Junior Mezzanine Loan Sample Clauses

Junior Mezzanine Loan. Junior Mezzanine Lender hereby acknowledges that (i) no Mezzanine Borrower other than Junior Mezzanine Borrower shall have any liability or obligation whatsoever with respect to the Junior Mezzanine Note or otherwise in connection with the payment of the Junior Mezzanine Loan; (ii) the Junior Mezzanine Loan does not constitute or impose, and shall not be deemed or construed as constituting or imposing now or hereafter, a lien or encumbrance upon, or security interest in any portion of the Separate Collateral securing any Mezzanine Loan other than the Junior Mezzanine Loan; (iii) the Junior Mezzanine Loan does not grant to Junior Mezzanine Lender the status as a creditor of any Mezzanine Borrower other than Junior Mezzanine Borrower; (iv) Junior Mezzanine Lender shall not, as holder of a Mezzanine Loan, assert, claim or raise as a defense, any such lien, encumbrance or security interest in the Separate Collateral securing the any Mezzanine Loan other than the Junior Mezzanine Loan; (v) Junior Mezzanine Lender shall not, as holder of a Mezzanine Loan, assert, claim or raise as a defense any status as a creditor of any Mezzanine Borrower other than Junior Mezzanine Borrower in any action or proceeding, including any insolvency or bankruptcy proceeding commenced by or against Junior Mezzanine Borrower; and (vi) Junior Mezzanine Lender shall not assert, pursue, confirm or acquiesce in any way to any recharacterization of the Junior Mezzanine Loan as having conferred upon Junior Mezzanine Lender any lien or encumbrance upon, or security interest in, the Separate Collateral securing any Mezzanine Loan other than the Junior Mezzanine Loan or as having conferred upon Junior Mezzanine Lender the status of a creditor of any Mezzanine Borrower other than Junior Mezzanine Borrower.
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Junior Mezzanine Loan. Defined in the Recitals.
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Junior Mezzanine Loan. Junior Mezzanine Borrower is permitted to obtain the Junior Mezzanine Loan, subject to the terms of the Junior Loan Intercreditor Agreement.
Sample 1
Junior Mezzanine Loan. Subject to the provisions of this Section 2.15, Borrower shall have the right, at no cost or expense to Lender, to obtain an additional junior mezzanine loan (the “Approved Junior Mezzanine Loan”) with respect to the Mortgaged Property. The initial principal amount of the Approved Junior Mezzanine Loan shall not be greater than the lesser of (x) $25,000,000 and (y) the amount that when combined with the outstanding Principal Indebtedness and the outstanding First Mortgage Principal Indebtedness causes the aggregate amount of debt financing secured directly or indirectly by the Mortgaged Property to equal 80% of Borrower’s Basis in the Mortgaged Property. The closing of the Approved Junior Mezzanine Loan shall be subject to the following conditions precedent: (x) Borrower shall have obtained the prior approval of the Lender with respect to the identity of the Lender under the Junior Mezzanine Loan (the “Approved Junior Mezzanine Lender”) and the terms of the Approved Junior Mezzanine Loan, such approval not to be unreasonably withheld or delayed, (y) if the First Mortgage Loan has been included in a Secondary Market Transaction (as such term is defined in the First Mortgage Loan Agreement) in which Securities (as such term is defined in the First Mortgage Loan Agreement) were issued, First Mortgage Borrower shall have delivered to First Mortgage Lender a First Mortgage Rating Confirmation and (z) Borrower shall have paid all out-of-pocket expenses incurred by the Lender in connection with the transaction. In connection with any Junior Mezzanine Loan,
Sample 1
Junior Mezzanine Loan. (a) Borrower and Lender are entering into the Junior Mezzanine Loan Agreement contemporaneously with this Agreement. Under this Agreement and the Junior Mezzanine Loan Agreement, Lender may advance to Borrower an aggregate maximum principal amount up to, but not in excess of, the Maximum Aggregate Advance Amount. The Borrower and Lender agree that, at any given time, any principal amounts advanced to Borrower by Lender under this Agreement and the Junior Mezzanine Loan Agreement shall be allocated as follows:
Sample 1

Related to Junior Mezzanine Loan

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • Supplemental Loan If this Loan Agreement is entered into in connection with a Supplemental Loan and if the same Person is or becomes both Senior Lender and Supplemental Lender, then:

  • Whole Loan Each Mortgage Loan is a whole loan and not a participation interest in a mortgage loan.

  • Refinancing Term Loans (a) The Borrower may by written notice to Administrative Agent elect to request the establishment of one or more additional tranches of term loans denominated in Dollars under this Agreement (“Refinancing Term Loans”) to refinance an outstanding Class of Term Loans. Each such notice shall specify the date (each, a “Refinancing Effective Date”) on which the Borrower proposes that the Refinancing Term Loans shall be made, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent; provided that:

  • Refinancing Debt Borrowed Money that is the result of an extension, renewal or refinancing of Debt permitted under Section 10.2.1(b), (d) or (f).

  • Asset Dispositions, etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, transfer, contribute or otherwise convey, or grant options, warrants or other rights with respect to, any material asset (including accounts receivable and capital stock of Principal Subsidiaries) to any Person, except:

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Existing Indebtedness; Future Liens (a) Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of the Company and its Subsidiaries as of the dates specified in such Schedule (and specifying, as to each such Indebtedness, the collateral, if any, securing such Indebtedness), since which date there has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company or its Subsidiaries. Neither the Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness of the Company or any Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment.

  • Bridge Loan The proceeds of the Bridge Loan shall be applied by the Company, together with borrowings under the Credit Agreement, to the payment of the Transaction Costs, to pay for the Acquisitions, to consummate the Tender Offer and to repay other outstanding Indebtedness of the Company.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

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