Common use of Mortgage Lender Notification and Consent Clause in Contracts

Mortgage Lender Notification and Consent. Following the acquisition of all of the Mezzanine Loans in accordance with the Loan Purchase Agreements, CalSTRS, CNP Investor and TPG shall cooperate in notifying Mortgage Lender that (i) CNP Investor has acquired the Mezzanine Loans using purchase funds consisting of new cash equity funds of CalSTRS which were not derived directly or indirectly from the Project, and (ii) CNP Investor has waived and relinquished, for the benefit of Mortgage Lender, certain rights of the Mezzanine Lenders under the Intercreditor Agreement. Further, each of CalSTRS, CNP Investor and TPG shall use commercially reasonable efforts to obtain from Mortgage Lender its written (A) acknowledgment of the foregoing, (B) consent to the retirement of the Mezzanine Loans, without any prepayment of the Mortgage Loan or other material condition to such consent, and (C) acknowledgment that upon the retirement of the Mezzanine Loans, the Intercreditor Agreement will be terminated as provided therein (collectively, the “Mortgage Lender Consent”).