Release of the Property Sample Clauses

The 'Release of the Property' clause defines the conditions and procedures under which a property is formally relinquished from one party to another, typically at the conclusion of a lease, sale, or other contractual arrangement. This clause often outlines requirements such as the return of keys, removal of personal belongings, and the completion of any necessary inspections or repairs before the property is officially handed over. Its core practical function is to ensure a clear and orderly transfer of possession, minimizing disputes by specifying each party’s responsibilities at the point of release.
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Release of the Property. (a) If Borrower has elected to defease the Note in its entirety, and the requirements of Section 2.3 have been satisfied, the Property shall be released from the Lien of the applicable Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note. (b) In connection with the release of the Lien, Borrower shall submit to Lender, not less than twenty (20) days prior to the Defeasance Date, a release of Lien (and related Loan Documents) for the Property (for execution by Lender) in a form appropriate in the State satisfactory to Lender in its sole discretion and all other documentation Lender requires to be delivered by Borrower in connection with such release, together with an Officer's Certificate certifying that such documentation (i) is in compliance with all Legal Requirements, and (ii) will effect such release in accordance with the terms of this Agreement.
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Release of the Property. (a) If Borrower has elected to defease the Loan and the requirements of Section 2.5 and this Section 2.6 have been satisfied, the Property shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note. (b) In connection with the release of the Mortgage, Borrower shall submit to Lender, not less than thirty (30) days prior to the Defeasance Date, a release of Lien (and related Loan Documents) for the Property for execution by Lender. Such release shall be in a form appropriate in the jurisdiction in which the Property is located and that would be satisfactory to a prudent lender. In addition, Borrower shall provide all other documentation Lender reasonably requires to be delivered by Borrower in connection with such release, together with an Officer's Certificate certifying that such documentation (i) is in compliance with all Legal Requirements, and (ii) will effect such releases in accordance with the terms of this Agreement.
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Release of the Property. Except as set forth in this Section 2.5, no repayment or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of the Mortgage on the Property. Lender shall, at the expense of Borrower, upon payment in full of all principal and interest on the Loan and all other amounts due and payable by Borrower under the Loan Documents in accordance with the terms and provisions of the Note and this Agreement, promptly release the Lien of the Mortgage from the Property in accordance with the provisions described in Section 2.5.2.
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Release of the Property. (a) If the Borrower has elected to defease all or a portion of the Loan and the requirements of SECTION 2.3 and this SECTION 2.4 have been satisfied, the Property, in the event of a Defeasance Event including the entire outstanding amount of the Loan, or such portion thereof applicable to the Defeasance Deposit paid to Lender by Borrower pursuant to SECTION 2.3.2 (a) (iv) in the event of a Defeasance Event involving a portion of the Property, shall be released from the Lien of the Mortgage and the U.S. Obligations, pledged pursuant to the Security Agreement, shall be the sole source of collateral securing the Note or portion thereof applicable to the Defeasance Deposit. (b) In connection with a Defeasance Event, Borrower shall submit to Lender, not less than thirty (30) days prior to the Defeasance Date, a release of Lien (and related Loan Documents) for the Property or portion thereof applicable to the Defeasance Event for execution by Lender. Such release shall be in a form appropriate in the jurisdiction in which the Property is located and satisfactory to Lender in its sole discretion. In addition, Borrower shall provide all other documentation Lender reasonably requires to be delivered by Borrower in connection with such release, together with an Officers' Certificate certifying that such documentation (i) is in compliance with all Legal Requirements, and (ii) will effect such release in accordance with the terms of this Agreement.
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Release of the Property. Except as set forth in this Section 2.4, no repayment, prepayment or Defeasance of all or any portion of any Note shall cause, give rise to a right to require, or otherwise result in, the release of the Lien of any Security Instrument on any of the Properties.
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Release of the Property. Following the third (3rd) anniversary of the Month-End Date and prior to the Optional Prepayment Date, Borrower may obtain a release of the Property from the lien of the Security Instrument and the Other Security Documents provided that the following conditions have been satisfied: (1) Borrower shall have provided not less than 30 and not more than 60 days prior written notice (the "Defeasance Notice") to Lender specifying the scheduled date on which the Defeasance Collateral (as hereinafter defined) is to be delivered in the manner hereinafter provided (the "Release Date");
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Release of the Property 
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Related to Release of the Property

