Examples of Mezzanine Loan Event of Default in a sentence
Borrower shall promptly advise Lender of any material Default or Event of Default of which Borrower has knowledge, including any Mortgage Loan Default, Senior Mezzanine Loan Default, Senior Mezzanine Loan Event of Default or Mortgage Loan Event of Default.
Borrower shall reimburse Lender on demand for any and all costs incurred by Lender in connection with curing any such Mortgage Loan Default, Senior Mezzanine Loan Default, Mortgage Loan Event of Default or Senior Mezzanine Loan Event of Default or satisfying any Liens, claims or judgments against any of the Properties or the Senior Mezzanine Collateral.
All such costs and expenses incurred by Lender in remedying such Senior Mezzanine Loan Event of Default or such failed payment or act shall bear interest at the Default Rate, for the period after such cost or expense was incurred into the date of payment to Lender.
No Mortgage Loan Event of Default, Senior Mezzanine Loan Event of Default or, to the best of Borrower’s knowledge, information and belief, after due inquiry, Mortgage Default or Senior Mezzanine Default exists as of the date hereof.
Borrower shall give notice, or cause notice to be given, to Lender promptly upon the occurrence of any Mortgage Loan Event of Default or any Senior Mezzanine Loan Event of Default.
Administrative Agent shall have no duty to confirm, inquire or determine whether a Mezzanine Loan Event of Default or Mezzanine Trigger Period has occurred.
Borrower shall reimburse Lender on demand for any and all costs paid by Lender in connection with curing any such Senior Mezzanine Loan Event of Default or Mortgage Loan Event of Default or satisfying any such Liens, claims or judgments against any of the Senior Mezzanine Collateral or the Property.
Lender shall have no duty to confirm, inquire or determine whether a Mezzanine Loan Event of Default or Mezzanine Trigger Period has occurred.
If the amounts so remitted from the Mortgage Loan Low Debt Yield Reserve Account exceed the Preferred Equity Distribution Amount, and so long as an Initial Cash Flow Reserve Period, Trigger Period, Junior Mezzanine Loan Event of Default, Mortgage Loan Event of Default or Event of Default is then continuing, Borrower shall cause Property Owner to cause such excess amounts to be remitted to the Mortgage Loan Cash Management Account prior to the next succeeding Payment Date.
If the amounts so remitted from the Low Debt Yield Reserve Account exceed the Preferred Equity Distribution Amount, and so long as an Initial Cash Flow Reserve Period, Trigger Period, Mezzanine Loan Event of Default or Event of Default is then continuing, Borrower shall cause such excess amounts to be remitted to the Cash Management Account prior to the next succeeding Payment Date.