Examples of Senior Mezzanine Lender in a sentence
Borrower grants to Lender a first-priority perfected security interest in Borrower’s interest in each of the Mortgage Loan Reserve Funds and Senior Mezzanine Loan Reserve Funds, if any, subject to the prior rights of Mortgage Lender and Senior Mezzanine Lender, and any and all monies now or hereafter deposited in each Mortgage Loan Reserve Fund and Senior Mezzanine Loan Reserve Funds as additional security for payment of the Debt to the extent Borrower has an interest in same.
If the Mortgage Lender and Senior Mezzanine Lender do not require the deposit by the Mortgage Borrower or Senior Mezzanine Borrower of the “Net Proceeds Deficiency” pursuant to the Mortgage Loan Agreement or the Senior Mezzanine Loan Agreement, as applicable, Lender shall have the right to demand that Borrower make a deposit of said “Net Proceeds Deficiency” in accordance with the terms of such Section (as if each reference therein to “Borrower” and “Lender” referred to Borrower and Lender, respectively).
Borrower and each Mezzanine Borrower hereby acknowledge and agree that (i) such Intercreditor Agreement is intended solely for the benefit of Lender, Senior Mezzanine Lender and Junior Mezzanine Lender and (ii) Borrower, Senior Mezzanine Borrower and Junior Mezzanine Borrower are not intended third-party beneficiaries of any of the provisions therein and shall not be entitled to rely on any of the provisions contained therein.
For purposes of this Article 8, Borrower shall obtain the approval of Lender for each matter requiring the approval of Mortgage Lender and Senior Mezzanine Lender under the provisions of the Mortgage Loan Agreement and the Senior Mezzanine Loan Agreement, with each reference in any such provisions to the “Loan” to include the Mortgage Loan, the Senior Mezzanine Loan and the Loan, and the reference in any such provisions to the “Maturity Date” to mean the Maturity Date, as defined herein.
Lender, Senior Mezzanine Lender and Junior Mezzanine Lender shall have no obligation to disclose to Borrower the contents of the Intercreditor Agreement.