Mezzanine Notes definition
Examples of Mezzanine Notes in a sentence
Any Applied Realized Loss Amount allocated to a related Class of Mezzanine Notes shall be allocated among the Mezzanine Notes of such Class in proportion to their respective Percentage Interests.
The Applied Realized Loss Amount for any Payment Date shall be applied by reducing the Class Note Balance of each Class of Mezzanine Notes beginning with the Class of Mezzanine Notes then outstanding with the lowest relative payment priority, in each case until the respective Class Note Balance thereof is reduced to zero.
Within five (5) Business Days after its receipt of such notice, Mezzanine Borrower, at Mezzanine Lender’s own expense, shall execute and deliver to Mezzanine Lender in exchange and substitution for the surrendered Mezzanine Note or Mezzanine Notes a new Mezzanine Note to the order of such assignee in an amount equal to the portion of the Loan assigned to it and a new Mezzanine Note to the order of Mezzanine Lender in an amount equal to the portion of the Loan retained by it hereunder.
Any increase to the Class Note Balance of a Class of Mezzanine Notes shall increase the Note Balance of the related Class pro rata in accordance with each Percentage Interest.
Upon its receipt of an Assignment and Acceptance executed by an assignee, together with any Mezzanine Note or Mezzanine Notes subject to such assignment, Mezzanine Lender shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit B hereto, (i) accept such Assignment and Acceptance, (ii) record the information contained therein in the Register, and (iii) give prompt written notice thereof to Mezzanine Borrower.