Definition of Mezzanine Interest Rate Cap Agreement


Mezzanine Interest Rate Cap Agreement means, collectively, one or more interest rate protection agreements (together with the confirmation and schedules relating thereto) acceptable to Lender, between an Acceptable Counterparty and Borrower obtained by Borrower as and when required pursuant to Section 2.2.7 hereof. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term “Mezzanine Interest Rate Cap Agreement” shall be deemed to mean such Replacement Interest Rate Cap Agreement and such Replacement Interest Rate Cap Agreement shall be subject to all requirements applicable to the Mezzanine Interest Rate Cap Agreement.


Mezzanine Interest Rate Cap Agreement means each “Interest Rate Cap Agreement” as such item is defined in the each Mezzanine Loan Agreement.

Examples of Mezzanine Interest Rate Cap Agreement in a sentence

For the purposes of this Section 2.7, the term “Loan Documents” shall not include the Mezzanine Interest Rate Cap Agreement, the Assignment of Interest Rate Cap Agreement or any other document with respect thereto, and the term “applicable law” shall include FATCA.
Borrower shall take all actions reasonably requested by Lender to enforce Lender’s rights under the Mezzanine Interest Rate Cap Agreement in the event of a default by the Acceptable Counterparty and shall not waive, amend or otherwise modify any of its rights thereunder without Lender’s prior consent.
All amounts paid by the Acceptable Counterparty under the Mezzanine Interest Rate Cap Agreement to Borrower or Lender shall be directly deposited immediately into the Deposit Account or, during the continuance of an Event of Default, into such other account as specified by Lender.
Borrower shall take all actions reasonably requested by Lender to enforce Lender’s rights under the Mezzanine Interest Rate Cap Agreement in the event of a default by the Acceptable Counterparty and shall not waive, amend or otherwise modify any of its rights thereunder.
All amounts paid by the Acceptable Counterparty under the Mezzanine Interest Rate Cap Agreement to Borrower or Lender shall be directly deposited immediately into the Deposit Account or, during the continuance of an Event of Default, into such account as specified by Lender.