夾層貸款協(xié)議參考

1、夾層貸款協(xié)議夾層貸款協(xié)議夾層貸款協(xié)議EX-10.1617d368735dex1016.htmMEZZANINE LOAN AGREEMENTEXHIBIT 10.16Loan No.10061253MEZZANINE LOAN AGREEMENTDated as of June13, 2012BetweenTNP SRT PORTFOLIO II HOLDINGS, LLCas BorrowerandKEYBANK NATIONAL ASSOCIATION,as LenderTABLE OF CONTENTSPageARTICLE I - DEFINITIONS; PRINCIPLES OF

2、CONSTRUCTION1Section1.1Definitions1Section1.2Principles of Construction26ARTICLE II - GENERAL TERMS27Section2.1Loan Commitment; Disbursement to Borrower272.1.1Agreement to Lend and Borrow272.1.2Single Disbursement to Borrower272.1.3The Note, Pledge Agreement and Loan Documents272.1.4Use of Proceeds2

3、7Section2.2Interest Rate272.2.1Interest Rate272.2.2Interest Calculation272.2.3Default Rate282.2.4Usury Savings28Section2.3Loan Payment28Section2.4Prepayments29Section2.5Liquidation Events29Section2.6Lockbox Account/Cash Management292.5.1Lockbox Account292.6.2Cash Management302.6.3Mezzanine Collectio

4、n Account31ARTICLE III - CONDITIONS PRECEDENT TO CLOSING32ARTICLE IV - REPRESENTATIONS AND WARRANTIES32Section4.1Borrower Representations324.1.1Organization324.1.2Proceedings334.1.3No Conflicts334.1.4Litigation334.1.5Agreements334.1.6UCC Insurance; Mezzanine Lender Endorsement344.1.7Solvency344.1.8F

5、ull and Accurate Disclosure354.1.9No Plan Assets354.1.10Compliance354.1.11Financial Information354.1.12Condemnation364.1.13Federal Reserve Regulations364.1.14Not a Foreign Person364.1.15Enforceability364.1.16No Prior Assignment364.1.17Insurance36i4.1.18Leases364.1.19Filing and Recording Taxes374.1.2

6、0Special Purpose Entity/Separateness374.1.21Management Agreement384.1.22Illegal Activity384.1.23No Change in Facts or Circumstances; Disclosure384.1.24Investment Company Act384.1.25Embargoed Person384.1.26Principal Place of Business; State of Organization394.1.27Mortgage Loan Representations and War

7、ranties394.1.28Title Insurance Proceeds39Section4.2Survival of Representations39ARTICLE V - BORROWER COVENANTS39Section5.1Affirmative Covenants395.1.1Existence; Compliance with Legal Requirements395.1.2Taxes and Other Charges405.1.3Litigation415.1.4Access to Property415.1.5Notice of Default415.1.6Co

8、operate in Legal Proceedings415.1.7Perform Loan Documents425.1.8Further Assurances425.1.9Principal Place of Business, State of Organization425.1.10Financial Reporting435.1.11Business and Operations455.1.12Title to the Property455.1.13Costs of Enforcement455.1.14Estoppel Statement455.1.15Loan Proceed

9、s465.1.16Performance by Borrower465.1.17Leasing Matters475.1.18Alterations475.1.19Operation of Property485.1.20Embargoed Person495.1.21Mortgage Loan Reserve Funds495.1.22Special Distributions495.1.23Curing495.1.24Environmental Covenants505.1.25Mortgage Borrower Covenants52Section5.2Negative Covenant

10、s525.2.1Operation of Property525.2.2Liens525.2.3Dissolution525.2.4Change In Business535.2.5Debt Cancellation535.2.6Zoning53ii5.2.7No Joint Assessment535.2.8ERISA535.2.9Transfers545.2.10Limitations on Distributions575.2.11Lost Note575.2.12Limitation on Securities Issuances57ARTICLE VI - INSURANCE; CA

11、SUALTY; CONDEMNATION58Section6.1Insurance58Section6.2Casualty58Section6.3Condemnation58Section6.4Restoration59ARTICLE VII - RESERVE FUNDS59Section7.1Transfer of Reserve Funds under Mortgage Loan59Section7.2Tax and Insurance Escrow Fund60Section7.3Replacements and Replacement Reserve607.3.1Replacemen

12、t Reserve Fund607.3.2Disbursements from Replacement Reserve Account617.3.3Performance of Replacements627.3.4Failure to Make Replacements647.3.5Balance in the Replacement Reserve Account657.3.6Waiver of Deposits to the Replacement Reserve Account65Section7.4Rollover Reserve657.4.1Deposits to Rollover

