Release of Pledged Property. If (i) the Borrower or its Subsidiary sells, transfers or disposes of any Pledged Property in a transaction permitted by this Agreement and (ii) no Default under Sections 7.01(b), Section 7.01(h) or Section 7.01(i) or Event of Default shall have occurred hereunder and be continuing (or would exist immediately after giving effect to the transactions contemplated by this Section 4A.09), the Administrative Agent shall release such Pledged Property from the Lien or security title of the Security Documents encumbering the same upon the written request of the Borrower, subject to and upon the following terms and conditions: 103
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (Veris Residential, L.P.), Revolving Credit and Term Loan Agreement (Veris Residential, L.P.)