夹层贷款协议.docx
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夹层贷款协议
EX-10.16 17 d368735dex1016.htm MEZZANINELOANAGREEMENT
EXHIBIT10.16
LoanNo. 10061253
MEZZANINELOANAGREEMENT
DatedasofJune 13,2012
Between
TNPSRTPORTFOLIOIIHOLDINGS,LLC
asBorrower
and
KEYBANKNATIONALASSOCIATION,
asLender
TABLEOFCONTENTS
Page
ARTICLEI-DEFINITIONS;PRINCIPLESOFCONSTRUCTION
1
Section 1.1
Definitions
1
Section 1.2
PrinciplesofConstruction
26
ARTICLEII-GENERALTERMS
27
Section 2.1
LoanCommitment;DisbursementtoBorrower
27
2.1.1
AgreementtoLendandBorrow
27
2.1.2
SingleDisbursementtoBorrower
27
2.1.3
TheNote,PledgeAgreementandLoanDocuments
27
2.1.4
UseofProceeds
27
Section 2.2
InterestRate
27
2.2.1
InterestRate
27
2.2.2
InterestCalculation
27
2.2.3
DefaultRate
28
2.2.4
UsurySavings
28
Section 2.3
LoanPayment
28
Section 2.4
Prepayments
29
Section 2.5
LiquidationEvents
29
Section 2.6
LockboxAccount/CashManagement
29
2.5.1
LockboxAccount
29
2.6.2
CashManagement
30
2.6.3
MezzanineCollectionAccount
31
ARTICLEIII-CONDITIONSPRECEDENTTOCLOSING
32
ARTICLEIV-REPRESENTATIONSANDWARRANTIES
32
Section 4.1
BorrowerRepresentations
32
4.1.1
Organization
32
4.1.2
Proceedings
33
4.1.3
NoConflicts
33
4.1.4
Litigation
33
4.1.5
Agreements
33
4.1.6
UCCInsurance;MezzanineLenderEndorsement
34
4.1.7
Solvency
34
4.1.8
FullandAccurateDisclosure
35
4.1.9
NoPlanAssets
35
4.1.10
Compliance
35
4.1.11
FinancialInformation
35
4.1.12
Condemnation
36
4.1.13
FederalReserveRegulations
36
4.1.14
NotaForeignPerson
36
4.1.15
Enforceability
36
4.1.16
NoPriorAssignment
36
4.1.17
Insurance
36
i
4.1.18
Leases
36
4.1.19
FilingandRecordingTaxes
37
4.1.20
SpecialPurposeEntity/Separateness
37
4.1.21
ManagementAgreement
38
4.1.22
IllegalActivity
38
4.1.23
NoChangeinFactsorCircumstances;Disclosure
38
4.1.24
InvestmentCompanyAct
38
4.1.25
EmbargoedPerson
38
4.1.26
PrincipalPlaceofBusiness;StateofOrganization
39
4.1.27
MortgageLoanRepresentationsandWarranties
39
4.1.28
TitleInsuranceProceeds
39
Section 4.2
SurvivalofRepresentations
39
ARTICLEV-BORROWERCOVENANTS
39
Section 5.1
AffirmativeCovenants
39
5.1.1
Existence;CompliancewithLegalRequirements
39
5.1.2
TaxesandOtherCharges
40
5.1.3
Litigation
41
5.1.4
AccesstoProperty
41
5.1.5
NoticeofDefault
41
5.1.6
CooperateinLegalProceedings
41
5.1.7
PerformLoanDocuments
42
5.1.8
FurtherAssurances
42
5.1.9
PrincipalPlaceofBusiness,StateofOrganization
42
5.1.10
FinancialReporting
43
5.1.11
BusinessandOperations
45
5.1.12
TitletotheProperty
45
5.1.13
CostsofEnforcement
45
5.1.14
EstoppelStatement
45
5.1.15
LoanProceeds
46
5.1.16
PerformancebyBorrower
46
5.1.17
LeasingMatters
47
5.1.18
Alterations
47
5.1.19
OperationofProperty
48
5.1.20
EmbargoedPerson
49
5.1.21
MortgageLoanReserveFunds
49
5.1.22
SpecialDistributions
49
5.1.23
Curing
49
5.1.24
EnvironmentalCovenants
50
5.1.25
MortgageBorrowerCovenants
52
Section 5.2
NegativeCovenants
52
5.2.1
OperationofProperty
52
5.2.2
Liens
52
5.2.3
Dissolution
52
5.2.4
ChangeInBusiness
53
5.2.5
DebtCancellation
53
5.2.6
Zoning
53
ii
5.2.7
NoJointAssessment
53
5.2.8
ERISA
53
5.2.9
Transfers
54
5.2.10
LimitationsonDistributions
57
5.2.11
LostNote
57
5.2.12
LimitationonSecuritiesIssuances
57
ARTICLEVI-INSURANCE;CASUALTY;CONDEMNATION
58
Section 6.1
Insurance
