in default under any of the provisions of the Indenture and that the Issuer and the Company are not, to the knowledge of the Issuer, in default under any of the provisions of this Agreement, (B) giving an adequate legal description for that portion of the Project Site to be released, (C) stating the purpose for which the release is desired, (D) requesting such release and (E) approving such amendments to this Agreement; and (iii) Evidence of the authority of the officers of the Company who execute such amendments to this Agreement.
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Release of Certain Land. Notwithstanding any other provision of this Lease Agreement, the parties hereto reserve the right at any time and from time to time by mutual agreement to amend this Lease Agreement for the purpose of effecting the release of and removal from this Lease Agreement of any unimproved part of the Leased Land (on which neither the Building nor any Leased Equipment is located but on which parking, transportation, utility facilities or other support facilities may be located).
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Release of Certain Land. Reference is made to the provisions of the Lease Agreement, including, without limitation, Sections 8.6 and 11.3 thereof, wherein the Issuer and the Lessee have reserved the right to withdraw certain portions of the Leased Land from the Lease Agreement and the Security Deed upon compliance with the terms and conditions of the Lease Agreement. The Trustee shall release from this Indenture all rights to and liens on such portion of the Leased Land and the revenues and receipts derived from such released land upon compliance with the provisions of the Lease Agreement and the Security Deed. The Trustee is hereby authorized and directed to execute and record or cause to be executed and to be properly recorded any and all instruments reasonably requested by the Lessee to effectuate a conveyance of the Leased Land so released and to terminate any security interest or other lien with respect thereto.
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Related to Release of Certain Land

  • Termination of Certain Rights Any termination of this Lease pursuant to this Article 13 shall cause any right of the Lessee to extend the Term of this Lease, granted to the Lessee herein and any right of the Lessee to purchase the Leased Property contained in this Lease to be terminated and to be without further force or effect.

  • Construction of Certain Provisions If any provision of this Agreement or any of the Loan Documents refers to any action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person, whether or not expressly specified in such provision.

  • Use of Certain Words Unless the context requires otherwise: (i.) “including” (and any of its derivative forms) means including but not limited to;

  • Waiver of Certain Rights Each Member irrevocably waives any right it may have to maintain any action for dissolution of the Company or for partition of the property of the Company.

  • Waiver of Certain Laws Each of the Borrower and the Collateral Manager agrees, to the full extent that it may lawfully so agree, that neither it nor anyone claiming through or under it will set up, claim or seek to take advantage of any appraisement, valuation, stay, extension or redemption law now or hereafter in force in any locality where any Collateral may be situated in order to prevent, hinder or delay the enforcement or foreclosure of this Agreement, or the absolute sale of any of the Collateral or any part thereof, or the final and absolute putting into possession thereof, immediately after such sale, of the purchasers thereof, and each of the Borrower and the Collateral Manager, for itself and all who may at any time claim through or under it, hereby waives, to the full extent that it may be lawful so to do, the benefit of all such laws, and any and all right to have any of the properties or assets constituting the Collateral marshaled upon any such sale, and agrees that the Administrative Agent or any court having jurisdiction to foreclose the security interests granted in this Agreement may sell the Collateral as an entirety or in such parcels as the Administrative Agent or such court may determine.