Common use of Discounted Payoff Clause in Contracts

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

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower, Borrower or any other Loan Party or Mezzanine Borrowers Borrower to make, or any Lender or any Mezzanine Lender to accept, accept a Discounted Payoff under this Loan Agreement or the applicable any Mezzanine Loan Agreement, as applicable, each Mezzanine Borrowers Borrower shall be permitted to prepay at a discount all or any portion of any the related Mezzanine Loan (each a “Discounted Payoff”); provided that, no Event of Default is continuing and, and provided, further, provided further that the applicable Mezzanine Lender receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by the a Mezzanine Borrowers Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the related Mezzanine Loans Loan, as applicable, held by the Mezzanine Lender or participant in the Loan or such Mezzanine Loans Loan accepting such Discounted Payoff by an amount equal to the Face Amount of Amount. Notwithstanding such Discounted Payoff. For , the applicable Mezzanine Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating the Debt Yield (Aggregate), any portion of the Mezzanine Loans deemed outstanding upon such Discounted Payoff shall be reduced by the amount of the Mezzanine Loan(s) retired in connection with such Discounted PayoffYield.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower, Borrower or any other Loan Party or Mezzanine Borrowers B Borrower to make, or any Lender or any Mezzanine B Lender to accept, a Discounted Payoff prepayment under this Loan Agreement or the applicable Mezzanine B Loan Agreement, as applicable, Borrower and Mezzanine Borrowers B Borrower shall be permitted to prepay at a discount all or any portion of any the Loan or the Mezzanine B Loan (each a “Discounted Payoff”); ) provided that, no Event of Default, Mortgage Loan Default or Mezzanine B Loan Default is continuing andcontinuing, and provided, further, provided further that the applicable Mezzanine Lender receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by the a Mezzanine Borrowers Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the related Mezzanine Loans 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 holder of the related Mezzanine Loans by an amount equal to the Face Amount of Loan. Notwithstanding such Discounted Payoff. For , the applicable Mezzanine Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield and the Debt Yield (Aggregate), any portion of the Mezzanine Loans deemed outstanding upon such Discounted Payoff shall be reduced by the amount of the Mezzanine Loan(s) retired in connection with such Discounted PayoffService Coverage Ratio.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower, Borrower or any other Loan Party or Mezzanine Borrowers Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Loan Agreement or the applicable any Mezzanine Loan Agreement, as applicable, each Mezzanine Borrowers Borrower shall be permitted to prepay at a discount all or any portion of any the related Mezzanine Loan (each a “Discounted Payoff”); provided that, no Event of Default is continuing, no Mezzanine A Loan Default is continuing, no Mezzanine B Loan Default is continuing and no Mezzanine C Loan Default is continuing and, and provided, further, provided further that the applicable Mezzanine Lender receiving such Discounted Payoff has consented agrees to accept such prepaymentDiscounted Payoff. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by the a Mezzanine Borrowers Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the related Mezzanine Loans Loan held by the Mezzanine Lender or participant in the such Mezzanine Loans Loan accepting such Discounted Payoff by an amount equal to the Face Amount of Amount. Notwithstanding such Discounted Payoff. For , the applicable Mezzanine Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating the Debt Yield (Aggregate), any portion of the Mezzanine Loans deemed outstanding upon such Discounted Payoff shall be reduced by the amount of the Mezzanine Loan(s) retired in connection with such Discounted PayoffYield.

Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower, Borrower or any other Loan Party or Mezzanine Borrowers Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff prepayment under this Agreement or the applicable any Mezzanine Loan Agreement, as applicable, each Mezzanine Borrowers Borrower shall be permitted to prepay at a discount all or any portion of any the related Mezzanine Loan (each a “Discounted Payoff”); ) provided that, no Event of Default is continuing, no Mezzanine A Loan Default is continuing andand no Mezzanine B Loan Default is continuing, and provided, further, provided further that the applicable Mezzanine Lender receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by the a Mezzanine Borrowers Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the related Mezzanine Loans 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 holder of the related Mezzanine Loans by an amount equal to the Face Amount of Loan. Notwithstanding such Discounted Payoff. For , the applicable Mezzanine Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield and the Debt Yield (Aggregate), any portion of the Mezzanine Loans deemed outstanding upon such Discounted Payoff shall be reduced by the amount of the Mezzanine Loan(s) retired in connection with such Discounted PayoffService Coverage Ratio.

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