Stonebriar definition
Examples of Stonebriar in a sentence
No Loan Party shall enter into any arrangement, directly or indirectly, with any Person whereby in a substantially contemporaneous transaction such Loan Party shall sell or transfer all or substantially all of its right, title and interest in a Property and, in connection therewith, rent or lease back the right to use such Property (a “Sale-Leaseback”), except the Loan Parties may enter into Stonebriar Sale-Leaseback Transactions.
Description of Mortgage Loan: Mortgage Loan Agreement: Mortgage Loan Agreement, dated as of July 1, 2024, between Stonebriar Mall, LLC and Stonebriar Anchor Acquisition II LLC, collectively, as borrower, and ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank USA, Société Générale Financial Corporation and Bank of America, N.A., collectively, as lender.
This Delayed Draw Term Loan Note is one of the Delayed Draw Term Loan Notes referenced in that certain Credit Agreement, dated as of July 31, 2023 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Borrower, the Lenders from time to time party thereto, and Stonebriar Commercial Finance, LLC, a Delaware limited liability company, as Administrative Agent.
Each of the Lenders hereby irrevocably appoints Stonebriar Commercial Finance LLC to act on its behalf as Administrative Agent hereunder and under the other Loan Documents and authorizes Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.
Notwithstanding any such assignment, Lessee will continue to deal directly and solely with Stonebriar Commercial Finance LLC as administrative agent for the lessors (whether one or more), including affiliates of Lessor, until such time as Lessee has received written notice that such administrative agent has been replaced and Lessee has had reasonable time to acknowledge such notice.
Stonebriar Commercial Finance LLC and its successors and assigns or any replacement lender with respect to the Term Loan Debt.
The Buy-Sell Right is exercisable only by delivery of written notice (the "Buy-Sell Notice") to the Class B Members at any time from and after (but in no event sooner than) the later of the third anniversary of the date hereof and the Stonebriar Grand Opening.
The Stonebriar Centre mortgage loan is evidenced by 2 promissory notes: (i) notes A-1-2, with a outstanding principal balance of $20,000,000 as of the cut-off date, as to which ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Company is acting as mortgage loan seller; and (ii) notes A-2-2, with a outstanding principal balance of $20,000,000 as of the cut-off date, as to which Societe Generale Financial Corporation is acting as mortgage loan seller.
It is the intention of the Members that development of the Stonebriar Development Project be funded as provided in the other sections of this Agreement, including Article XIV, and the cost of acquiring new properties be funded through such sources of financing as shall be determined by the Board.
Stonebriar Centre mortgage loan is comprised of separate notes that are being sold by ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Company and Societe Generale Financial Corporation.