13、 Reserve Fund657.4.2Withdrawal of Rollover Reserve Funds657.4.3Waiver of Rollover Reserve Fund65Section7.5Excess Cash Flow Reserve Fund667.5.1Deposits to Excess Cash Flow Reserve Fund667.5.2Release of Excess Cash Flow Reserve Funds67Section7.6Reserve Funds, Generally67ARTICLE VIII - DEFAULTS68Sectio

14、n8.1Event of Default68Section8.2Remedies70Section8.3Remedies Cumulative; Waivers73ARTICLE IX - SPECIAL PROVISIONS73Section9.1Securitization739.1.1Sale of Notes and Securitization739.1.2Securitization Costs75Section9.2Right to Release Information75Section9.3Exculpation75Section9.4Matters Concerning M

15、anager75Section9.5Servicer75Section9.6Dissemination of Information76ARTICLE X - MISCELLANEOUS76Section10.1Survival76iiiSection10.2Lenders Discretion77Section10.3Governing Law77Section10.4Modification, Waiver in Writing77Section10.5Delay Not a Waiver77Section10.6Notices78Section10.7Trial by Jury79Sec

16、tion10.8Headings79Section10.9Severability79Section10.10Preferences79Section10.11Waiver of Notice79Section10.12Remedies of Borrower80Section10.13Expenses; Indemnity80Section10.14Schedules Incorporated81Section10.15Offsets, Counterclaims and Defenses81Section10.16No Joint Venture or Partnership; No Th

17、ird Party .Beneficiaries81Section10.17Publicity82Section10.18Waiver of Marshalling of Assets82Section10.19Waiver of Counterclaim82Section10.20Conflict; Construction of Documents; Reliance82Section10.21Brokers and Financial Advisors83Section10.22Prior Agreements83Section10.23Liability83Section10.24Ce

18、rtain Additional Rights of Lender (VCOC)83Section10.25OFAC84Section10.26Duplicate Originals; Counterparts84ARTICLE XI - SPECIAL PROVISIONS84Section11.1The Mortgage Loan and Additional Matters8411.1.1Compliance with Mortgage Loan Documents8411.1.2Other Limitations8511.1.3Additional Representations an

19、d Warranties8611.1.4Mortgage Loan Defaults8611.1.5Acquisition of the Mortgage Loan8711.1.6Deed in Lieu of Foreclosure8711.1.7Refinancing or Prepayment of the Mortgage Loan8811.1.8Intercreditor Agreement8811.1.9Independent Approval Rights88ivSCHEDULESScheduleIRent RollScheduleIIOrganizational Chart o

20、f Borrowerv夾層貸款協(xié)議本夾層貸款協(xié)議，日截至 2012 年 6 月 13 日 （經(jīng)修正，重申、 替換、 補(bǔ)充或否則時(shí)而不時(shí)修改這 協(xié)議 ），之間一路全國協(xié)會(huì)、 全國銀行協(xié)會(huì)、 具有地址在 11501 Outlook、 套房 300、 歐弗蘭帕克、 堪薩斯 66211 （連同與其繼承人和，貸款人） 和 TNP SRT 組合 II 控股，有限責(zé)任公司特拉華州有限責(zé)任公司，其主要營業(yè)地的業(yè)務(wù) 1900 主街，套房 700，歐文，加州 92614 (借款人)。WITNESSETh：反之，借款人渴望從放款人 ； 獲得貸款 （定義見下文）并且，而貸款人是愿意向借款人，貸款，遵守并按照本協(xié)議及其

21、它貸款文件 （定義見下文） 的職權(quán)范圍?，F(xiàn)在因此，考慮由貸款人和公約、 協(xié)議、 陳述和保證本協(xié)議所述貸款作出時(shí)，締約方雙方契約、 同意、 代表和保證，如下所示：第一條 定義 ；建設(shè)的原則。1.1 定義。為所有目的本協(xié)定中，都除非另有明確要求，或除非上下文明確指出有相反的意思：權(quán)責(zé)發(fā)生制期間指期間開始和包括第一 （1） 一天的每個(gè)日歷月期限內(nèi)的貸款和結(jié)束，包括這種日歷月 ； 最后日歷日期然而，權(quán)責(zé)發(fā)生制初期應(yīng)展開和包括關(guān)閉日期和應(yīng)結(jié)束，包括關(guān)閉日期發(fā)生的日歷月份的最后的日歷日期。行動(dòng)的涵義第 10.3 條規(guī)定。額外破產(chǎn)意見是指任何隨后的破產(chǎn)意見。額外允許轉(zhuǎn)讓的涵義 5.2.9(f) 一節(jié)所述。關(guān)

