Mezz Facility definition
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.
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”).
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.
Borrower expenses and “rate creep” prior to default to be set forth in the CPLV Mezz Facility loan documents.
Each assignment, in the case of the CPLV Mezz Facility, will be in an amount of an integral multiple of $1,000,000.
In the event that the Disbursing Agent should at any time be confronted with inconsistent claims or demands by any of the parties hereto, the Senior Facility Agent, the Mezz Facility Agent, the New Senior Facility Agent, the New Junior Facility Agent, the Security Trustee or the Holders, or any transferee, assignee, heir, representative or legatee thereof, the Disbursing Agent shall be entitled, at its sole election, to refuse to comply with any such conflicting claims or demands.