Common use of Discounted Payoff Clause in Contracts

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Agreement or any Mezzanine Loan Agreement, any Mezzanine Borrower and its Affiliates shall be permitted to make a Discounted Payoff of any Mezzanine Loan; provided that, no Event of Default is continuing (solely under the Loan and not any Mezzanine Loan) and, provided, further, that any Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents, any prepayments made by any Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such portion of any Mezzanine Loan held by any Mezzanine Lender or participant in any Mezzanine Loan by an amount equal to the Face Amount of such Discounted Payoff. For purposes of calculating the Debt Yield, any portion of any Mezzanine Loan deemed outstanding after giving effect to such Discounted Payoff shall be reduced by the Face Amount of any Mezzanine Loan retired in connection with such Discounted Payoff.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party Borrower or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff prepayment under this Agreement or any Mezzanine Loan Agreement, any as applicable, each Mezzanine Borrower and its Affiliates shall be permitted to make prepay any portion of the related Mezzanine Loan (each a “Discounted Payoff of any Mezzanine Loan; Payoff”) provided that, no Event of Default is continuing, no Mezzanine A Loan Default is continuing (solely under and no Mezzanine B Loan Default is continuing, provided further that the Loan and not any Mezzanine Loan) and, provided, further, that any applicable Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any a Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the related Mezzanine Loan held by the holder of the such Mezzanine Loan (which may be any of the Mezzanine Lenders or participants holding an interest in such Mezzanine Loans) accepting such Discounted Payoff and not to Lender or any other Mezzanine Lender or participant in any holder of the related Mezzanine Loan by an amount equal to the Face Amount of Loan. Notwithstanding such Discounted Payoff. For purposes of calculating , the Debt Yield, any portion of any applicable Mezzanine Loan shall be deemed to remain outstanding after giving effect at the amount of principal then outstanding immediately prior to such Discounted Payoff shall be reduced by for purposes of calculating Debt Yield and the Face Amount of any Mezzanine Loan retired in connection with such Discounted PayoffDebt Service Coverage Ratio.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Agreement or any the applicable Mezzanine Loan Agreement, any Mezzanine Borrower and its respective Affiliates shall be permitted to make prepay at a discount all or any portion of a Mezzanine Loan (including any participations) (a “Discounted Payoff of any Mezzanine LoanPayoff”); provided that, no Event of Default is continuing (solely under the Loan and not any the applicable Mezzanine Loan) and, provided, further, that any the Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents, any prepayments made by any Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such portion of any the Mezzanine Loan held by any the Mezzanine Lender or participant in any the Mezzanine Loan by an amount equal to the Face Amount of such Discounted Payoff. For purposes of calculating the Debt Yield, any portion of any the Mezzanine Loan deemed outstanding after giving effect to such Discounted Payoff shall be reduced by the Face Amount of any the Mezzanine Loan retired in connection with such Discounted Payoff.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party Borrower or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, accept a Discounted Payoff under this Loan Agreement or any Mezzanine Loan Agreement, any as applicable, each Mezzanine Borrower and its Affiliates shall be permitted to make prepay at a discount any portion of the related Mezzanine Loan (each a “Discounted Payoff of any Mezzanine LoanPayoff”); provided that, no Event of Default is continuing (solely under the Loan and not any Mezzanine Loan) and, provided, further, and provided further that any the applicable Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any a Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the related Mezzanine Loan Loan, as applicable, held by any the Mezzanine Lender or participant in any the Loan or such Mezzanine Loan accepting such Discounted Payoff by an amount equal to the Face Amount of Amount. Notwithstanding such Discounted Payoff. For purposes of calculating , the Debt Yield, any portion of any applicable Mezzanine Loan shall be deemed to remain outstanding after giving effect at the amount of principal then outstanding immediately prior to such Discounted Payoff shall be reduced by the Face Amount for purposes of any Mezzanine Loan retired in connection with such Discounted Payoffcalculating Debt Yield.