Distributions to Mezzanine Borrower. All transfers of funds on deposit in the Cash Management Account to the Mezzanine Debt Service Account or otherwise to or for the benefit of Mezzanine Borrower or Mezzanine Lender pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents or Mezzanine Loan Documents are intended by Borrower to constitute, and shall constitute, direct or indirect, as applicable, distributions from Borrower to Mezzanine Borrower and shall be recorded accordingly in the books and records of the Borrower and Mxxxxxxxx Borrower and comply with the separateness provisions set forth herein. No provision of the Loan Documents or the Mezzanine Loan Documents shall create a debtor-creditor relationship between Borrower and Mezzanine Borrower or between Borrower and Mezzanine Lender.
Distributions to Mezzanine Borrower. All transfers of funds on deposit in the Cash Management Account to the Mezzanine Debt Service Account or otherwise to or for the benefit of Senior Mezzanine Lender, Senior Mezzanine Borrower, Junior Mezzanine Lender or Junior Mezzanine Borrower, pursuant to the Loan Agreement, the Cash Management Agreement or any of the other Loan Documents or Mezzanine Loan Documents are intended by Borrower, Senior Mezzanine Borrower and Junior Mezzanine Borrower to constitute, and shall constitute, distributions from Borrower to Senior Mezzanine Borrower and from Senior Mezzanine Borrower to Junior Mezzanine Borrower, as applicable. No provision of the Loan Documents or the Mezzanine Loan Documents shall create a debtor-creditor relationship between Borrower and either Senior Mezzanine Lender or Junior Mezzanine Lender.
Distributions to Mezzanine Borrower. All transfers of funds on deposit in the Cash Management Account to the Mezzanine A Debt Service Account or the Mezzanine B Debt Service Account or otherwise to or for the benefit of Mezzanine A Lender or Mezzanine B Lender pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents, the Mezzanine A Loan Documents or the Mezzanine B Loan Documents are intended by Borrower to constitute, and shall constitute, distributions from Borrower to the Mezzanine A Borrower or Mezzanine A Borrower, as applicable, and shall be recorded accordingly in the books and records of the Borrower and the applicable Mezzanine Borrower and comply with the separateness provisions set forth in Section 5.1 hereof. No provision of the Loan Documents, the Mezzanine A Loan Documents or the Mezzanine B Loan Documents shall create a debtor-creditor relationship between Borrower and Mezzanine A Lender or Mezzanine B Lender.
Distributions to Mezzanine Borrower. All transfers of funds on deposit in the Cash Management Account to or for the benefit of the Mezzanine Lender, pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents or the Mezzanine Loan Document are intended by Borrower, the Mezzanine Borrower and the Mezzanine Lender to constitute, and shall constitute, distributions from Borrower to the Mezzanine Borrower. No provision of the Loan Documents or the Mezzanine Loan Documents shall create a debtor-creditor relationship between Xxxxxxxx and the Mezzanine Lender.
Distributions to Mezzanine Borrower. For so long as a Mezzanine Loan is outstanding, all transfers of funds on deposit in the Cash Management Account to or for the benefit of the Mezzanine Lender, pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents or Mezzanine Loan Documents are intended by Borrower, the Mezzanine Borrower and the Mezzanine Lender to constitute, and shall constitute, distributions from Borrower to the Mezzanine Borrower and from one Mezzanine Borrower to another Mezzanine Borrower, as applicable. No provision of the Loan Documents or the Mezzanine Loan Documents shall create a debtor-creditor relationship between Borrower and any Mezzanine Lender. Section
Distributions to Mezzanine Borrower. All transfers of any Reserve Funds to either Mezzanine Agent, pursuant to this Agreement are intended by Borrower, Senior Mezzanine Borrower and Junior Mezzanine Borrower to constitute, and shall constitute, (a) with respect to Senior Mezzanine Borrower, distributions from Borrower to Senior Mezzanine Borrower and shall be recorded accordingly in the books and records of Borrower and Senior Mezzanine Borrower and (b) with respect to Junior Mezzanine Borrower, distributions from Borrower to Senior Mezzanine Borrower and from Senior Mezzanine Borrower to Junior Mezzanine Borrower and shall be recorded accordingly in the books and records of Borrower, Senior Mezzanine Borrower and Junior Mezzanine Borrower. No provision of the Loan Documents or the Mezzanine Loan Documents shall create a debtor-creditor relationship between Borrower and either Mezzanine Agent or Mezzanine Lender. USActive 36631986.12 -134-
