Subordinate Mezzanine Loan definition
Subordinate Mezzanine Loan shall have the meaning set forth in Section 5.2.10(f) hereof.
Subordinate Mezzanine Loan. Any mezzanine financing incurred by certain direct or indirect owners of the Borrower, secured by a pledge of their direct or indirect ownership interests in the Borrower.
Subordinate Mezzanine Loan means a loan or loans to the Partner Borrowers secured, in whole or in part, by (i) a pledge of their partnership interests in Borrower, (ii) a pledge of the stock of the corporations which are the managing members of the general partners of Borrower and/or (iii) a pledge of the membership interests held by the non-managing members of the general partners of Borrower, which loan and pledges are subordinate to the Mezzanine Loan and which in all respects (including, without limitation, the amount thereof the interest rate and the holder thereof) has been approved by Lender in its sole discretion (if such Subordinate Mezzanine Loan shall be entered into prior to a Securitization) or by the Rating Agencies in their sole discretion and as to which the Rating Agencies shall have issued a Rating Confirmation (if such Subordinate Mezzanine Loan shall be entered into after a Securitization). As a condition precedent to the approval of Lender or the Rating Agencies, either Lender or the Rating Agencies may require amendments to the Loan Documents.
Examples of Subordinate Mezzanine Loan in a sentence
Borrower shall deliver to Lender copies of all modifications to the Mezzanine Loan Documents or to the documents evidencing or securing any Subordinate Mezzanine Loan within five (5) Business Days after execution thereof.
Neither the Mezzanine Loan nor any Subordinate Mezzanine Loan may be modified, changed, supplemented, altered or amended in any respect which is materially adverse to Lender without the prior consent of Lender, which consent may be withheld in its sole discretion.
The final capital structure of the Subordinate Mezzanine Loan is subject in all respects to Lender’s and the Rating Agencies’ approval, including, without limitation, the organizational structure of Borrower and the Mezzanine Lender.
More Definitions of Subordinate Mezzanine Loan
Subordinate Mezzanine Loan has the meaning set forth in the DD Operating Agreement.