Common use of Payment of Mezzanine Debt Service Clause in Contracts

Payment of Mezzanine Debt Service. In the event that a permitted Mezzanine Financing under Section 2.15 has occurred, at or before 12:00 noon, New York City time, on each Payment Date during the term of the Loan, Lender shall transfer to Mezzanine Lender’s account from the Mezzanine Debt Service Payment Sub-Account an amount equal to the Mezzanine Debt Service for the applicable payment date.

Payment of Mezzanine Debt Service. In the event that a permitted Mezzanine Financing under Section 2.15 has occurred, at or before 12:00 noon, New York City time, on each Payment Date during the term of the Loan, Lender shall transfer to Mezzanine Lender’s 's account from the Mezzanine Debt Service Payment Sub-Account an amount equal to the Mezzanine Debt Service for the applicable payment date.