22、聯(lián)機(jī)構(gòu)指，對(duì)于任何人，任何其他人直接或間接地是在控制中，由控制或與這樣的人共同控制或董事或高級(jí)人員，這種人或這類人的一個(gè)附屬機(jī)構(gòu)。關(guān)聯(lián)經(jīng)理是指任何在其中抵押貸款借款人、 借款人或擔(dān)保人有，直接或間接的經(jīng)理，任何法律、 有益或經(jīng)濟(jì)利益。聚合的債務(wù)服務(wù)是指，任何特定的時(shí)間、 預(yù)定的本金和利息支付期間欠注和抵押貸款說明，在聚合。年度預(yù)算是指經(jīng)營預(yù)算，包括所有計(jì)劃的資本支出，為適用的會(huì)計(jì)年度或其它期間編寫的抵押貸款借款人根據(jù)按揭貸款協(xié)議的屬性。本說明所載的預(yù)計(jì)償還日期涵義。第 5.1.10(f) 條規(guī)定的批準(zhǔn)年度預(yù)算涵義?？捎眯蚤T檻按揭貸款協(xié)議中規(guī)定的涵義。獎(jiǎng)指任何政府的權(quán)力就譴責(zé)任何賠償。破產(chǎn)訴訟指

23、任何人： (a) 該等呈請(qǐng)自愿根據(jù)破產(chǎn)法 或任何其他聯(lián)邦或州破產(chǎn)或無力償債法 ；(b) 提交的反對(duì)這樣的人，根據(jù)破產(chǎn)法 或任何其他聯(lián)邦或州破產(chǎn)或無力償債法 ； 非自愿的請(qǐng)?jiān)笗?提交答案同意或否則為默許或參加任何非自愿的請(qǐng)?jiān)笗磳?duì)它，由任何其它人根據(jù)破產(chǎn)法 或任何其他聯(lián)邦或州破產(chǎn)或無力償債法 ； c) 這種人(d) 這樣的人同意或默許或托管人、 接管人、 受托人或考官任命申請(qǐng)加入為這種人或其中任何部分的財(cái)產(chǎn) ；或 (e) 這樣的人進(jìn)行賦值債權(quán)人，或承認(rèn)，以書面形式或在任何法律程序，其破產(chǎn)或無力償還其債務(wù)到期。破產(chǎn)代碼是指標(biāo)題 11 的美國法典 ，11 u.s.c.101、 及續(xù)后，同樣可從時(shí)間到

24、時(shí)間，修正和任何繼任者章程或章程和所有規(guī)則和規(guī)例不時(shí)都頒布條例，以及任何可比性的外國法律，有關(guān)破產(chǎn)，破產(chǎn)債權(quán)人的權(quán)利或任何其他聯(lián)邦國家破產(chǎn)或無力償債法。碧 Lo具有部分 7.5(a) 本合同規(guī)定的意義。碧露租賃的涵義節(jié) 7.5(a) 本合同規(guī)定。碧-羅/羅格翻轉(zhuǎn)儲(chǔ)備帳戶一節(jié) 7.5(a) 本合同規(guī)定的涵義。碧-羅/羅格翻轉(zhuǎn)儲(chǔ)備基金的涵義節(jié) 7.5(a) 本合同規(guī)定。2碧露空間一節(jié) 7.5(a) 本合同規(guī)定的涵義。借用人的涵義建立四引言段中雙方，以及其繼任者和允許轉(zhuǎn)讓。營業(yè)日指賴以商業(yè)銀行未經(jīng)授權(quán)或法律要求在城市次又一次被指定為接收付款的地方關(guān)閉一天。資本支出手段，為任何一段，為項(xiàng)目的開支總額大

25、寫根據(jù)公認(rèn)會(huì)計(jì)準(zhǔn)則 （包括為建筑改善或大修，租賃委員會(huì)和租戶改進(jìn)支出）?，F(xiàn)金掃事件是指發(fā)生的： (a) 一個(gè)違約事件 ；(b) 任何按揭借款人破產(chǎn)行動(dòng)、 借款人或經(jīng)理 ；或者 (c) DSCR 觸發(fā)事件?，F(xiàn)金掃事件治療手段 (a) 如果現(xiàn)金掃事件只引起的 DSCR 觸發(fā)事件，1.25 到 1.00 債務(wù)服務(wù)覆蓋率的成就發(fā)生或更大的兩個(gè) 2 連續(xù)季度根據(jù)緊接的決心，(b) 如果現(xiàn)金掃事件造成的違約事件的日期對(duì)尾隨六 6 月由貸方的此類違約事件 （哪個(gè)治療貸款人不是有義務(wù)接受和可能拒絕或接受其自由裁量權(quán)），治療方法接受或者 (c) 如果現(xiàn)金掃事件由破產(chǎn)管理行動(dòng)引起，如果借款人替換經(jīng)理一個(gè)合格的經(jīng)理

