Junior Interest definition

Junior Interest means (a) a senior, pari passu or junior participation interest in a performing Commercial Real Estate Loan or (b) a senior, pari passu or junior note or certificate in an “A/B” or similar structure in a performing Commercial Real Estate Loan, in each case where the Underlying Mortgaged Property is stabilized and non-transitional.

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Junior Interest. (a) A junior participation interest in a performing commercial real estate loan, or (b) a “B-note” in an “A/B structure” (or a more subordinate note in an “A/B/C”, “A/B/C/D” or similar structure) in a performing commercial real estate loan, each as determined by Buyer; provided, however, that notwithstanding anything to the contrary contained herein, any junior participation interest or “B-note” (or more subordinate note) as to which each of the related senior participation interests or senior notes, as applicable, are Purchased Assets hereunder shall not be “Junior Interests” for any purposes under this Agreement, the Fee and Pricing Letter or any of the other Repurchase Documents (and instead such junior interest(s) and senior interest(s) shall be collectively treated as a Whole Loan for all purposes hereunder and thereunder).

Junior Interest means a “B-note” in an “A/B” structure in a commercial real estate loan.

Examples of Junior Interest in a sentence

• Although settlement of the cash portion of the Purchase Price for Receivables shall be effected on a deferred basis as provided herein, any increase in the Junior Interest pursuant to clause (iii) of Section 1.2(b) in connection with the purchase thereof by Buyer shall be deemed to have occurred and shall be effective as of the Business Day on which such purchase occurred.

• Buyer shall have the right to review the Future Funding Request Package and to update Buyer’s original due diligence and to conduct additional due diligence with respect to the applicable Purchased Asset/or the related Whole Loan, Senior Interest, Mezzanine Loan and/or Junior Interest as Buyer determines.

• Subject to the terms of this Agreement, and subject to the terms and conditions of any participation agreement, co-lender agreement, intercreditor agreement with respect to any Purchased Loan that is a Senior Interest or a Junior Interest, there are (i) no outstanding rights, options, warrants or agreements on the part of Seller for a purchase, sale or issuance, in connection with the Purchased Loans, and (ii) no agreements on the part of Seller to issue, sell or distribute the Purchased Loans.

• Notwithstanding anything to the contrary contained in the foregoing, Mortgage Notes, Mezzanine Notes and Junior Interest Notes shall be released only for the purpose of (i) ultimate sale or exchange, or (ii) presentation, collection, enforcement, renewal, amendment or registration of transfer.

• The definition of "Interest Capitalization Notes" is amended and restated in its entirety as follows: "Interest Capitalization Notes" means the Senior Interest Capitalization Notes and the Junior Interest Capitalization Note.

More Definitions of Junior Interest

Junior Interest. A junior participation interest in a performing commercial real estate loan or (b) a "B-note" in an "A/B structure" in a performing commercial real estate loan, for which the combined DSCR is not less than that set forth in the related Confirmation, taking into account, in the calculation of the LTV and the DSCR of such Junior Interest, any senior or pari passu Indebtedness secured directly or indirectly by the applicable Underlying Mortgaged Property (including, if applicable, any Preferred Equity).

Junior Interest has the meaning set forth in the Preliminary Statements.

Junior Interest means, at any time, an undivided percentage ownership interest, which is intended to constitute a beneficial interest, issued by Seller to Finance LLC pursuant to the Second Tier Sale Agreement, in (i) each Receivable arising prior to the time of the most recent computation or recomputation of the Investor Interest, (ii) all Related Security with respect to each such Receivable, and (iii) all Collections with respect to, and other proceeds of, each such Receivable, representing the interest therein not constituting the Investor Interest. The Junior Interest shall be junior and subordinate to the Investor Interest, in accordance with the terms and conditions of this Agreement.

Junior Interest shall have the meaning specified in Exhibit VI.

Junior Interest means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Class C Convertible Preferred Units, including but not limited to Common Units, Class B Units and Subordinated Units.

Junior Interest means (a) a “B-note” in an “A/B structure” in a Purchased Loan, or (b) any other debt subordinate to a Purchased Loan transferred hereunder that is secured by (i) all or any portion of the Mortgaged Property and/or (ii) direct or indirect Equity Interests in the applicable Mortgagor.

Junior Interest means (a) a junior Participation Interest, or (b) a B-Note.