A/B Co-Lender Agreement Sample Contracts
A/B CO-LENDER AGREEMENT Dated as of March 2, 2020 among GRASS RIVER WAREHOUSE FACILITY ENTITY TWO, LLC as Initial Administrative Agent GRASS RIVER WAREHOUSE FACILITY ENTITY TWO, LLC as Initial Note-A Holder and GRASS RIVER WAREHOUSE FACILITY ENTITY...A/B Co-Lender Agreement • March 30th, 2020 • CSAIL 2020-C19 Commercial Mortgage Trust • Asset-backed securities • New York
THIS A/B CO-LENDER AGREEMENT dated as of March 2, 2020 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), is made among (i) GRASS RIVER WAREHOUSE FACILITY ENTITY TWO, LLC, a Delaware limited liability company having a place of business at 2977 McFarlane Road, Suite 300, Coconut Grove, Florida 33133, Attention: Legal Department, in its capacity as administrative agent (in such capacity, “Initial Administrative Agent”), (ii) GRASS RIVER WAREHOUSE FACILITY ENTITY TWO, LLC, a Delaware limited liability company having a place of business at 2977 McFarlane Road, Suite 300, Coconut Grove, Florida 33133, Attention: Legal Department, as the initial Note-A Holder (in such capacity, “Initial Note-A Holder”), and (iii) GRASS RIVER WAREHOUSE FACILITY ENTITY TWO, LLC, a Delaware limited liability company having a place of business at 2977 McFarlane Road, Suite 300, Coconut Grove, Florida 33133, Attention: Legal Department, as the initial Note-B
Standard Contracts
CMBS 2.0: Has the time come for an industry-form A/B Colender? June 2, 2011 by Matthew ClarkA/B Co-Lender Agreement • June 2nd, 2011
Early last decade, two Dechert partners, Tim Stafford and Dave Forti, published Mezzanine Debt: Suggested Standard Form of Intercreditor Agreement (pdf) in CMBS World. The article proposed a standard form of mortgage-mezzanine intercreditor that provided a portion of the bedrock upon which the architecture of CRE mezzanine lending would be built for the years to follow. At the time of its publication, burgeoning demand for mezzanine debt (and mezz lenders' desire to create liquidity in their positions) had created a tension among mezz lenders, bond investors and rating agencies - the absence of a form ICA resulted in mezz debt being an inconsistent and pricey financing alternative. The CMSA (now CREFC) form ICA made mezz lending more predictable, less expensive and easier to trade.
