Recognized Lender definition

Recognized Lender means the holder of a Recognized Loan.

Recognized Lender has the meaning given such term in the Program Agreement.

Recognized Lender means a public or private lending source or institution, federal, state, county or municipal governmental agency or bureau, bank, savings and loan, pension fund, investment fund, insurance company, real estate investment trust, tax credit syndication entity, or other real estate investment or lending entity, savings bank, whether local, national or international, or the holder of any purchase money mortgage given back to a transferor, and the successors or assigns of such holder, mortgagee or beneficiary, and will be deemed to include, without limitation, the trustee under any such trust indenture and the successors or assigns of such trustee.

Examples of Recognized Lender in a sentence

• If a Recognized Lender or its designee succeeds to Operator’s interest under the Program Agreement in accordance with the terms thereof, such Recognized Lender or its designee shall automatically succeed to Operator’s interest under this Agreement.

• Except as provided in Sections 3.2 and 3.3, all Equipment shall at all times be the property of Operator, subject to the lien thereon by any Recognized Lender.

• Landlord shall give each Recognized Lender prompt notice of the commencement of any arbitration or legal proceedings between Landlord and Tenant involving obligations under this Lease.

• Landlord, upon providing Tenant any notice of: (i) default under this Lease, or (ii) an intention to terminate this Lease, or (iii) demand to remedy a claimed default, shall contemporaneously provide a copy of such notice to each Senior Recognized Lender for which Landlord has received a notice address.

• From and after such notice has been given to each Senior Recognized Lender, a Senior Recognized Lender shall have the same period, after the giving of such notice upon it, for remedying any default or causing the same to be remedied, as is given Tenant after the giving of such notice to Tenant, plus in each instance, the additional periods of time specified in Sections 7.6 and 7.7 below, to remedy, commence remedying or cause to be remedied the defaults specified in any such notice.

• Notices from Landlord to each Recognized Lender shall be mailed to the address furnished Landlord pursuant to Section 7.2 above and, those from each Recognized Lender to Landlord shall be mailed to the address designated pursuant to the provisions of‌ Section 19 below.

• Tenant authorizes each Senior Recognized Lender to take any such action at such Senior Recognized Lender’s option and does hereby authorize entry upon the Property by the Leasehold Mortgagee for such purpose.

• In no event shall there be more than one Recognized Lender at any one time.

• Each Recognized Lender shall have the right to intervene in any such proceedings and be made a party to such proceedings, and the parties hereto do consent to such intervention.

• In addition to the notice requirements in Section 7.2.5, in the event a Recognized Lender commences any judicial or non-judicial action to foreclose its Leasehold Mortgage or otherwise realize upon its security granted therein, written notice of such proceedings shall be provided to Landlord at the same time notice thereof is given Tenant.

More Definitions of Recognized Lender

Recognized Lender has the meaning set forth in Section 7.2.1.

Recognized Lender. The most senior Recognized Mezzanine Lender from time to time, based upon such notices from Tenant or a notice from the then Senior Recognized Mezzanine Lender designating another Recognized Lender as the “Senior Recognized Mezzanine Lender”, shall, so long as its Mezzanine Loan satisfies the Mezzanine Loan Requirements and shall remain unsatisfied, or until written notice of satisfaction thereof is given by such Recognized Mezzanine Lender to Landlord (whichever shall first occur), be referred to in this Lease as, and each such Recognized Mezzanine Lender shall individually be entitled to the rights of, the “Senior Recognized Mezzanine Lender”. The Senior Recognized Leasehold Mortgagee and Senior Recognized Mezzanine Lender are referred to collectively herein as the “Senior Recognized Lenders”.

Recognized Lender as defined in Section 31.1 of the Ground Lease and is entitled to all notices and cure rights afforded to a Recognized Lender pursuant to Article 31 of the Ground Lease, including, without limitation, the right to enter into a “new lease” pursuant to Section 31.10 if the Ground Lease is ever terminated.