夹层贷款协议doc.docx
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夹层贷款协议doc.docx
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夹层贷款协议doc
夹层贷款协议
精选资料EX ddexhtm MEZZANINELOANAGREEMENTEXHIBITLoanNo MEZZANINELOANAGREEMENTDatedasofJune ,BetweenTNPSRTPORTFOLIOIIHOLDINGS,LLCasBorrowerandKEYBANKNATIONALASSOCIATION,asLenderTABLEOFCONTENTS Page ARTICLEIDEFINITIONSPRINCIPLESOFCONSTRUCTION Section Definitions Section PrinciplesofConstruction ARTICLEIIGENERALTERMS Section LoanCommitmentDisbursementtoBorrower AgreementtoLendandBorrow SingleDisbursementtoBorrower TheNote,PledgeAgreementandLoanDocuments UseofProceeds Section InterestRate InterestRate InterestCalculation DefaultRate UsurySavings Section LoanPayment Section Prepayments Section LiquidationEvents Section LockboxAccountCashManagement LockboxAccount CashManagement MezzanineCollectionAccount ARTICLEIIICONDITIONSPRECEDENTTOCLOSING ARTICLEIVREPRESENTATIONSANDWARRANTIES Section BorrowerRepresentations Organization Proceedings NoComplatedherebyandthereby,andallprioragreementsamongorbetweensuchparties,whetheroralorwritten,betweenBorrowerandLenderaresupersededbythetermsofthisAgreementandtheotherLoanDocumentsSection LiabilityIfBorrowerconsistsofmorethanone() PersontheobligationsandliabilitiesofeachPersonshallbejointandseveralUndernocircumstanceswhatsoevershallLenderhaveanyliabilityforpunitive,special,consequentialorincidentaldamagesinconnectionwith,arisingoutof,orinanywayrelatedtoorunderthisAgreementoranyotherLoanDocumentorinanywayrelatedtothetransactionscontemplatedoranyrelationshipestablishedbythisAgreementoranyotherLoanDocumentoranyact,omissionoreventoccurringinconnectionherewithortherewith,and,totheextentnotexpresslyprohibitedbyapplicablelaws,BorrowerforitselfanditsGuarantorsandindemnitorswaivesallclaimsforpunitive,special,consequentialorincidentaldamagesLendershallhavenodutiesorresponsibilitiesexceptthoseexpresslysetforthinthisAgreement,thePledgeAgreementandtheotherLoanDocumentsNeitherLendernoranyofitsofficers,directors,employeesoragentsshallbeliableforanyactiontakenoromittedbythemassuchhereunderorinconnectionherewith,unlesscausedbytheirgrossnegligenceorwillfulmisconductThisAgreementshallbebindinguponandinuretothebenefitofBorrowerandLenderandtheirrespectivesuccessorsandassignsforeverSection CertainAdditionalRightsofLender(VCOC)NotwithstandinganythingtothecontrarycontainedinthisAgreement,Lendershallhave:
(a)therighttoroutinelyconsultwithandadviseBorrower’smanagementregardingthesignificantbusinessactivitiesandbusinessandfinancialdevelopmentsofBorrower provided, however,thatsuchconsultationsshallnotincludediscussionsofenvironmentalcomplianceprogramsordisposalofhazardoussubstancesConsultationmeetingsshouldoccuronaregularbasis(nolessfrequentlythanquarterly)withLenderhavingtherighttocallspecialmeetingsatanyreasonabletimesanduponreasonableadvancenotice (b)theright,inaccordancewiththetermsofthisAgreement,toexaminethebooksandrecordsofBorroweratanyreasonabletimesuponreasonablenotice(c)theright,inaccordancewiththetermsofthisAgreement,including Section hereof,toreceivemonthly,quarterlyandyearendfinancialreports,includingbalancesheets,statementsofincome,shareholder’sequityandcashflow,amanagementreportandschedulesofoutstandingindebtednessand(d)theright,withoutrestrictinganyotherrightsofLenderunderthisAgreement(includinganysimilarright),toapproveanyacquisitionbyBorrowerofanyothersignificantproperty(otherthanpersonalpropertyrequiredforthedaytodayoperationoftheProperty)Therightsdescribedaboveinthis