CNP Investor definition
Examples of CNP Investor in a sentence
Nothing in this Section 7.3 shall affect the rights of CNP Investor and CalSTRS as Lender.
The TPG Parties will be benefited by CNP Investor acquiring the Mezzanine Loans and by the Conversion and that such benefit constitutes actual and adequate consideration for this Agreement.
Further, each of CalSTRS, CNP Investor and TPG shall use commercially reasonable efforts to obtain from Mortgage Lender its written (A) acknowledgment of the foregoing, (B) consent to the retirement of the Mezzanine Loans, without any prepayment of the Mortgage Loan or other material condition to such consent, and (C) acknowledgment that upon the retirement of the Mezzanine Loans, the Intercreditor Agreement will be terminated as provided therein (collectively, the “Mortgage Lender Consent”).
In the event of any acquisition of the Mortgage Loan by CalSTRS, CNP Investor or any of their Affiliates, the provisions of this Article VII shall apply equally to the Mortgage Loan, with CalSTRS, CNP Investor or such Affiliate as the “CalSTRS Lender” and CalSTRS, CNP Investor or such Affiliate as a “CalSTRS Member” of a TPG Related Party for purposes of this Article VII.
CNP Investor, as described above, has entered into the Loan Purchase Agreements with respect to the Mezzanine Loans.
As part of the CalSTRS Matters, CalSTRS Counsel will represent CalSTRS in its capacity as the owner of CNP Investor in connection with the acquisition of the Mezzanine Loans and the enforcement of the Lender’s rights and remedies under the Mezzanine Loan Documents, including without limitation, if necessary, the appointment of a receiver and foreclosure.
Notwithstanding the foregoing and without in any way limiting the provisions of Section 7.1, TPG and the other TPG Parties agree that CalSTRS, CNP Investor and their Affiliates shall be free to acquire the Mortgage Loan as if it were a third party not in any way related to the TPG Parties, at par, at a discount or on any terms, upon the maturity of the Mortgage Loan (whether scheduled or accelerated).
TPG and the other TPG Parties acknowledge that CalSTRS and CNP Investor will be relying upon the provisions of this Article VII in acquiring the Mezzanine Loans and that, but for this Article VII and the other provisions set forth in this Agreement, CNP Investor would not acquire, and CalSTRS would not cause CNP Investor to acquire, the Mezzanine Loans.
Notwithstanding the foregoing, the Parties hereto agree that CalSTRS, CNP Investor or any applicable Affiliate will convert the Mortgage Loan into an equity interest in the Project commensurate on a dollar-for-dollar basis with the then-outstanding principal, interest and other payments due under the Mortgage Loan in a manner similar to, and on substantially the same terms as, the Conversion contemplated herein.
Nothing in this Section 8.18 shall prohibit CalSTRS Counsel from representing TPG/CalSTRS and the Title Holding Subsidiaries with respect to the ownership and operation of the Project and, with the sole exception of the Mezzanine Loans during the period when CNP Investor owns the Mezzanine Loans, its financing.