Lender Interest Rate Protection Agreement means any Interest Rate Protection Agreement to which Borrower and Agent, a Lender or any Affiliate of Agent or any Lender are parties in the event that Borrower and Agent, a Lender or an Lender’s Affiliate of Agent or any Lender elect to enter into an Interest Rate Protection Agreement. Borrower’s performance of its obligations pursuant to any Lender Interest Rate Protection Agreement is secured by the Collateral.
Lender Interest Rate Protection Agreement means any Interest Rate Protection Agreement entered into by Borrower with Lender or an Affiliate of Lender as Counterparty, and only for so long as such Counterparty remains Lender (or an Affiliate of Lender).
Lender Interest Rate Protection Agreement the term “Lender” shall also include any counterparty to an Interest Rate Protection Agreement that was a Lender at the time such Interest Rate Protection Agreement was entered into and any Affiliate of a Lender which enters into a Interest Rate Protection Agreement which expressly relates to the Indebtedness evidenced by this Agreement and the Loan Documents.
Examples of Lender Interest Rate Protection Agreement in a sentence
In the event that Agent shall elect to enter into an Interest Rate Protection Agreement on Borrower’s behalf, such Interest Rate Protection Agreement, at Agent’s election, may be a Lender Interest Rate Protection Agreement.
Borrower shall pay Additional Interest as and when provided herein, and in the event any Lender Interest Rate Protection Agreement is in effect, in such Lender Interest Rate Protection Agreement by Borrower as the counterparty thereunder.
In the event that Agent shall elect to enter into an Interest Rate Protection Agreement on Borrower’s behalf after the above described notice and cure period, such Interest Rate Protection Agreement, at Agent’s election, may be a Lender Interest Rate Protection Agreement; provided that such Lender Interest Rate Protection Agreement contains commercially reasonable terms consistent with an arms-length transaction comparable to the transaction which is the subject of this Loan Agreement.
No Interest Rate Protection Agreement shall be secured by all or any portion of the Collateral unless it is a Lender Interest Rate Protection Agreement, in which case such Lender Interest Rate Protection Agreement shall be secured pari passu with the other sums secured by the Mortgage and other Security Documents.
Any obligation owed to a Lender under a Lender Interest Rate Protection Agreement shall rank pari passu with the Obligations under the Loan Documents up to an amount equal to the Termination Value (as determined by the Administrative Agent) of that Lender Interest Rate Protection Agreement, and shall be subordinate to the Obligations under other Loan Documents to the extent of any excess over such amount.
More Definitions of Lender Interest Rate Protection Agreement
Lender Interest Rate Protection Agreement means any Interest Rate Protection Agreement to which Borrower and PB Capital Corporation (and its successors or assigns) or any Affiliate of PB Capital Corporation (and its successors or assigns) are parties in the event that Borrower and PB Capital Corporation (and its successors or assigns) or its Affiliate elect to enter into an Interest Rate Protection Agreement. Borrower’s performance of its obligations pursuant to any Lender Interest Rate Protection Agreement is secured by the Collateral.
Lender Interest Rate Protection Agreement means the Initial Interest Rate Protection Agreement and any other Interest Rate Protection Agreement to which (a) any Borrower and Agent or any Affiliate of Agent are parties in the event that such Borrower and Agent or such Agent’s Affiliate elect to enter into an Interest Rate Protection Agreement or (b) if Agent or such Agent’s Affiliate shall have elected not to enter into an Interest Rate Protection Agreement then, with the consent of Agent, any Borrower and any Lender or any Affiliate of any Lender are parties in the event that such Borrower and such Lender or such Lender’s Affiliate elect to enter into an Interest Rate Protection Agreement.
Lender Interest Rate Protection Agreement has the meaning assigned in Section 2.8(d).
Lender Interest Rate Protection Agreement shall be secured pari passu by the Deed of Trust and other collateral for the Loan and any payments due thereunder shall be payable pari passu with Loan as set forth in Section 2.3(e), and all sums which may become due and payable by Borrower to the counterparty thereunder, in accordance with the terms and provisions of such Interest Rate Protection Agreement, including in connection with any termination thereof, shall be payable pursuant to this Agreement as additional interest on the Loan. For the avoidance of doubt, it is the intent of the parties that all obligations of Borrower under any Lender Interest Rate Protection Agreement (including, without limitation, the obligations of Borrower in connection with a termination of all or a portion of any such Interest Rate Protection Agreement) shall be payable to Agent as “additional interest”, constitute Obligations and be secured by the Deed of Trust and other collateral for the Loan. Borrower hereby assigns all of Borrower’s right, title and interest in, to and under any such Lender Interest Rate Protection Agreement and Borrower hereby agrees that a Bank, or an Affiliate thereof, as counterparty under the Lender Interest Rate Protection Agreement, shall make any payments that become payable under or pursuant to the Lender Interest Rate Protection Agreement directly to Agent for the benefit of the Banks. At such time as the Loan is indefeasibly repaid in full, all of Agent’s right, title and interest in any Lender Interest Rate Protection Agreement shall terminate and Agent shall execute and deliver, at Borrower’s sole cost and expense, such documents as may be required to evidence Agent’s release of such Lender Interest Rate Protection Agreement. If Agent receives any payments under an Lender Interest Rate Protection Agreement (other than a payment by reason of a termination event (as defined in such Lender Interest Rate Protection Agreement) or any other payment during the existence of an Event of Default), Agent shall apply the same to interest payable on the next occurring Payment Date. If Agent receives any payments under an Lender Interest Rate Protection Agreement during the existence of an Event of Default or by reason of a termination event under such Lender Interest Rate Protection Agreement during the existence of an Event of Default, Agent shall have the right to apply same to any portion of the Obligations in any order it desires, including, without limitation, if such Lender Interest Rate Pr...
Lender Interest Rate Protection Agreement means any Interest Rate Protection Agreement to which Borrower and Eurohypo or Aareal or any Affiliate of either of them are parties in the event that Loan Parties and Eurohypo or Aareal or any Affiliate of either of them elect to enter into an Interest Rate Protection Agreement. Borrower’s performance of its obligations pursuant to any Lender Interest Rate Protection Agreement which is not an interest rate cap is secured by the Collateral.
Lender Interest Rate Protection Agreement means, collectively, each Interest Rate Protection Agreement (if any) which relates to the Loan and in which any Lender or any Affiliate thereof is the Counterparty, and only for so long as such Counterparty remains a Lender (or any Affiliate thereof). If any Lender or an Affiliate of a Lender provides a Lender Interest Rate Protection Agreement to Borrower, each other Lender (or an Affiliate thereof) shall have the right to participate in such Interest Rate Protection Agreement.
Lender Interest Rate Protection Agreement means any Interest Rate Protection Agreement to which (a) any Borrower and the Administrative Agent or any Affiliate of the Administrative Agent are parties in the event that such Borrower and the Administrative Agent or such Administrative Agent’s Affiliate elect to enter into an Interest Rate Protection Agreement or (b) if the Administrative Agent or such Administrative Agent’s Affiliate shall have elected to not enter into an Interest Rate Protection Agreement then, with the consent of the Administrative Agent, any Borrower and any Lender or any Affiliate of any Lender are parties in the event that such Borrower and such Lender or such Lender’s Affiliate elect to enter into an Interest Rate Protection Agreement.