Junior Mezzanine Loans definition
Examples of Junior Mezzanine Loans in a sentence
Notwithstanding the foregoing, Mezzanine Lender agrees that any "resizing" of the Mortgage Loan and the Loan shall not change the economics of the Mortgage Loan, Mezzanine Loan, Junior Mezzanine Loans and the Loan taken as a whole in a manner which is adverse to Mezzanine Borrower.
Section 2.4 of the applicable Mezzanine Loan Agreement shall be of no further force or effect and any such DPO Mezzanine Loan may not be prepaid, in whole or in part, at any time; provided that, each DPO Mezzanine Loan shall be deemed to be paid in full at such time as no Outstanding Junior Mezzanine Loans exist with respect to such DPO Mezzanine Loan in accordance with Section 6.1(b)(v) of this Agreement.
Provided that all conditions to the extension required to be satisfied as of the Extension Date (as set forth in this Section 2.6) are then satisfied, the extension shall become effective concurrently with the extension of the Senior Loans and Junior Mezzanine Loans (the “Extension Date”), subject however to the further satisfaction of all conditions to the extension required to be satisfied as of the Initial Maturity Date (as set forth in this Section 2.6).
As a condition precedent to any voluntary prepayment of a Loan, the principal amount of the Senior Loan and, provided no Event of Default has occurred and is continuing, the Junior Mezzanine Loans, shall be concurrently repaid pro rata based on the outstanding principal balance of the Loan, the Senior Loan, and the Junior Mezzanine Loan.