Mezzanine Loan Event of Default means an “Event of Default” as defined in the Mezzanine Loan Agreement.
Mezzanine Loan Event of Default means the occurrence of any one or more events that would constitute an “Event of Default” under and as defined in any of the Mezzanine Loan Documents, with respect to which Lender shall have received written notice from Borrower or the applicable Mezzanine Lender.
Mezzanine Loan Event of Default means a Senior Mezzanine Loan Default or a Junior Mezzanine Loan Default, as the case may be.
Examples of Mezzanine Loan Event of Default in a sentence
Any amount remaining in a Reserve Account after the Debt has been paid in full shall be returned to Borrower (provided, however if at such time Administrative Agent has received written notice that a Mezzanine Loan Event of Default then exists, such funds shall instead be deemed distributed to Borrower and shall be paid to Mezzanine Loan Administrative Agent).
More Definitions of Mezzanine Loan Event of Default
Mezzanine Loan Event of Default means, with respect to each Mezzanine Loan, an “Event of Default” under such Mezzanine Loan and as defined in the Mezzanine Loan Documents and Lender may conclusively rely on any notice from the applicable Mezzanine Lender of such Mezzanine Loan Event of Default without any inquiry into the validity thereof.
Mezzanine Loan Event of Default means an “Event of Default” as defined in the Mezzanine Loan Agreement. “Mezzanine Loan Monthly Debt Service Payment Amount” means the Monthly Debt Service Payment Amount (as defined in the Mezzanine Loan Agreement). “Mezzanine Loan Outstanding Principal Balance” means, as of any date, the outstanding principal balance of the Mezzanine Loan. “Mezzanine Loan Unfunded Loan Proceeds Account” means the “Unfunded Loan Proceeds Account” under and as defined in the Mezzanine Loan Agreement. “Milestone Non-Compliance Event” means that any Major Milestone has not been timely satisfied as provided in the definition of “Major Milestones”. “Minimum Rate” means the Rate Index Floor plus the Spread. “Monthly Debt Service Payment Amount” means, as of any Payment Date, all accrued and unpaid interest that has accrued on the Outstanding Principal Balance at the Interest Rate for the Interest Accrual Period in effect as of the day immediately preceding such Payment Date. “Moody’s” means Xxxxx’x Investors Service, Inc. “Mortgage Funding Share” means 64.71%. “Net Operating Income” means, for any period, the amount obtained by subtracting Operating Expenses for such period from Operating Income for such period. “Net Proceeds” means (a) with respect to the occurrence of a Casualty, the net amount of all insurance proceeds payable under the Policies required pursuant to Section 6.1(a) hereof as a result of the applicable damage or destruction, after deduction of Lender’s reasonable costs and expenses (including, but not limited to, reasonable legal fees), if any, in collecting same (but not including the proceeds of any business interruption insurance), and (b) with respect to the occurrence of a Condemnation, the net amount of any payments received from the applicable Governmental Authority on account of such Condemnation, or in any transaction or proceeding in lieu thereof, after deduction of Borrower’s and Lender’s reasonable costs and expenses (including reasonable legal fees), if any, in collecting same. “Net Proceeds Reserve Account” has the meaning set forth in Section 6.4 hereof. “Net Proceeds Threshold” means the sum of One Million and No/100 Dollars ($1,000,000). “Non-Lienable Work” means work conducted at, or for the benefit of, the Property, with respect to which work, no Person shall have the right under applicable Legal Requirements to file or record a Lien against the Property in respect of any non-payment of amounts due and owing to such Person.