Junior Mezz Loan definition

Junior Mezz Loan means the Loan, as defined in the Junior Mezz Loan Agreement.
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Junior Mezz Loan means that certain mezzanine loan secured by 100% of the direct or indirect equity interests in Borrower.
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Junior Mezz Loan means a consolidated mezzanine facility in the original principal amount of $82 million made by the Original Lender to GVS Portfolio I B, LLC, which is now held by the Junior Mezz Lender.
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Examples of Junior Mezz Loan in a sentence

  • Any permitted buyer, assignee or transferee shall thereupon become the holder of the sold, transferred and assigned interest in the Junior Mezz Loan, subject to all of the terms and provisions of this Agreement.

  • The rights of Loan Pledgee under this Section 14 shall remain effective unless and until Loan Pledgee shall have notified the Lender or Participant, as applicable, in writing that its interest in the other party’s interest in the Junior Mezz Loan has terminated.

  • Notwithstanding the foregoing, Lender and Participant shall each have the right to assign and transfer its respective interest in the Junior Mezz Loan or any part thereof to their respective Affiliate(s) without the consent or approval of the other party and without the application of the provisions set forth in paragraphs (b)-(d) inclusive of this Section 13.

  • Subject to Section 9 above, each of Lender and Participant, and any of their respective Affiliates, may engage in any kind of business with Project Owner, Junior Mezz Borrower, Senior Mezz Borrower, Guarantor or any principals, partners, shareholders, officers, directors and Affiliates thereof, notwithstanding the existence of the Junior Mezz Loan or this Agreement.

  • Participant’s ownership of its Participation Interest shall not, and shall not be deemed to, give Participant privity of contract with Junior Mezz Borrower or with any party to any of the Junior Mezz Loan Documents other than Lender.

  • Lender shall hold the executed originals of all of the Junior Mezz Loan Documents for the benefit of the Lender and Participant and shall, upon request, furnish to Participant a copy of such Junior Mezz Loan Documents.

  • Subject to the Intercreditor Agreements, all of the Escrows shall be retained by Lender or any Servicer in accordance with and pursuant to the Junior Mezz Loan Agreement and Lender may, in its sole and absolute discretion (but pursuant to the Junior Mezz Loan Documents), apply the Escrows on account of the charges for which same were collected as and when such charges become due and payable.

  • If Junior Mezz Borrower has not remitted the amount of such Costs as set forth in the Junior Mezz Loan Documents to Lender within the time that Junior Mezz Borrower is required to do so, Participant shall, promptly upon request by Lender (which shall include a statement of such Costs in reasonable detail), pay to Lender its respective pro rata share of such Costs (based on Participant’s Percentage Interest).

  • This Agreement shall not be deemed to represent a pledge of any interest in the Junior Mezz Loan or in any collateral therefor, or a loan from Participant to Lender.

  • Without limiting the foregoing, Participant hereby waives any provisions of any applicable law that would purport to give Participant any right to enforce the Junior Mezz Loan Documents; any right to partition the Property, the Junior Mezz Loan or any collateral therefor; or any right to convey its Participation Interest; in each case except as expressly set forth in this Agreement.

Related to Junior Mezz Loan

  • Junior Loan has the meaning provided in the Recitals hereto.

  • 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.

  • Permitted Junior Secured Refinancing Debt means any secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of second-lien (or other junior lien) secured notes or second-lien (or other junior lien) secured loans; provided that (i) such Indebtedness (x) is secured by the Collateral on a second-priority (or other junior priority) basis with the Obligations and (y) is not secured by any property or assets of the Borrower or any Subsidiary other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness, (iii) such Indebtedness does not mature, have a shorter Weighted Average Life to Maturity than, or have scheduled amortization or scheduled payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligation (other than customary offers to repurchase upon a change of control, asset sale or casualty event and customary acceleration rights after an event of default), prior to the date that is 91 days after the Latest Maturity Date at the time such Indebtedness is incurred, (iv) such Indebtedness is not guaranteed by any Subsidiaries other than the Subsidiary Guarantors, (v) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise be subject to the provisions of one or more intercreditor agreements reasonably satisfactory to the Administrative Agent and (vi) any mandatory or voluntary prepayments of Permitted Junior Secured Refinancing Debt may not be made except to the extent that prepayments of the Term Loans and Permitted Pari Passu Secured Refinancing Debt are first made ratably, to the extent required hereunder or pursuant to the terms of such Permitted Pari Passu Secured Refinancing Debt, as the case may be. Permitted Junior Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Bridge Loan Any loan or other obligation that (x) is incurred in connection with a merger, acquisition, consolidation, or sale of all or substantially all of the assets of a Person or similar transaction and (y) by its terms, is required to be repaid within one year of the incurrence thereof with proceeds from additional borrowings or other refinancings (it being understood that any such loan or debt security that has a nominal maturity date of one year or less from the incurrence thereof but has a term-out or other provision whereby (automatically or at the sole option of the Obligor thereof) the maturity of the indebtedness thereunder may be extended to a later date is not a Bridge Loan).