Examples of Equity Collateral Enforcement Action in a sentence
Each Junior Lender shall keep the applicable Subordinate Junior Lenders reasonably apprised as to the status of any Equity Collateral Enforcement Action.
If Landlord under the Ground Lease consents to an Equity Collateral Enforcement Action (as defined in the Ground Lease) that is a foreclosure on the Mezzanine Interests (as defined in the Ground Lease) in accordance with the Ground Lease, then the City shall be deemed to have consented to an Equity Collateral Enforcement Action that is a foreclosure on the Mezzanine Interest.
Except in connection with such Junior Borrower’s failure to repay such Junior Loan in full on the maturity date thereof, the Junior Lender holding the Junior Loan that is subject to an Event of Default shall permit the applicable Subordinate Junior Lenders an opportunity to cure such default in accordance with the provisions of this Section 12 before completing any Equity Collateral Enforcement Action.
In the event a Permitted Mezzanine Lender desires to complete an Equity Collateral Enforcement Action that is a foreclosure on the Mezzanine Interests, the Permitted Mezzanine Lender may submit to the Landlord for the Landlords’ review and reasonable approval the names of potential bidders who, if successful, would acquire ownership of the Mezzanine Interests.
All such Incurable Defaults shall be deemed to be permanently waived following the Permitted Lender’s taking possession of the Facility or, in the case of an Equity Collateral Enforcement Action, control of RIDA.