Release of Individual Property. If Borrower has elected to defease a portion of the Loan and the requirements of Section 2.4 and this Section 2.5 have been satisfied, Borrower may obtain the release of an Individual Property from the Lien of the Mortgage thereon (and related Loan Documents) and the release of Borrower's obligations under the Loan Documents with respect to such Individual Property (other than those expressly stated to survive), upon the satisfaction of each of the following conditions: (a) The principal balance of the Defeased Note shall equal or exceed (b) the Adjusted Release Amount for the applicable Individual Property; provided, however, if the undefeased portion of the Loan at the time a release is requested is less than the Adjusted
Appears in 2 contracts
Sources: Loan Agreement (Inland Real Estate Corp), Loan Agreement (Inland Real Estate Corp)