26、根據(jù)更換管理協(xié)議在六十一屆 60 日內(nèi)發(fā)生的破產(chǎn)操作管理器 ；規(guī)定，但是，這種現(xiàn)金掃事件補(bǔ)救闡明在這個(gè)定義中，應(yīng)符合以下條件： (i) 沒有違約事件應(yīng)已發(fā)生和 (ii) 現(xiàn)金掃事件治療可能會(huì)出現(xiàn)不超過兩個(gè)的情況下根據(jù)本協(xié)議或任何其他的貸款文件，繼續(xù) （2） 次合計(jì)貸款期限及 (iii) 借款人應(yīng)支付所有貸款的合理費(fèi)用 ； 這種現(xiàn)金掃事件補(bǔ)救包括合理的律師費(fèi)用和開支?！癈ash Sweep Period” means each period commencing on the occurrence of a Cash Sweep Event and continuing until the ea

27、rlier of (a)the Payment Date next occurring following the related Cash Sweep Event Cure, or (b)until payment in full of all principal and interest on the Loan and all other amounts payable under the Loan Documents.“Casualty” has the meaning set forth inSection6.2hereof.“Closing Date” means the date

28、of the funding of the Loan.“Code” means the Internal Revenue Code of 1986, as amended, as it may be further amended from time to time, and any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form.“Collateral” has the me

29、aning set forth in the Pledge Agreement.3“Condemnation” means a temporary or permanent taking by any Governmental Authority as the result or in lieu or in anticipation of the exercise of the right of condemnation or eminent domain, of all or any part of the Property, or any interest therein or right

30、 accruing thereto, including any right of access thereto or any change of grade affecting the Property or any part thereof.“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of management, policies or activities of a Person, whether through ownershi

31、p of voting securities, by contract or otherwise. “Controlled” and “Controlling” have correlative meanings.“Control Acknowledgment” means that certain Control Acknowledgment and Agreement executed this same date for the benefit of Lender.“Current Owner” has the meaning set forth inSection 5.2.9(f).“

32、Debt” means the outstanding principal amount set forth in, and evidenced by, this Agreement and the Note together with all interest accrued and unpaid thereon and all other sums (including any Yield Maintenance Amount) due to Lender in respect of the Loan under the Note, this Agreement, the Pledge A

33、greement or any other Loan Document.“Debt Service” means, with respect to any particular period of time, the sum of scheduled interest payments due under the Note.“Debt Service Coverage Ratio” means a ratio for the applicable period in which:(a) the numerator is the Net Operating Income (excluding i

34、nterest on credit accounts and using annualized operating expenses for any recurring expenses not paid monthly (e.g., Taxes and Insurance Premiums) for such period as set forth in the statements required hereunder, without deduction for (i)actual management fees incurred in connection with the opera

35、tion of the Property, or (ii)amounts paid to the Mortgage Loan Reserve Funds and the Reserve Funds, less (A)management fees equal to the greater of (1)assumed management fees of 5% of Gross Income from Operations and (2)the actual management fees incurred, (B)annual Replacement Reserve Fund contribu

36、tions equal to $87,072.00, (C)annual Rollover Reserve Fund contributions equal to $212,400.00, and (D)annual Bi-Lo/Kroger Reserve Fund contributions equal to $122,053.00; and(b) the denominator is the Aggregate Debt Service for such period.“Default” means the occurrence of any event hereunder or und

37、er any other Loan Document which, but for the giving of notice or passage of time, or both, would be an Event of Default.“Default Rate” means, with respect to the Loan, a rate per annum equal to the lesser of (a)the Maximum Legal Rate or (b)five percent (5%)above the Interest Rate.4“Disclosure Docum

38、ents” means, collectively and as applicable, any offering circular, prospectus, prospectus supplement, private placement memorandum or other offering document, in each case, in connection with a Securitization.“Division” shall mean an administrative or operating unit of a Person as opposed to a sepa

