Common use of Equity Pledges Clause in Contracts

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.

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").

Equity Pledges. The With respect to each Purchased Loan which is a Mezzanine Loan only, the pledge of ownership interests securing such First Mezzanine Purchased Loan relates to 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 Mezzanine LenderSeller as mezzanine lender.