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party Borrower or any Mezzanine A Borrower to make, or any Lender or any Mezzanine A Lender to accept, a Discounted Payoff prepayment under this Loan Agreement or any the Mezzanine A Loan Agreement, any Mezzanine as applicable, Borrower and its Affiliates Mezzanine A Borrower shall be permitted to make prepay any portion of the Loan or the Mezzanine A Loan (each a “Discounted Payoff of any Mezzanine Loan; Payoff”) provided that, no Event of Default, Mortgage Loan Default or Mezzanine A Loan Default is continuing (solely under continuing, provided further that the Loan and not any Mezzanine Loan) and, provided, further, that any applicable Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any a Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the related Mezzanine Loan held by the holder of such Mezzanine Loan (which may be any of the Mezzanine Lenders or participants holding an interest in such Mezzanine Loan) accepting such Discounted Payoff and not to Lender or any other Mezzanine Lender or participant in any the holder of the related Mezzanine Loan by an amount equal to the Face Amount of Loan. Notwithstanding such Discounted Payoff. For purposes of calculating , the Debt Yield, any portion of any applicable Mezzanine Loan shall be deemed to remain outstanding after giving effect at the amount of principal then outstanding immediately prior to such Discounted Payoff shall be reduced by for purposes of calculating Debt Yield and the Face Amount of any Mezzanine Loan retired in connection with such Discounted PayoffDebt Service Coverage Ratio.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party Borrower or any Mezzanine B Borrower to make, or any Lender or any Mezzanine B Lender to accept, a Discounted Payoff prepayment under this Loan Agreement or any the Mezzanine B Loan Agreement, any Mezzanine as applicable, Borrower and its Affiliates Mezzanine B Borrower shall be permitted to make prepay any portion of the Loan or the Mezzanine B Loan (each a “Discounted Payoff of any Mezzanine Loan; Payoff”) provided that, no Event of Default, Mortgage Loan Default or Mezzanine B Loan Default is continuing (solely under continuing, provided further that the Loan and not any Mezzanine Loan) and, provided, further, that any applicable Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any a Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the related Mezzanine Loan held by the holder of the such Mezzanine Loan (which may be any of the Mezzanine Lenders or participants holding an interest in such Mezzanine Loans) accepting such Discounted Payoff and not to Lender or any other Mezzanine Lender or participant in any holder of the related Mezzanine Loan by an amount equal to the Face Amount of Loan. Notwithstanding such Discounted Payoff. For purposes of calculating , the Debt Yield, any portion of any applicable Mezzanine Loan shall be deemed to remain outstanding after giving effect at the amount of principal then outstanding immediately prior to such Discounted Payoff shall be reduced by for purposes of calculating Debt Yield and the Face Amount of any Mezzanine Loan retired in connection with such Discounted PayoffDebt Service Coverage Ratio.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party Borrower or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Loan Agreement or any Mezzanine Loan Agreement, any as applicable, each Mezzanine Borrower and its Affiliates shall be permitted to make prepay at a discount any portion of the related Mezzanine Loan (each a “Discounted Payoff of any Mezzanine LoanPayoff”); provided that, no Event of Default is continuing, no Mezzanine A Loan Default is continuing, no Mezzanine B Loan Default is continuing (solely under the and no Mezzanine C Loan and not any Mezzanine Loan) Default is continuing and, provided, further, and provided further that any the applicable Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented agrees to accept such prepaymentDiscounted Payoff. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any a Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the related Mezzanine Loan held by any the Mezzanine Lender or participant in any such Mezzanine Loan accepting such Discounted Payoff by an amount equal to the Face Amount of Amount. Notwithstanding such Discounted Payoff. For purposes of calculating , the Debt Yield, any portion of any applicable Mezzanine Loan shall be deemed to remain outstanding after giving effect at the amount of principal then outstanding immediately prior to such Discounted Payoff shall be reduced by the Face Amount for purposes of any Mezzanine Loan retired in connection with such Discounted Payoffcalculating Debt Yield.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party or any Mezzanine Borrower Borrowers to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Agreement or any the applicable Mezzanine Loan Agreement, any as applicable, Mezzanine Borrower and its Affiliates Borrowers shall be permitted to make prepay at a Discounted Payoff discount all or any portion of any Mezzanine LoanLoan (each a “Discounted Payoff”); provided that, no Event of Default is continuing (solely under the Loan and not any Mezzanine Loan) and, and provided, further, that any the Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender DocumentsAgreement, any prepayments made by any the Mezzanine Borrower or its Affiliates Borrowers in connection with a Discounted Payoff shall be applied solely to reduce such the portion of any the Mezzanine Loan Loans held by any the Mezzanine Lender or participant in any the Mezzanine Loan Loans by an amount equal to the Face Amount of such Discounted Payoff. For purposes of calculating the Debt YieldYield (Aggregate), any portion of any the Mezzanine Loan Loans deemed outstanding after giving effect to upon such Discounted Payoff shall be reduced by the Face Amount amount of any the Mezzanine Loan Loan(s) retired in connection with such Discounted Payoff.