Section maybeexercisedbyanyentitywhichownsandcontrols,directlyorindirectly,substantiallyalloftheinterestsinLenderSection OFACBorrowerherebyrepresents,warrantsandcovenantsthatneitherBorrowernoranyGuarantoris(orwillbe)apersonwithwhomLenderisrestrictedfromdoingbusinessunderregulationsoftheOfficeofForeignAssetControl(“OFAC”)oftheDepartmentoftheTreasuryoftheUnitedStatesofAmerica(including,thosePersonsnamedonOFAC’sSpeciallyDesignatedandBlockedPersonslist)orunderanystatute,executiveorder(including,theSeptember ,ExecutiveOrderBlockingPropertyandProhibitingTransactionsWithPersonsWhoCommit,ThreatentoCommit,orSupportTerrorism),orothergovernmentalactionandisnotandshallnotengageinanydealingsortransactionsorotherwisebeassociatedwithsuchpersonsInaddition,BorrowerherebycovenantstoprovideLenderwithanyadditionalinformationthatLenderdeemsnecessaryfromtimetotimeinordertoensurecompliancewithallapplicablelawsconcerningmoneylaunderingandsimilaractivitiesSection DuplicateOriginalsCounterpartsThisAgreementmaybeexecutedinanynumberofduplicateoriginalsandeachduplicateoriginalshallbedeemedtobeanoriginalThisAgreementmaybeexecutedinseveralcounterparts,eachofwhichcounterpartshallbedeemedanoriginalinstrumentandallofwhichtogethershallconstituteasingleAgreementThefailureofanypartyheretotoexecutethisAgreement,oranycounterparthereof,shallnotrelievetheothersignatoriesfromtheirobligationshereunderARTICLEXISPECIALPROVISIONSSection TheMortgageLoanandAdditionalMatters CompliancewithMortgageLoanDocumentsBorrowershallcauseMortgageBorrowerto:
(i) payallprincipal,interestandothersumsrequiredtobepaidbyMortgageBorrowerunderand pursuanttotheprovisionsoftheMortgageLoanDocuments(ii) diligentlyperformandobservealloftheterms,covenantsandconditionsoftheMortgageLoanDocumentsonthepartofMortgageBorrowertobeperformedandobserved(iii) promptlydelivertoLender(A) atrueandcompletecopyofanynoticebyMortgageLendertoMortgageBorrower,Borrower,orGuarantorofanydefaultundertheMortgageLoanorMortgageLoanDefaultbyMortgageBorrowerundertheMortgageLoanDocumentsandofanyothermaterialwrittencorrespondence(includingelectronicallytransmitteditems)givenorreceivedbyMortgageBorrowerorGuarantortoorfromtheMortgageLenderoritsagents,or(B) noticeofachangeinthebusiness,operations,propertyorfinancialorotherconditionorprospectsofBorrower,MortgageBorrower,orGuarantorthatcouldreasonablybeexpectedtohaveamaterialadverseeffectonBorrower,theabilityofBorrowertoperformitsobligationsundertheLoanDocumentsortherightsandremediesofLenderundertheLoanDocuments OtherLimitationsPriortothepaymentinfulloftheDebt,neitherBorrowernorMortgageBorrowershall,withoutthepriorwrittenconsentofLender(whichmaybefurnishedorwithheldatitsdiscretion),giveitsconsentorapprovaltoanyofthefollowingactionsoritems:
