Examples of Mezzanine B Loan Agreement in a sentence
Borrower acknowledges and agrees that Mortgage Lender, Mezzanine A Lender and Mezzanine B Lender shall have the options set forth in Section 11.6 of the Mortgage Loan Agreement, the Mezzanine A Loan Agreement and the Mezzanine B Loan Agreement, respectively.
Borrower shall also pay the first $250,000 (when aggregated with all amounts paid pursuant to the last sentence of Section 17.6 in the Mezzanine A Loan Agreement and the Mezzanine B Loan Agreement) of attorney’s fees for purchaser’s attorneys in connection with Secondary Market Transactions.
Borrower shall also pay the first $250,000 (when aggregated with all amounts paid pursuant to the last sentence of Section 17.6 in the Mezzanine B Loan Agreement and the Mezzanine C Loan Agreement) of attorney’s fees for purchaser’s attorneys in connection with Secondary Market Transactions.
Borrower shall cooperate with such lenders in such lenders’ exercise, from time to time, of any and all such options in good faith and in a timely manner, which cooperation shall include, but not be limited to, cooperating with respect to all of the actions and items specified and/or referenced in Section 11.6 of each of the Mortgage Loan Agreement, the Mezzanine A Loan Agreement and the Mezzanine B Loan Agreement, respectively (subject to the limitations set forth therein, mutatis mutandis).
Notwithstanding the foregoing, no Independent Manager shall also serve as an Independent Manager (as such term is defined in the Mortgage Loan Agreement or the Mezzanine B Loan Agreement, as applicable) for Mortgage Borrower, Mezzanine B Borrower or any SPE Component Entity (as such term is defined in the Mortgage Loan Agreement or the Mezzanine B Loan Agreement, as applicable) of Mortgage Borrower or Mezzanine B Borrower.
Borrower shall be deemed to have knowledge of (i) a foreclosure sale on the date notice of such foreclosure sale is given and (ii) a refinancing of all or any portion of a Property, the Collateral (as defined in the Mezzanine A Loan Agreement) and/or the Collateral (as defined in the Mezzanine B Loan Agreement), on the date on which a commitment for such refinancing has been entered into.
Borrower shall not cancel or otherwise forgive or release any claim or debt (other than termination of Leases in accordance with the Mortgage Loan Agreement, the Mezzanine A Loan Agreement, the Mezzanine B Loan Agreement and this Agreement) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business.
Mezzanine B Debt Maturity Balance ($) Mezzanine B Loan Agreement The original Mezzanine B principal balance, for interest only mezzanine loans.
Borrower may after the Effective Date of this Agreement request from Lender a release pursuant to Section 2.5.2 of the Mezzanine B Loan Agreement, notwithstanding Borrower’s inability to satisfy the Release Conditions under the Mezzanine B Loan Agreement by virtue of the Existing Default (the “No EOD Release Condition”).
Section 10.4 of the Mezzanine B Loan Agreement is hereby incorporated by reference.