Required Terms. With respect to each Mezzanine Loan, (x) the related Mortgage Loan contains a requirement that any principal repayment of such Mortgage Loan must be accompanied by a pro rata principal repayment (based on outstanding principal balance) of such Mezzanine Loan, (y) a default under the related Mortgage Loan constitutes a default under such Mezzanine Loan and (z) the related Mortgage Loan and such Mezzanine Loan are coterminous.
Appears in 3 contracts
Sources: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Starwood Property Trust, Inc.)
Required Terms. With respect to each Mezzanine Loan, (x) the related Mortgage Loan contains a requirement that any principal repayment of such the Mortgage Loan must be accompanied by a pro rata principal repayment (based on outstanding principal balance) of such the related Mezzanine Loan, (y) a default under the related Mortgage Loan constitutes a default under such Mezzanine Loan and (z) the related Mortgage Loan and such the related Mezzanine Loan are coterminous.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Franklin BSP Real Estate Debt, Inc.), Master Repurchase Agreement (Franklin BSP Real Estate Debt BDC)
Required Terms. With respect to each Mezzanine Loan, (x) the related Mortgage Loan contains a requirement that any principal repayment of such the Mortgage Loan must Ex. V-50 BUSINESS.31481134.1132540646.2 be accompanied by a pro rata principal repayment (based on outstanding principal balance) of such the related Mezzanine Loan, (y) a default under the related Mortgage Loan constitutes a default Ex. V-51 BUSINESS.31481134.1132540646.2 under such Mezzanine Loan and (z) the related Mortgage Loan and such the related Mezzanine Loan are coterminous.
Appears in 1 contract
Sources: Master Repurchase Agreement (Franklin BSP Real Estate Debt BDC)
Required Terms. With respect to each Mezzanine Loan, (x) the related Mortgage Loan contains a requirement that any principal repayment of such Mortgage Loan must be accompanied by a pro rata principal repayment (based on outstanding principal balance) of the such Mezzanine Loan, (y) a default under the related Mortgage Loan constitutes a default under such Mezzanine Loan and (z) the related Mortgage Loan and such Mezzanine Loan are coterminous.
Appears in 1 contract
Sources: Master Repurchase Agreement (TPG RE Finance Trust, Inc.)