Examples of Mezz Facility in a sentence
Amounts under the CPLV Mezz Facility that are repaid or prepaid may not be reborrowed.
The full amount of the CPLV Mezz Facility will be issued on the Closing Date.
Additionally the Note A Loan and Note B Loan (as defined in Note 13) are cross-defaulted with the Mezz Facility.
The lender on the Mezz Facility has a perfected security interest in the membership interest of NHT 2325 Stemmons, NHT DFW Portfolio and NHT SP.
The relative rights and priorities in the Collateral for the CPLV Mezz Facility and the CPLV Market Debt will be set forth in a customary intercreditor agreement, as between the collateral agent for the CPLV Mezz Facility, on the one hand, and the collateral agent for the CPLV Market Debt, on the other hand.
Subject to customary exceptions, the CPLV Mezz Facility will be secured on a first-priority basis by a pledge of the equity interests in a newly formed holding company that will directly own 100% of CPLV Sub (“CPLV Holding”).
Borrower expenses and “rate creep” prior to default to be set forth in the CPLV Mezz Facility loan documents.
The impact to the global economy caused by the response to the COVID-19 pandemic negatively impacted the Company’s ability to obtain new financing, and as a result, the Company was unable to refinance the principal balance of the Mezz Facility.
The impact to the global economy caused by the response to the COVID-19 outbreak has negatively impacted the Company’s ability to obtain new financing, and as a result, the Company was unable to refinance the principal balance of the Mezz Facility.
Each assignment, in the case of the CPLV Mezz Facility, will be in an amount of an integral multiple of $1,000,000.