Componentization Event definition
Componentization Event means any syndication of the Loan involving an A/B or senior/subordinate structure. For the avoidance of doubt, (a) no Componentization Event shall occur without the consent of Borrower, which consent may be granted or withheld in Borrower’s reasonable discretion and (b) a Componentization Event shall be applicable only to the Loan and not any Mezzanine Loan (or give additional rights to Administrative Agent or Lenders to create a Mezzanine Loan).
Componentization Event means any Securitization or syndication of the Loan involving an A/B or senior/subordinate structure (including any Securitization involving a Securitization Vehicle or the sale of so-called “B” Note or subordinate participation interest).
Examples of Componentization Event in a sentence
For the purpose of computing interest payable from time to time on the principal amount of the Loan and certain other computations set forth herein, upon written notice from Lender to Borrower (the “Componentization Notice”) in connection with any Componentization Event, the principal balance of the Loan shall be divided into multiple components (“Components”).
In connection with any Componentization Event permitted hereunder (on one or more occasions), upon written notice (which may be delivered via email) from Administrative Agent to Borrower (a “Componentization Notice”), the Note will be deemed to have been subdivided into multiple components (“Components”).