Permitted Mezzanine Indebtedness. Notwithstanding anything the contrary contained in this Agreement, a “Permitted Transfer” shall also include Transfers in the nature of a pledge by a Mezzanine Borrower (as defined below) of its direct and/or indirect Equity Interest in Borrower and SPE Equity Owner (but not of any direct interest in the Individual Property) to a Permitted Mezzanine Lender as security for a loan to such Mezzanine Borrower (a “Mezzanine Loan”) provided that the following terms and conditions are satisfied:
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Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Permitted Mezzanine Indebtedness. Notwithstanding anything the contrary contained in this Agreement, a “Permitted Equity Transfer” shall also include Transfers in the nature of a pledge by a Mezzanine Borrower (as defined below) of its direct and/or indirect Equity Interest equity interest in Borrower and SPE Equity any Owner or Fee Owner (but not of any direct interest in the Individual any Borrowers or any Collateral Property) to a Permitted Mezzanine Lender as security for a loan to such Mezzanine Borrower (a “Permitted Future Mezzanine Loan”) provided that the following terms and conditions are satisfied:
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