First Mezzanine Lender Clause Samples
The 'First Mezzanine Lender' clause defines the party that holds the primary mezzanine loan position in a financing structure, ranking just below the senior lender but above other mezzanine or subordinate lenders. This clause typically specifies the rights, obligations, and priority of repayment for the first mezzanine lender, often including provisions for intercreditor agreements and enforcement rights in the event of borrower default. Its core practical function is to clearly establish the hierarchy among lenders, thereby reducing disputes and ensuring an orderly process for repayment and enforcement actions.
First Mezzanine Lender. First Mezzanine Lender (but not any transferee, successor or assign of First Mezzanine Lender) hereby represents and warrants as follows:
(i) Exhibit B attached hereto and made a part hereof is a true and correct listing of all material First Mezzanine Loan Documents (including all amendments, modifications, replacements, restatements and supplements thereof) as of the date hereof. To First Mezzanine Lender’s knowledge, there currently exists no default or event which, with the giving of notice or the lapse of time, or both, would constitute a default under the First Mezzanine Loan Documents.
(ii) First Mezzanine Lender and the other First Mezzanine Noteholders are the legal and beneficial owners of the entire First Mezzanine Loan free and clear of any lien, security interest, option or other charge or encumbrance, other than any lien or security interest granted to any Loan Pledgee (as hereinafter defined) as contemplated by the provisions of Section 16.
(iii) The First Mezzanine Loan is not cross-defaulted with any loan other than the Senior Loan. The Premises do not secure any loan from First Mezzanine Lender to First Mezzanine Borrower or any other Affiliate of Senior Borrower.
First Mezzanine Lender. Each Person that holds a First Mezzanine Note (for itself, and not for any transferee, successor or assign of such Person) hereby represents and warrants as follows:
(i) To such Person’s knowledge, Exhibit B attached hereto and made a part hereof is a true, correct and complete listing of all material First Mezzanine Loan Documents (including all amendments, modifications, replacements, restatements and supplements thereof) as of the date hereof.
(ii) Such Person is the legal and beneficial owner of its First Mezzanine Note free and clear of any lien, security interest, option or other charge or encumbrance, other than any lien or security interest granted to any Loan Pledgee as contemplated by the provisions of Section 16.
(iii) To such Person’s knowledge, the First Mezzanine Loan is not cross-defaulted with any loan other than the Senior Loan. To such Person’s knowledge, the Premises do not secure any loan from such Person to First Mezzanine Borrower or any other Affiliate of First Mezzanine Borrower. The First Mezzanine Loan does not constitute or impose, and shall not be deemed or construed as constituting or imposing now or hereafter, a lien or encumbrance upon, or security interest in, any portion of the Separate Collateral securing any Junior Loan other than the First Mezzanine Loan.
First Mezzanine Lender. As of June 19, 2007, Column Financial, Inc., as First Mezzanine Lender under the Refinancing Intercreditor Agreement, represented and warranted as follows (and all references to “the date hereof” in this Section 4(c) refer to June 19, 2007):
(i) Exhibit B attached hereto and made a part hereof is a true, correct and complete listing of all of the First Mezzanine Loan Documents as of the date hereof. As of the date hereof, the outstanding principal balance of the First Mezzanine Loan is $42,000,000.00 and interest has been paid through July 8, 2007. First Mezzanine Lender has not given notice to First Mezzanine Borrower of any default or Event of Default under the First Mezzanine Loan Documents that has not been cured.
(ii) First Mezzanine Lender is the legal and beneficial owner of the entire First Mezzanine Loan free and clear of any lien, security interest, option or other charge or encumbrance, other than any lien or security interest granted to any Loan Pledgee as contemplated by the provisions of Section 16.
(iii) The First Mezzanine Loan is not cross-defaulted with any loan other than the Senior Loan. The Separate Collateral granted to First Mezzanine Lender does not secure any loan from First Mezzanine Lender to Borrower or Second Mezzanine Borrower or any Affiliate of Borrower or Second Mezzanine Borrower other than the First Mezzanine Loan and neither the Premises nor the Separate Collateral pledged to Second Mezzanine Lender directly secure any loan from First Mezzanine Lender to First Mezzanine Borrower.
First Mezzanine Lender. First Mezzanine Lender hereby represents and warrants as follows:
(i) Exhibit B attached hereto and made a part hereof is a true, correct and complete listing of all of the First Mezzanine Loan Documents (including all amendments, modifications, replacements, restatements and supplements thereof) as of the date hereof. To First Mezzanine Lender’s knowledge, there currently exists no default or event which, with the giving of notice or the lapse of time, or both, would constitute a default under the First Mezzanine Loan Documents.
(ii) First Mezzanine Lender is the legal and beneficial owner of the entire First Mezzanine Loan free and clear of any lien, security interest, option or other charge or encumbrance, other than any lien or security interest granted to any Loan Pledgee as contemplated by the provisions of Section 16 hereof.
(iii) The First Mezzanine Loan is not cross-defaulted with any loan other than the Senior Loan. The Premises do not secure any loan from First Mezzanine Lender to First Mezzanine Borrower or any other Affiliate of Borrower.
First Mezzanine Lender. First Mezzanine Lender (but not any transferee, successor or assign of First Mezzanine Lender) hereby represents and warrants as follows:
(i) Exhibit B attached hereto and made a part hereof is a true and correct listing of all material First Mezzanine Loan Documents (including all amendments, modifications, replacements, restatements and supplements thereof) as of the date