Loan Bifurcation shall have the meaning set forth in Section 11.1 hereof.
Loan Bifurcation shall have the meaning set forth in Section 9.1 hereof. “Loan Documents” shall mean, collectively, this Agreement, the Note, the Security Instrument, the Assignment of Leases, the Environmental Indemnity, the Assignment of Management Agreement, the Collateral Assignment of Interest Rate Cap Agreement, the Guaranty, and all other documents executed and/or delivered in connection with the Loan, as each of the same may be amended, restated, replaced, extended, renewed, supplemented or otherwise modified from time to time. “Losses” shall mean any and all losses, damages, costs, fees, expenses, claims, suits, judgments, awards, liabilities (including but not limited to strict liabilities), obligations, debts, diminutions in value, fines, penalties, charges, amounts paid in settlement, foreseeable and unforeseeable consequential damages, litigation costs and attorneys’ fees, in the case of each of the foregoing, of whatever kind or nature and whether or not incurred in connection with any judicial or administrative proceedings, actions, claims, suits, judgments or awards. “LTV” shall mean a ratio, as determined by Xxxxxx, in which, as of any date of determination by Xxxxxx: (i) the numerator is equal to the sum of the outstanding principal balance of the Loan plus the outstanding principal balance of the Senior Loan and (ii) the denominator is equal to the appraised value of the Property based on an Appraisal. “Major Contract” shall mean (i) any management (other than the Management Agreement), brokerage or leasing agreement or (ii) any cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) of a material nature (materiality for these purposes to include contracts in excess of $100,000.00 per year or which extend beyond two (2) years (unless cancelable by Borrower on sixty (60) days or less notice without penalty)), in either
Loan Bifurcation shall have the meaning set forth in Section 9.1(b)(iv) hereof. "Loan Documents" shall mean, collectively, this Agreement, the Note, the Security Instrument, the Cash Management Agreement, the Restricted Account Agreement, the Environmental Indemnity, the Guaranty, the Assignment of Management Agreement and any other document pertaining to the Property as well as all other documents now or hereafter executed and/or delivered in connection with the Loan, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. "Losses" shall have the meaning set forth in Section 11.13.2 hereof. "Major Lease" shall mean (i) any Lease which, individually or when aggregated with all other Leases at the Property with the same Tenant or its Affiliate, either (A) accounts for ten percent (10%) or more of the Property's aggregate total rental income, or (B) demises 25,000 square feet or more of the Property's gross leasable area, (ii) any Lease which contains any option, offer, right of first refusal or other similar entitlement to acquire all or any portion of the Property (which such rights shall be deemed to be exclusive of any rights under any Lease to extend the term thereof or to lease additional space at the Property), or (iii) any instrument guaranteeing or providing credit support for any Lease meeting the requirements of (i) or (ii) above. "Management Agreement" shall mean the management agreement entered into by and between Borrower and the Manager, pursuant to which the Manager is to provide management and other services with respect to the Property. "Manager" shall mean Whitestone REIT Operating Partnership, L.P. or any other manager approved in accordance with the terms and conditions of the Loan Documents. "Material Adverse Effect" shall mean a material adverse effect on (i) the Property, (ii) the business, profits, prospects, management, use, operations or condition (financial or otherwise) of Borrower, Guarantor, Sponsor or the Property, (iii) the enforceability, validity, perfection or priority of the lien of the Security Instrument or the other Loan Documents, (iv) the OM EAST #17478116 v7 8
Examples of Loan Bifurcation in a sentence
Prior to the occurrence of an Event of Default, all monthly payments made as scheduled pursuant to this Agreement and the Note shall be applied first to the payment of interest computed at the Interest Rate, and the balance toward the reduction of the principal amount of the Debt (and, in connection with any New Mezzanine Loan or any Loan Bifurcation, be applied sequentially among any components within such New Mezzanine Loan or Loan Bifurcation).
UT shall notify Arena of the achievement of a Milestone in Section 2.3(a) within [***] ([***]) Business Days after the Milestone is achieved, and UT shall remit payment of the applicable Milestone Payment to Arena within [***] ([***]) Business Days after the Milestone is achieved.
No Wrong Door and Active EngagementTo provide the services needed by each client, either directly or through a network of referrals, Housing First staff operate with a ‘no wrong door’ (NWD) approach18.
More Definitions of Loan Bifurcation
Loan Bifurcation shall have the meaning set forth in Section 13.1 hereof. “Loan Documents” shall mean, collectively, this Agreement, the Note, the Security Instrument, the Pledge Agreement, the Environmental Indemnity, the Assignment of Management Agreement, the Guaranty, the Cash Management Agreement, the Collateral Assignment of Interest Rate Protection Agreement, the Subordination of Asset Management Agreement, the Post-Closing