Equity Pledges. The pledge of ownership interests securing such First Mezzanine Loan relates to direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been perfected in favor of the First Mezzanine Lender.
Appears in 2 contracts
Sources: Master Repurchase Agreement, Master Repurchase Agreement (KBS Real Estate Investment Trust, Inc.)
Equity Pledges. The pledge of ownership interests securing such First Mezzanine Loan relates to all or substantially all direct or indirect equity or ownership interests in the underlying real property owner (so that, except for the equity interests pledged to Seller, there are no direct or indirect equity or ownership interests in underlying real property owner or in any constituent entity) and has been fully perfected in favor of the First originator of the Mezzanine Loan ("Mezzanine Lender").
Appears in 1 contract
Sources: Master Repurchase Agreement (Winthrop Realty Trust)