Middle Tier Entity definition

Middle Tier Entity or “MTE” means a Delaware limited liability company wholly-owned by either SPE I or SPE II and formed as a single purpose entity solely for the purpose of receiving Capital Contributions from the Borrower and using such Capital Contributions to make Direct Investments in one specific Property Partnership.
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Examples of Middle Tier Entity in a sentence

  • A limited liability company, in which a Guaranteed Fund is a member holding all or a portion of the membership interests in such Middle Tier Entity and which Middle Tier Entity is a limited partner or member of a Local Partnership.

  • Assuming that no Event of Default is then existing, the Lender shall release all of the Collateral relating to a specific Property Partnership or Middle Tier Entity solely upon satisfaction of the Release Conditions applicable thereto.

  • Without the prior written consent of the Agent and the Majority Banks, neither the Borrower, any Middle Tier Entity, MEC, or TC Corp.

  • All payments (other than proceeds received in connection with the satisfaction of Release Conditions for a Property Partnership or Middle Tier Entity) shall be applied first to the payment of all fees, expenses and other amounts due to the Lender (excluding principal and interest), then to accrued interest, then to outstanding principal with respect to such Property Partnerships or MTEs for which Loans are then outstanding and the balance to the Borrower.

  • The Borrower and the Guarantors shall deposit, and cause the deposit by each Middle Tier Entity, Property Partnership, Investment Partnership, Investor or other source of repayment, of all payments and repayments of Capital Contributions, Direct Investments and Convertible Loans, and all other Obligations of the Borrower, directly into the appropriate Repayment Account, as applicable.

  • Assuming that no Event of Default is then existing, the Agent shall release all of the Collateral (other than any Cash Collateral) relating to a specific Property Partnership or Middle Tier Entity solely upon satisfaction of the Release Conditions applicable thereto.