Common use of Voluntary Defeasance Clause in Contracts

Voluntary Defeasance. (a) Provided no Event of Default shall then exist, Borrower shall have the right on any Payment Date after the Permitted Release Date and prior to the Anticipated Repayment Date to voluntarily defease all or any portion of the Loan by and upon satisfaction of the following conditions (such event being a "Defeasance Event"): (i) Borrower shall provide not less than thirty (30) days prior (ii) written notice to Lender specifying the Payment Date (the "Defeasance Date") on which the Defeasance Event and the principal amount of the Loan to be defeased;

Voluntary Defeasance. (a) Provided no Event of Default shall then exist, Borrower shall have the right on any Payment Date after the Permitted Release Date and prior to the Anticipated Repayment Defeasance Date to voluntarily defease all or any portion all, but not part, of the Loan by and upon satisfaction of the following conditions (such event being a "“Defeasance Event"”): (i) Borrower shall provide not less than thirty (30) days prior (ii) written notice to Lender specifying the Payment Date (the "Defeasance Date"which notice shall be revocable by Borrower on at least two (2) on which the Defeasance Event and the principal amount of the Loan Business Days’ prior written notice to be defeased;▇▇▇▇▇▇, provided that ▇▇▇▇▇▇▇▇