EPR Senior Property Loan definition

EPR Senior Property Loan means a first priority mortgage loan made to the owner of any real estate and improvements thereon.
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Examples of EPR Senior Property Loan in a sentence

  • Collectively, a promissory note from an EPR Mortgagor to Borrower-SPE, the EPR Senior First Mortgage serving as collateral for said note, along with any related assignment of leases and rents from said EPR Mortgagor to Borrower-SPE and any other documents or instruments delivered to Borrower-SPE evidencing or securing a EPR Senior Property Loan.

  • Insurance certificates which comply with the terms of the applicable Leases or EPR Senior Property Loan Documents, as the case may be, approved by Agent shall be deemed acceptable to Agent and Lenders.

  • This term may also refer to such loan documents evidencing more than one EPR Senior Property Loan.

  • Notwithstanding anything in this §7.8 to the contrary, insofar as this §7.8 permits the Borrower to shift any duty of the Borrower under this §7.8 to a Tenant, the Borrower may likewise shift such duty to an EPR Mortgagor to the extent the Borrower has the right under the applicable EPR Senior Property Loan Documents to do so; and, likewise, references in this §7.8 permitting a Tenant to contest taxes or the like shall apply with the same force and effect to an EPR Mortgagor.

  • A party which borrows pursuant to the terms of an EPR Senior Property Loan, which such loan is secured by an EPR Senior First Mortgage and is otherwise evidenced by the EPR Senior Property Loan Documents.

  • Insofar as Unencumbered Property consists of Eligible Real Estate that is subject to an EPR Senior First Mortgage, the term “Unencumbered Property” shall be deemed to refer to such Eligible Real Estate or the related EPR Senior Property Loan, as the context may require.

  • Except as set forth in Schedule 6.31, the EPR Senior First Mortgages reflected therein are, as of the date of inclusion of the applicable Borrowing Base Property as a Borrowing Base Property, (i) in full force and effect in accordance with their terms, (ii) without any payment default or any other material default under any EPR Senior Property Loan, and (iii) without any defenses, counterclaims or offsets available to any mortgagor thereunder.

  • Insofar as Borrowing Base Property consists of Eligible Real Estate that is subject to an EPR Senior First Mortgage, the term “Borrowing Base Property” shall be deemed to refer to such Eligible Real Estate or the related EPR Senior Property Loan, as the context may require.

  • The Borrower has delivered to the Agent (i) true copies of the EPR Senior First Mortgages relating to each applicable Borrowing Base Property and (ii) an accurate and complete schedule of payments (the “EPR Senior Loan Payment Schedule”) due under each EPR Senior Property Loan relating to each applicable Borrowing Base Property as of the date of inclusion of each Borrowing Base Property as a Borrowing Base Property.

  • This §7.6(b) shall be subject, however, to any provisions in the applicable Leases or EPR Senior Property Loan Documents which restrict Borrower or any applicable Subsidiaries from making any such repairs or replacements or the like or which impose such duties instead on the tenant or mortgagor, as applicable.

Related to EPR Senior Property Loan

  • Permitted Junior Priority Refinancing Debt means secured Indebtedness incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or debentures or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and any other First Lien Obligations and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement Refinancing Indebtedness” (provided that such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and any other First Lien Obligations, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness”), (iii) the holders of such Indebtedness (or their representative) and the Administrative Agent and/or the Collateral Agent shall be party to a Customary Intercreditor Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiaries of the Borrower other than Subsidiaries that are Guarantors.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Term SOFR Loan means a Committed Loan that bears interest at a rate based on clause (a) of the definition of Term SOFR.