Mezzanine Obligation definition

Mezzanine Obligation means a Portfolio Investment which is unsecured, subordinated debt of a company that represents a claim on such company's assets which is senior only to that of the equity securities of such company.

Mezzanine Obligation means (a) a mezzanine loan obligation or other comparable debt obligation (including any such loan or debt obligation with attached warrants and including any such obligation which is evidenced by an issue of notes) (other than notes which are High Yield Bonds), as determined by the Investment Manager in its reasonable judgment, or a Participation therein; or (b) a Synthetic Security, the Reference Obligation applicable to which is an obligation of the type described in (a).

Mezzanine Obligation means a Portfolio Investment which is not a Senior Secured Loan or a Second Lien Loan.

Examples of Mezzanine Obligation in a sentence

• Each Portfolio Investment is a Loan or a debt security and is not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than Initial Portfolio Investments), a Mezzanine Obligation (or, for the avoidance of doubt, any other unsecured obligation of an obligor) or a Letter of Credit.

• Such obligation is a Loan or a debt security and is not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than Initial Portfolio Investments, the Second MPA Portfolio Investments or the Third MPA Portfolio Investments), a Revolving Loan, a Mezzanine Obligation (or, for the avoidance of doubt, any other unsecured obligation of an obligor) or a Letter of Credit.

• The occurrence of an event of default under any Mezzanine Obligation and the commencement by the holder of the related Mezzanine Pledge of its remedies thereunder to enforce (whether by possession, foreclosure, sale, or otherwise) its security interest in the equity interests in Sunstone or Sunstone Hotel TRS, as applicable, which are the subject of such Mezzanine Pledge.

• Such obligation is a Loan or a Debt Security and is not a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than an Initial Portfolio Investment acquired by the Company pursuant to a Sale Agreement), a Revolving Loan, a letter of credit or an interest therein, or a Mezzanine Obligation (other than a Liquid Debt Security, if applicable) (or, for the avoidance of doubt, any other unsecured obligation of an obligor).

• Such obligation is a Loan and is not a bond, a Synthetic Security, a Zero-Coupon Security, a Structured Finance Obligation, a Participation Interest (other than an Initial Portfolio Investment acquired by the Company pursuant to the Sale Agreement), aprimarily secured by real estate, a Revolving Loan, a letter of credit or an interest therein or a Mezzanine Obligation (or, for the avoidance of doubt, any other unsecured obligation of an obligor).

More Definitions of Mezzanine Obligation

Mezzanine Obligation means a Portfolio Investment which is unsecured, subordinated debt of the applicable obligor.

Mezzanine Obligation means a Portfolio Investment which is unsecured, subordinated debt of the obligor.

Mezzanine Obligation means (a) a secured mezzanine obligation (including any such loan which has attached warrants or is evidenced by an issue of notes) as determined by the Collateral Manager in its reasonable business judgement, a Participation therein or an interest in any such obligation including a Synthetic Security the Reference Obligation under which is an obligation of the type described above, or (b) a loan with a second priority security interest as determined by the Collateral Manager in its reasonable business judgement;

Mezzanine Obligation means a subordinate Loan or Debt Security that is senior to all equity classes. For clarity, Mezzanine Obligations shall not include any preferred stock or any equity security that is mandatorily redeemable as defined by GAAP.

Mezzanine Obligation means an obligation which is unsecured, subordinated debt of the applicable obligor.

Mezzanine Obligation means (a) a mezzanine loan obligation or other comparable debt obligation (including any such loan or debt obligation with attached warrants and including any such obligation which is evidenced by an issue of notes), as determined by the Collateral Manager, or a Participation therein.

Mezzanine Obligation means a mezzanine loan obligation or other comparable debt obligation, including: (a) Second Lien Obligations; (b) any such loan obligation with attached warrants or other options to acquire a share or other equity interest; (c) cash pay or non-cash pay obligations; and (d) any such obligation which is evidenced by an issue of notes or similar instruments as determined by the Investment Managers in their reasonable business judgement, or a Participation therein.