Equity Collateral Enforcement Action shall have the meaning set forth in Section in Section 13.1 hereof.
Equity Collateral Enforcement Action means any action or proceeding or other exercise of a Mezzanine Lender’s rights and remedies commenced by such Mezzanine Lender (other than the giving of notices of default and statements of overdue amounts), in law or in equity, or otherwise, in order to realize upon the Equity Collateral, in whole or in part, or any transaction, whether in the nature of a transfer in lieu of foreclosure or otherwise, in order to acquire the Equity Collateral, in whole or in part.
Equity Collateral Enforcement Action means any action or proceeding or other exercise of a Junior Lender’s rights and remedies commenced by such Junior Lender, in law or in equity, or otherwise, in order to realize upon the Equity Collateral (including, without limitation, an assignment in lieu of foreclosure or other negotiated settlement in lieu of any such enforcement action) other than the giving of notices of default and statements of overdue amounts.
Examples of Equity Collateral Enforcement Action in a sentence
Each Junior Lender shall keep the applicable Subordinate Junior Lenders reasonably apprised as to the status of any Equity Collateral Enforcement Action.
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Notwithstanding any contrary or inconsistent provision of this Agreement, the Senior Loan Documents or the Mezzanine Loan Documents, no acquisition or other fee or similar charge shall be due in connection with such Qualified Transferee’s acquisition of any interest in Borrower, any Mezzanine Borrower or the Premises as the result of an Equity Collateral Enforcement Action or assignment in lieu of foreclosure or other negotiated settlement in lieu of any of the foregoing.
If Landlord under the Ground Lease consents to an Equity Collateral Enforcement Action (as defined in the Ground Lease) that is a foreclosure on the Mezzanine Interests (as defined in the Ground Lease) in accordance with the Ground Lease, then the City shall be deemed to have consented to an Equity Collateral Enforcement Action that is a foreclosure on the Mezzanine Interest.
More Definitions of Equity Collateral Enforcement Action
Equity Collateral Enforcement Action means any action or proceeding or other exercise of a Permitted Mezzanine Lender's rights and remedies in connection with its security interests in the Pledgor in order to realize upon its equity collateral, including, without limitation, the acceptance of an assignment in lieu of foreclosure for the equity collateral. With respect to any Permitted Equity Encumbrance, (a) the granting of such Permitted Equity Encumbrance by Landlord shall not be deemed a Change of Control of Tenant, (b) any enforcement action and/or the completion of any Equity Collateral Enforcement Action (including, without limitation, the acquisition of all (or substantially all) of the direct or indirect ownership of Tenant) or the exercise of voting control over Tenant by a Permitted Mezzanine Lender with respect to such equity collateral security interest shall not be deemed a Change of Control of Tenant and shall not be prohibited by this Lease, (c) the Permitted Mezzanine Lender shall have the same cure rights and notice rights as are given to any other Permitted Lender under this Article 10, but such periods for the notice rights and cure rights shall run concurrently with the rights provided to the Permitted Mortgage Lender, and (d) in the case of MICC only, MICC shall have the same rights, including the same cure rights and the same notice rights, as are given to any other Permitted Lender under this Article 10, but such periods for notice rights and cure rights shall run concurrently with the rights provided to the Permitted Mortgage Lender.
Equity Collateral Enforcement Action means any action, proceeding, demand for payment, foreclosure, the taking of a xxxx of sale or assignment in lieu of any proceeding or foreclosure or any retention of title to the Equity Collateral authorized under the Uniform Commercial Code as now or hereafter in effect, including, without limitation, obtaining the appointment of a receiver or similar agent with respect to the Equity Collateral, the taking of possession or control of Equity Collateral or any portion thereof (other than the physical possession of any certificates evidencing Equity Collateral) or other exercise of a Junior Lender’s rights and remedies commenced by such Junior Lender (other than the giving of notices of default and statements of overdue balances or imposing default interest or late charges), at law, in equity, or otherwise, in order to realize upon or vest title to the Equity Collateral (including, without limitation, an assignment in lieu of foreclosure or other final negotiated settlement in lieu of any such enforcement action) in Junior Lender free and clear of any lien or security interest, or otherwise obtaining, selling or transferring the Equity Collateral or the proceeds thereof.
Equity Collateral Enforcement Action means any action, proceeding, demand for payment, foreclosure, the taking of a bill of sale or assignment in lieu of any proceeding or foreclosure or any retention of title to the Equity Collateral authorized under the Uniform Commercial Code as now or hereafter in effect, including, without limitation, obtaining the appointment of a receiver or similar agent with respect to the Equity Collateral, the taking of possession or control of Equity Collateral or any portion thereof (other than the physical possession of any certificates evidencing Equity Collateral) or other exercise of a Junior Lender’s rights and remedies commenced by such Junior Lender (other than (x) the giving of notices of default and statements of overdue balances, (y) imposing default interest or late charges, or (z) subject to and in accordance with the provisions of this Agreement, the filing of a proof of claim by a Junior Lender in a Proceeding with respect to the applicable Junior Borrower), at law, in equity, or otherwise, in order to realize upon or vest title to the Equity Collateral (including, without limitation, an assignment in lieu of foreclosure or other final negotiated settlement in lieu of any such enforcement action) in Junior Lender free and clear of any lien or security interest, or otherwise obtaining, selling or transferring the Equity Collateral or the proceeds thereof.
Equity Collateral Enforcement Action means any action or proceeding or other exercise of a Permitted Mezzanine Lender's rights and remedies in connection with its security interests in (or from) a Pledgor in order to realize upon its equity collateral, including, without limitation, the acceptance of an assignment in lieu of foreclosure for the equity collateral. With respect to any Permitted Equity Financing Encumbrance, (a) the granting of such Permitted Equity Financing Encumbrance shall not be deemed a Change of Control of RIDA, or (b) any enforcement action and/or the completion of any Equity Collateral Enforcement Action (including, without limitation, the acquisition of all (or substantially all) of the direct or indirect ownership of RIDA) or the exercise of voting control over RIDA by a Permitted Mezzanine Lender with respect to such equity collateral security interest shall not be deemed a Change of Control of RIDA and shall not be prohibited by this Sublease.
Equity Collateral Enforcement Action has the meaning set forth in Section 9.3.3(k) hereof.
Equity Collateral Enforcement Action means any action or proceeding or other exercise of a Junior Lender’s rights and remedies commenced by such Junior Lender, in law or in equity, or otherwise, in order to realize upon the Equity Collateral, in whole or in part, or any transaction, whether in the nature of a transfer in lieu of foreclosure or otherwise, in order to acquire the Equity Collateral, in whole or in part, other than the giving of notices of default, the giving of statements of overdue amounts, or the giving of notices of such Junior Lender’s reservation of rights, imposition of late charges or default interest.
Equity Collateral Enforcement Action means any UCC foreclosure, assignment-in-lieu of foreclosure, “strict foreclosure” under the UCC, exercise of voting rights under the Pledge Agreement or other action to acquire or exercise Control over the Pledged Equity Interests.