Section 14 or Section 16 Sample Clauses

Section 14 or Section 16. Each transferee of a direct interest in a Junior Loan (for the avoidance of doubt, excluding participants and Loan Pledgees (prior to its realization on the pledged Junior Loan) and other than in connection with a Mezzanine Securitization, provided the Transfer pursuant to such Mezzanine Securitization is made subject to this Agreement) must assume in writing the obligations of the applicable Junior Lender hereunder from and after the date of such Transfer and (except in connection with a Mezzanine Securitization) agree to be bound by the terms and provisions hereof (and in such event the transferring Person or Persons shall be released from obligations hereunder accruing after the date of such assumption with respect to the transferred interest). Notwithstanding any such Transfer or subsequent Transfer by a transferee of a Junior Lender, each Senior Junior Loan and the Senior Junior Loan Documents shall be and remain a senior obligation in the respects set forth in this Agreement to the applicable Subordinate Junior Loan and the Subordinate Junior Loan Documents in accordance with the terms and provisions of this Agreement. Each transferee (other than (I) a Loan Pledgee (prior to its realization on the pledged Junior Loan), (II) a participant in connection with a participation of a portion of the applicable Junior Loan, (III) the Qualified Trustee of a Mezzanine Securitization Trust, or (IV) any purchaser of Mezzanine Certificates) shall also remake for the benefit of Senior Lender and the other Junior Lenders each of the representations and warranties contained herein made by the transferring Junior Lender as of the date of Transfer (except those made in Section 4(c)(ii), Section 4(d)(ii), or Section 4(e)(ii), as applicable, unless such transferee assumes the entire applicable Junior Loan, and in the case of a transferee that holds, in the aggregate after giving effect to such Transfer, less than forty-nine percent (49%) of the aggregate interests in the applicable Junior Loan, the representation and warranty in Section 4(c)(iv), Section 4(d)(iv), or Section 4(e)(iv), as applicable,) and provided that (A) those made in the first sentence of Section 4(c)(i), Section 4(d)(i), or Section 4(e)(i), respectively, may be qualified to such transferee’s knowledge and (B) to the extent those made in Section 4(b)(iv) and Section 4(b)(v) refer to the execution and delivery of this Agreement, shall be deemed to refer to the execution and delivery of each document or ...