Refinancing Loan. Borrower shall not obtain or enter into any agreement or letter of intent to obtain any financing to refinance, directly or indirectly, all or any portion of the Loan (a “Refinancing Loan”), whether by way of a mortgage loan, credit facility, mortgage repurchase facility or otherwise, or any commitment for a Refinancing Loan (a “Refinancing Loan Commitment”), unless and until Borrower shall have complied with this Article 16. Except as expressly provided in Section 16.3(c), this Article 16 shall apply each and every time Borrower seeks a Refinancing Loan or Refinancing Loan Commitment until the Debt has been paid in full in accordance with the terms and conditions of the Loan Documents. For purposes of this Article 16, the term “Lender” shall mean the initially-named Lender hereunder, and shall also include any Affiliate thereof.
Appears in 2 contracts
Sources: Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.)