Pledge of Interests. If a Borrower or any of its Subsidiaries acquires any Real Property or any direct or indirect beneficial interest in any entity which owns Real Property and in connection with the acquisition of such Real Property grants any mortgage interest under the Senior Loan, Administrative Agent shall be granted a Pledged Interest therein, subject to such limitations as may be imposed under the Senior Loan.
Appears in 3 contracts
Samples: Loan Modification Agreement (NexPoint Residential Trust, Inc.), Revolving Credit Agreement (NexPoint Residential Trust, Inc.), Revolving Credit Agreement (NexPoint Residential Trust, Inc.)
Pledge of Interests. If a Borrower or any of its Subsidiaries acquires any Real Property or any direct or indirect beneficial interest in any entity which owns Real Property and in connection with the acquisition of such Real Property grants any mortgage interest under the Senior LoanProperty, Administrative Agent shall be granted a Pledged Interest therein, subject to such limitations as may be imposed under the Senior Loanby any first mortgage lender with respect to such Real Property.
Appears in 1 contract
Samples: Revolving Credit Agreement (Nexpoint Multifamily Capital Trust, Inc.)
