Affiliate Holder definition
Examples of Affiliate Holder in a sentence
Any such Borrower Affiliate Holder shall, however, retain the right to receive any and all amounts payable on account of its Note under this Agreement other than any default interest or late fees or charges.
Notwithstanding anything to the contrary contained herein, each Holder hereby covenants and agrees that if it shall become a Borrower Affiliate Holder, it shall not interfere with the foreclosure rights or the exercise of any other remedies asserted by, or on behalf of, the Holders that are not Borrower Affiliate Holders.
For example, in the event there are five Holders, each with a 20% Percentage Interest, and one of those Holders becomes a Borrower Affiliate Holder, for voting purposes going forward, each non-affiliated Holder shall be deemed to have a percentage interest of 25%.
In the case of clause (i) above, each Holder other than a Borrower Affiliate Holder shall have their aggregate Percentage Interest in the Mezzanine Loan “grossed up” on account of the Borrower Affiliate Holder’s Percentage Interest in the Mezzanine Loan for the purposes of calculating a Majority Decision, a Super-Majority Decision, or a Unanimous Decision and for all other related purposes hereunder.
Notwithstanding anything to the contrary herein, (i) in respect of any monetary cure, in the event that no Holder that is not a Borrower Affiliate Holder elects to be a Curing Holder in accordance with this Section 4(c), and (ii) in respect of any non-monetary cure, the Borrower Affiliate Holder shall not be permitted to be a Curing Holder and any attempt to exercise its right to cure hereunder shall be void.