Common use of Equity Pledges Clause in Contracts

Equity Pledges. The pledge of ownership interests securing such Purchased Loan relates to all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lender.

Equity Pledges. The pledge of ownership interests securing such Purchased Mezzanine Loan relates to all or substantially all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lender.

Equity Pledges. The pledge of ownership interests securing such Purchased First Mezzanine Loan relates to all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lenderthe First Mezzanine Lender.

Equity Pledges. The With respect to each Purchased Loan which is a Mezzanine Loan only, the pledge of ownership interests securing such Purchased Loan relates to all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lender.

Equity Pledges. The With respect to each Purchased Loan which is an Eligible Mezzanine Loan only, the pledge of ownership interests securing such Purchased Loan relates to all encumbers 100% of the direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected as a first priority lien in favor of Seller as mezzanine lender.

Equity Pledges. The pledge of ownership interests securing such Purchased Mezzanine Loan has been fully perfected in favor of Borrower as mezzanine lender and, except as otherwise expressly contemplated in the definition of “Mezzanine Loan,” relates to all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, Borrower or as otherwise expressly contemplated in the definition of “Mezzanine Loan,” there are no direct or indirect equity or ownership interests in the underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lender).

Equity Pledges. The With respect to each Purchased Loan which is an Eligible Mezzanine Loan only, the pledge of ownership interests securing such Purchased Loan relates to all encumbers 100% of the direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully first priority perfected in favor of Seller as mezzanine lender.

Equity Pledges. The pledge of ownership interests securing such Purchased Mezzanine Loan relates to all or substantially all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lenderthe originator of the Mezzanine Loan ("Mezzanine Lender").

Equity Pledges. The With respect to each Purchased Loan which is an Eligible Mezzanine Loan only, the pledge of ownership interests securing such Purchased Loan relates to all encumbers the direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully first priority perfected in favor of Seller as mezzanine lender.

Equity Pledges. The pledge of ownership interests securing such -------------- Purchased Loan relates to all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of Seller as mezzanine lender.