Common use of Refinancing or Prepayment of the Mortgage Loan Clause in Contracts

Refinancing or Prepayment of the Mortgage Loan. Neither Borrower nor Mortgage Borrower shall be required to obtain the consent of Lender to refinance the Mortgage Loan, provided that the Loan shall have been (or shall simultaneously be) paid in full in accordance with the terms of this Agreement. Borrower shall cause Mortgage Borrower to obtain the prior written consent of Lender to enter into any other refinancing of the Mortgage Loan.

Appears in 6 contracts

Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

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Refinancing or Prepayment of the Mortgage Loan. Neither Borrower nor Mortgage Borrower shall be required to obtain the consent of Lender to refinance the Mortgage Loan, provided that the Loan shall have been (or shall simultaneously be) paid in full in accordance with the terms of this AgreementAgreement (including any prepayment premiums and other amounts due and payable to Lender under the Loan Documents). Borrower shall cause Mortgage Borrower to obtain the prior written consent of Lender to enter into any other refinancing of the Mortgage Loan.

Appears in 5 contracts

Samples: Mezzanine Loan Agreement (Meristar Hospitality Corp), Mezzanine Loan Agreement (Capital Lodging), Mezzanine Loan Agreement (Meristar Hospitality Operating Partnership Lp)

Refinancing or Prepayment of the Mortgage Loan. Neither Borrower Pledgor nor Mortgage Borrower shall be required to obtain the consent of Lender to refinance the Mortgage Loan, provided that the Loan shall have been (or shall simultaneously be) been paid in full in accordance with the terms of this AgreementAgreement (including any prepayment premiums and other amounts due and payable to Lender under the Loan Documents). Borrower Pledgor shall cause Mortgage Borrower to obtain the prior written consent of Lender to enter into any other refinancing of the Mortgage Loan.

Appears in 3 contracts

Samples: Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.), Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)

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Refinancing or Prepayment of the Mortgage Loan. Neither Borrower nor Mortgage Borrower shall be required to obtain the consent of Lender to refinance the Mortgage Loan, provided that the Loan Obligations shall have been (or shall simultaneously be) been paid in full in accordance with the terms of this Agreement. Borrower shall cause Mortgage Borrower Agreement (including any Exit Fee, prepayment payments and other amounts due and payable to obtain Lender under the prior written consent of Lender to enter into any other refinancing of the Mortgage LoanLoan Documents).

Appears in 1 contract

Samples: Mezzanine Loan Agreement

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