58
Section 6.2
Casualty
58
Section 6.3
Condemnation
58
Section 6.4
Restoration
59
ARTICLEVII-RESERVEFUNDS
59
Section 7.1
TransferofReserveFundsunderMortgageLoan
59
Section 7.2
TaxandInsuranceEscrowFund
60
Section 7.3
ReplacementsandReplacementReserve
60
7.3.1
ReplacementReserveFund
60
7.3.2
DisbursementsfromReplacementReserveAccount
61
7.3.3
PerformanceofReplacements
62
7.3.4
FailuretoMakeReplacements
64
7.3.5
BalanceintheReplacementReserveAccount
65
7.3.6
WaiverofDepositstotheReplacementReserveAccount
65
Section 7.4
RolloverReserve
65
7.4.1
DepositstoRolloverReserveFund
65
7.4.2
WithdrawalofRolloverReserveFunds
65
7.4.3
WaiverofRolloverReserveFund
65
Section 7.5
ExcessCashFlowReserveFund
66
7.5.1
DepositstoExcessCashFlowReserveFund
66
7.5.2
ReleaseofExcessCashFlowReserveFunds
67
Section 7.6
ReserveFunds,Generally
67
ARTICLEVIII-DEFAULTS
68
Section 8.1
EventofDefault
68
Section 8.2
Remedies
70
Section 8.3
RemediesCumulative;Waivers
73
ARTICLEIX-SPECIALPROVISIONS
73
Section 9.1
Securitization
73
9.1.1
SaleofNotesandSecuritization
73
9.1.2
SecuritizationCosts
75
Section 9.2
RighttoReleaseInformation
75
Section 9.3
Exculpation
75
Section 9.4
MattersConcerningManager
75
Section 9.5
Servicer
75
Section 9.6
DisseminationofInformation
76
ARTICLEX-MISCELLANEOUS
76
Section 10.1
Survival
76
iii
Section 10.2
Lender’sDiscretion
77
Section 10.3
GoverningLaw
77
Section 10.4
Modification,WaiverinWriting
77
Section 10.5
DelayNotaWaiver
77
Section 10.6
Notices
78
Section 10.7
TrialbyJury
79
Section 10.8
Headings
79
Section 10.9
Severability
79
Section 10.10
Preferences
79
Section 10.11
WaiverofNotice
79
Section 10.12
RemediesofBorrower
80
Section 10.13
Expenses;Indemnity
80
Section 10.14
SchedulesIncorporated
81
Section 10.15
Offsets,CounterclaimsandDefenses
81
Section 10.16
NoJointVentureorPartnership;NoThirdParty.Beneficiaries
81
Section 10.17
Publicity
82
Section 10.18
WaiverofMarshallingofAssets
82
Section 10.19
WaiverofCounterclaim
82
Section 10.20
Conflict;ConstructionofDocuments;Reliance
82
Section 10.21
BrokersandFinancialAdvisors
83
Section 10.22
PriorAgreements
83
Section 10.23
Liability
83
Section 10.24
CertainAdditionalRightsofLender（VCOC）
83
Section 10.25
OFAC
84
Section 10.26
DuplicateOriginals;Counterparts
84
ARTICLEXI-SPECIALPROVISIONS
84
Section 11.1
TheMortgageLoanandAdditionalMatters
84
11.1.1
CompliancewithMortgageLoanDocuments
84
11.1.2
OtherLimitations
85
11.1.3
AdditionalRepresentationsandWarranties
86
11.1.4
MortgageLoanDefaults
86
11.1.5
AcquisitionoftheMortgageLoan
87
11.1.6
DeedinLieuofForeclosure
87
11.1.7
RefinancingorPrepaymentoftheMortgageLoan
88
11.1.8
IntercreditorAgreement
88
11.1.9
IndependentApprovalRights
88
iv
SCHEDULES
Schedule I
–
RentRoll
Schedule II
–
OrganizationalChartofBorrower
v
夹层贷款协议本
夹层贷款协议，日截至2012年6月13日（经修正，重申、替换、补充或否则时而不时修改这《协议》），之间一路全国协会、全国银行协会、具有地址在11501Outlook、套房300、欧弗兰帕克、堪萨斯66211（连同与其继承人和，"贷款人"）和TNPSRT组合II控股，有限责任公司特拉华州有限责任公司，其主要营业地的业务1900主街，套房700，欧文，加州92614（"借款人"）。
WITNESSETh：
反之，借款人渴望从放款人；获得贷款（定义见下文）并且，而贷款人是愿意向借款人，贷款，遵守并按照本协议及其它贷款文件（定义见下文）的职权范围。
现在因此，考虑由贷款人和公约、协议、陈述和保证本协议所述贷款作出时，缔约方双方契约、同意、代表和保证，如下所示：
第一条定义；建设的原则。
1.1定义。
为所有目的本协定中，都除非另有明确要求，或除非上下文明确指出有相反的意思：
"权责发生制期间"指期间开始和包括第一
（1）一天的每个日历月期限内的贷款和结束，包括这种日历月
升级会员 