  • Use of the Property 3.9.1 To use the Property for the purpose of a private residence only in the occupation of the Permitted Occupant and not for business purposes. 3.9.2 Not to remove the Fixtures and Fittings of the Property or to store them in any way or place within or outside the Property that may reasonably lead to damage to the items or to the items deteriorating more quickly than if they had remained in the same location as at the beginning of the Tenancy. 3.9.3 Not to use the Property for any immoral or illegal purpose. 3.9.4 Not to register a company at the address of the Property. 3.9.5 Not to operate a business trade or profession from the Property. 3.9.6 Not to use consume or allow to be used or consumed any drugs or any other substance which is, or becomes, prohibited or restricted by law; 3.9.7 Not to smoke, vape or smoke e-cigarettes or permit any other resident in the Property or any guest or visitor to smoke tobacco, vape or smoke e-cigarettes or any other substance in the Property or to burn or allow any other person to burn any candles, incense sticks (or similar) without the Landlord's prior written consent. If in breach of this clause, the Tenant will be in breach of this Agreement and liable for or to compensate the Landlord in damages for the cleaning of the carpets to a professional standard and the cleaning of the curtains by whatever method is specified for the type of curtain material and the washing down of walls and redecoration if necessary to rid the Property of the odour of nicotine, incense, or any other substance caused by the Tenant or any visitor to the Property and to restore the interior to the condition described in the Inventory and Schedule of Condition if damaged through unauthorised use of candles, incense sticks, (or similar) or smoking in the Property. 3.9.8 Not to use the Property or allow others to use the Property so as to cause a nuisance, annoyance, or cause damage to any neighbouring, adjoining or adjacent Property or the owners or occupiers thereof. This shall include any nuisance caused by noise. 3.9.9 Not to decorate, make any alterations, or additions to or in the Property or puncture walls, timbers or other parts of the Property without the prior written consent of the Landlord or the Agent. 3.9.10 Not to hang any posters, pictures or other items in the Property using blu-tack, sellotape, nails, adhesive, or their equivalents but only by using a reasonable number of commercial picture hooks; 3.9.11 Not to place any aerial, satellite dish, notice, advertisement, sign or board on or in the Property without the prior consent of the Landlord. In the event such consent be given the Tenant will prior to removing from the property remove such equipment and make good and redecorate as reasonably required. 3.9.12 Not to remove, dispose of and if necessary repair any item or rectify and make good any damage due to the actions or inaction of the Tenant without the Landlord’s consent. 3.9.13 Not to keep any dangerous or inflammable goods, materials or substances in or on the Property, apart from small quantities of fuel, and other items, stored in a safe manner, required for general domestic household use. 3.9.14 Not to or permit barbecue in or on the Property including any balcony, roof terrace or garden if the Property is subject to a head lease; or if the Property is freehold to barbecue only in designated areas as agreed in writing with the Landlord or the Agent; 3.9.15 Not to use or gain access to any loft space or area at the Property except in the case of an extreme emergency. 3.9.16 To inform the Landlord or the Landlord’s Agent upon each and every occasion that access to the loft space or area is gained with clarification of the circumstances of the emergency which lead to the access. 3.9.17 Not to hold or allow any sale by auction at the Property. 3.9.18 To empty any septic tank or treatment plant regularly and at the end of the Tenancy if it has been emptied prior to the start of the Tenancy and proof provided to the Tenant by the Landlord or the Landlord’s Agent if applicable; 3.9.19 To keep the oil or LPG tank filled during and at the end of the Tenancy and provide proof to the Landlord or the Landlord’s Agent provided it was filled at the commencement of the Tenancy; 3.9.20 To pay any call out charges if the oil or LPG tank runs dry and the oil or LPG system has to be bled to remove an air lock if applicable; 3.9.21 To run all taps in sinks, basins and baths, flush lavatories and run any showers for twenty minutes upon taking up occupation and after the property has been vacant for any period of seven days or more, to reduce any risk against legionella. 3.9.22 To regularly top up any water softener left at the property with the correct salts at the Tenants own expense. 3.9.23 To not introduce into the Property any portable heaters fired by liquid or bottled gas fuels. 3.9.24 To comply with any requirements of the local authority for collection of recycling and/or garden waste. 3.9.25 To comply with the Gas Safety Regulations relating to the Property and in particular to do the following: 3.9.25.1 Not to block any ventilation in the Property and in particular ducts provided to comply with gas safety. 3.9.25.2 To report promptly to the Landlord or the Landlord’s Agent any brown or sooty build-up on or around any gas appliance.

  • Sale of the Property Any sale of the Property shall not affect this Lease or any of your obligations, but upon such sale we will be released from all of our obligations under this Lease and the new owner of the Property will be responsible for the performance of the duties of "Landlord" from and after the date of such sale.

  • Condition of the Property All bidders shall be deemed to have carried out all investigations and examinations of the Property and the title particulars at their own costs and expenses and upon being successful, accept the property in the state and condition in which the Property is at the date of the auction sale.

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • SALE OF THE PREMISES In the event the Property is marketed to be sold by the Owner during the Term of this Agreement, the Agent: (check one)