Examples of Mezzanine C Loan in a sentence
Certain prepetition accrued interest payments related to the Mezzanine C Loan, the Mezzanine B Loan, and the Mezzanine A Loan (each as defined in the Cash Collateral Motion) were paid without the authorization of the Debtors on November 1, 2021, for which the Debtors intend to pursue any and all remedies in law and equity for the turnover of such payments.
Loan Amount Repaid from Offering Proceeds Stated Interest Rate Reduction in Annual Interest Expense(1) 2012 Mezzanine A Loan $ 278,167 8.25% $ 22,000 2012 Mezzanine B Loan 183,590 9.63% 16,940 2012 Mezzanine C Loan 139,083 11.50% 15,333 $ 54,273 (1) Interest expense for the period from January 1, 2013 through the date of repayment.
Borrower has reviewed the representations and warranties made by, and covenants of, Mezzanine C Borrower to and for the benefit of Mezzanine C Lender contained in the Mezzanine C Loan Documents and such representations and warranties are true, correct and complete.
Pledgor shall cause Mezzanine C Borrower to provide Lender with a copy of any amendment, waiver, supplement, termination or other modification to the Mezzanine C Loan Documents within five (5) days after the execution thereof.
Lender, Mortgage Lender, Mezzanine A Lender and Mezzanine C Lender are or will be parties to a certain Intercreditor Agreement (the “Intercreditor Agreement”) memorializing their relative rights and obligations with respect to the Loan, the Mortgage Loan, the Mezzanine A Loan, the Mezzanine C Loan, Borrower, Mortgage Borrower, Mezzanine A Borrower, Mezzanine C Borrower, the Applicable Collateral and the Properties.
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 C Loan Agreement) of attorney’s fees for purchaser’s attorneys in connection with Secondary Market Transactions.
Senior Lender and Junior Lenders desire to enter into this Agreement to provide for the relative priority of, and to evidence certain agreements with respect to, the Senior Loan Documents, the Mezzanine A Loan Documents, the Mezzanine B Loan Documents and the Mezzanine C Loan Documents.
There are no Mezzanine C Loan Documents other than those set forth on Schedule 4.1.51 attached hereto.
Any Reserve Funds remaining on deposit pursuant to the terms of this Agreement after the Debt has been paid in full shall be paid (a) if the Mezzanine C Loan is outstanding, to Mezzanine C Lender to be held by Mezzanine C Lender pursuant to the Mezzanine C Loan Agreement for the same purposes as those described in Article 8 of the Mortgage Loan Agreement, and (c) if the Mezzanine C Loan is no longer outstanding, to Borrower.
No provision of the Loan Documents, Mezzanine B Loan Documents or the Mezzanine C Loan Documents shall create a debtor-creditor relationship between Mortgage Borrower and any Mezzanine Lender.