(i)exceptaspermittedbyLenderherein(A) anyrefinanceoftheMortgageLoan,(ii) anyprepaymentinfulloftheMortgageLoan,(B) anyTransferofanyorallofthePropertyorCollateraloranyportionthereof,or(C) anyactioninconnectionwithorinfurtheranceoftheforegoing(ii)thecreationorincurrenceofanyLienonanyportionofthePropertyexceptforPermittedEncumbrances(iii)themodification,amendment,consolidation,spread,restatement,waiverorterminationofanyoftheMortgageLoanDocuments(iv)thetermsofanyAnnualBudget(v)thedistributiontothepartners,membersorshareholdersofMortgageBorrowerofpropertyotherthancash(vi)exceptassetforthinanApprovedAnnualBudgetoraspermittedundertheMortgageLoanDocuments,any(A) improvement,renovationorrefurbishmentofalloranypartofthePropertytoamateriallyhigherstandardorlevelthanthatofcomparablepropertiesinthesamemarketsegmentandinthesamegeographicalareaastheProperty,(B) removal,demolitionormaterialalterationoftheImprovementsorequipmentonthePropertyor(C) materialincreaseinthesquarefootageorgrossleasableareaoftheImprovementsifamaterialportionofanyoftheexpensesinconnectiontherewitharepaidorincurredbyMortgageBorrower(vii)anymaterialchangeinthemethodofconductofthebusinessofBorrowerorMortgageBorrower (viii)thesettlementofanyclaimagainstBorrowerorMortgageBorrower,otherthanafullyinsuredthirdpartyclaim,inanyamountgreaterthan$,(inthecaseofBorrower)or$,(inthecaseofMortgageBorrower)(ix)exceptasrequiredbytheMortgageLoanDocuments,anydeterminationtorestorethePropertyafteraCasualtyorCondemnationAnybreachorattemptedbreachofthis Section shallconstituteanimmediateEventofDefaulthereunder AdditionalRepresentationsandWarrantiesTheoutstandingprincipalbalanceoftheMortgageLoan,asoftheClosingDate,is$,,Nodefault,breach,orviolationhasoccurredundertheMortgageLoanandnoMortgageLoanDefaulthasoccurredundertheMortgageLoanAgreementwhichremainsuncuredorunwaived,andnocircumstance,eventorconditionhasoccurredorexistswhich,withthegivingofnoticeandortheorthepassagetimewouldconstituteaMortgageLoanDefaultEachandeveryrepresentationandwarrantyofMortgageBorrowercontainedinanyoneormoreoftheMortgageLoanDocumentsistrue,correctandcompleteinallmaterialrespectsasofthedatehereof MortgageLoanDefaults(i)BorroweragreestonotifyLenderpromptlyupontheoccurrenceofanyMortgageLoanDefaultUpontheoccurrenceandduringthecontinuationofaMortgageLoanDefault,inadditionto Section above,BorroweragreesthatLendershallhavetheimmediateright,withoutpriornoticetoBorrower,butshallbeundernoobligationto(A) payalloranypartoftheMortgageLoanandanyothersumsthatarethendueandpayable,andperformanyactortakeanyactiononbehalfofBorrowerandorMortgageBorrowerasmaybeappropriate,tocausealloftheterms,covenantsandconditionsoftheMortgageLoanDocumentsonthepartofMortgageBorrowertobeperformedorobservedthereundertobepromptlyperformedorobserved,and(B) payanyotheramountsandtakeanyotheractionasLender,initsdiscretion,shalldeemadvisabletoprotectorpreservetherightsandinterestsofLenderintheLoanandortheCollateralBorrowershallnotimpede,interferewith,hinderordelay,andshallnotpermitMortgageBorrowertoimpede,interferewith,hinderordelay,anyeffortoractiononthepartofLendertocureanydefaultorasserteddefaultundertheMortgageLoanoranyMortgageLoanDefault,ortootherwiseprotectorpreserveLender’sinterestsintheLoanandtheCollateralfollowingaMortgageLoanDefault(ii)BorrowerherebygrantsLenderanditsdesigneestherighttoenteruponthePropertyatanytimefollowingtheoccurrenceandduringthecontinuanceofanydefault,orthereasonableassertionbyMortgageLenderthatadefaulthasoccurred,undertheMortgageLoanDocuments,oranyMortgageLoanDefault,forthepurposeoftakinganysuchactionortoappearin,defendorbringanyactionorproceedingtoprotectLender’sinterestLendermaytakesuchactionasLenderdeemsreasonablynecessaryordesirabletocarryouttheintentsandpurposesofthissubsecti
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