Examples of New Mezzanine Borrower in a sentence
In addition, Borrower shall cause the formation of one or more special purpose, bankruptcy remote entities as required by Lender in order to serve as the borrower under any New Mezzanine Loan (each, a “New Mezzanine Borrower”) and the applicable organizational documents of Borrower shall be amended and modified as necessary or required in the formation of any New Mezzanine Borrower.
The applicable organizational documents of Mortgage Borrower and Mezzanine Borrowers shall be amended and modified as reasonably necessary or required in the formation of any New Mezzanine Borrower, but subject to the other terms of this Section 9.1.3(d).
Provided no Event of Default is continuing, nothing herein or in any other Loan Document shall prohibit New Mezzanine Borrower from prepaying at a discount all or any portion of the New Mezzanine Loan subject to and in accordance with Section 10.33 hereof.
In addition, Borrower shall cause the formation of one or more special purpose, bankruptcy remote entities as reasonably required by Lender in order to serve as the borrower under any New Mezzanine Loan (each, a “New Mezzanine Borrower”) and the applicable Organizational Documents of Borrower and Mezzanine Borrower shall be amended and modified as necessary or reasonably required in the formation of any New Mezzanine Borrower.
The applicable organizational documents of Borrower and Mezzanine Borrowers shall be amended and modified as reasonably necessary or required in the formation of any New Mezzanine Borrower, but subject to the other terms of this Section 9.1.3(d).
The security for any New Mezzanine Loan shall include a pledge by the related New Mezzanine Borrower of one hundred percent (100%) of the direct ownership interests in Borrower or its immediately senior New Mezzanine Borrower, as applicable.
The applicable organizational documents of Borrower and Mezzanine Borrowers shall be amended and modified as necessary or required in the formation of any New Mezzanine Borrower, but subject to the other terms of this Section 9.1.2(c).
All reasonable third party costs and expenses incurred by Borrower in connection with its compliance with any requests under this Section 9.3(b) (and relating to the creation of a single New Mezzanine Loan and/or a single New Mezzanine Borrower shall be paid by Borrower.
It shall be an Event of Default hereunder if Borrower, Mezzanine B Borrower or New Mezzanine Borrower fails to comply with any of the terms, covenants or conditions of this Section 9.8 and such failure shall continue for more than ten (10) Business Days after Borrower, Mezzanine B Borrower or New Mezzanine Borrower, as the case may be, shall have received written notice thereof.
In addition, Borrower shall cause the formation of one or more special purpose, bankruptcy remote entities as required by Lender in order to serve as the borrower under any New Mezzanine Loan (each, a “New Mezzanine Borrower”) and the applicable organizational documents of Borrower and Mortgage Borrower shall be amended and modified as necessary or required in the formation of any New Mezzanine Borrower.