39、rate entity wholly or partially owned by such Person.“DSCR Trigger Event” has the meaning set forth in the Mortgage Loan Agreement.“Eligible Account” means a separate and identifiable account from all other funds held by the holding institution that is either (a)an account or accounts maintained wit

40、h a federal or state-chartered depository institution or trust company which complies with the definition of Eligible Institution or (b)a segregated trust account or accounts maintained with a federal or state chartered depository institution or trust company acting in its fiduciary capacity which,

41、in the case of a state chartered depository institution or trust company, is subject to regulations substantially similar to 12 C.F.R. 9.10(b), having in either case a combined capital and surplus of at least $50,000,000.00 and subject to supervision or examination by federal and state authority. An

42、 Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument.“Eligible Institution” means KeyBank National Association or a depository institution or trust company insured by the Federal Deposit Insurance Corporation, the short term unsecured debt obligations or

43、commercial paper of which are rated at least “A-1+” by S&P, “P-1” by Moodys and “F-1+” by Fitch in the case of accounts in which funds are held for thirty (30)days or less (or, in the case of accounts in which funds are held for more than thirty (30)days, the long-term unsecured debt obligations of

44、which are rated at least “AA-” by Fitch and S&P and “Aa3” by Moodys).“Embargoed Person” means any Person, entity or government subject to trade restrictions under U.S. law, including The USA PATRIOT Act (including the anti terrorism provisions thereof), the International Emergency Economic Powers Ac

45、t, 50 U.S.C. 1701, et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder including those related to Specially Designated Nationals and Specially Designated Global Terrorists, with the result that the investment in Borrower o

46、r Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by the Lender is in violation of law.“Environmental Indemnity” means that certain Environmental Indemnity Agreement, dated as of the date hereof, executed by Borrower and Guarantor in connection with t

47、he Loan for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.“Environmental Law” means any present and future federal, state and local laws, statutes, ordinances, rules, regulations and the like, as well as common law, relati

48、ng to protection of human health or the environment, relating to Hazardous Substances, relating to liability for or costs of Remediation or prevention of Releases of Hazardous Substances or relating to liability for or costs of other actual or threatened danger to human health or the environment.5En

49、vironmental Law includes, but is not limited to, the following statutes, as amended, any successor thereto, and any regulations promulgated pursuant thereto, and any state or local statutes, ordinances, rules, regulations and the like addressing similar issues: the Comprehensive Environmental Respon

50、se, Compensation and Liability Act; the Emergency Planning and Community Right-to-Know Act; the Hazardous Substances Transportation Act; the Resource Conservation and Recovery Act (including Subtitle I relating to underground storage tanks); the Solid Waste Disposal Act; the Clean Water Act; the Cle

51、an Air Act; the Toxic Substances Control Act; the Safe Drinking Water Act; the Occupational Safety and Health Act; the Federal Water Pollution Control Act; the Federal Insecticide, Fungicide and Rodenticide Act; the Endangered Species Act; the National Environmental Policy Act; and the River and Har

52、bors Appropriation Act. Environmental Law also includes, but is not limited to, any present and future federal, state and local laws, statutes, ordinances, rules, regulations and the like, as well as common law: conditioning transfer of property upon a negative declaration or other approval of a gov

53、ernmental authority of the environmental condition of the Property; requiring notification or disclosure of Releases of Hazardous Substances or other environmental condition of the Property to any governmental authority or other Person, whether or not in connection with transfer of title to or inter

54、est in property; imposing conditions or requirements in connection with permits or other authorization for lawful activity; relating to nuisance, trespass or other causes of action related to the Property; or relating to wrongful death, personal injury, or property or other damage in connection with

55、 any physical condition or use of the Property.“Environmental Lien” has the meaning set forth inSection5.1.24hereof.“Equity Interests” means (a)partnership interests (whether general or limited) in an entity that is a partnership; (b)membership interests in an entity that is a limited liability comp

56、any; or (c)the shares or stock interests in an entity that is a corporation.“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and the rulings issued thereunder.“Event of Default” has the meaning set forth inSection8.1(a)h

57、ereof.“Excess Cash Flow” has the meaning set forth in the Mezzanine Cash Management Agreement.“Excess Cash Flow Reserve Account” has the meaning set forth inSection7.6hereof.“Excess Cash Flow Reserve Fund” has the meaning set forth inSection7.6hereof.“Extraordinary Expense” has the meaning set forth

58、 inSection5.1.10(g)hereof.“Fiscal Year” means each twelve (12)month period commencing on January1 and ending on December31 during each year of the term of the Loan.“Fitch” means Fitch, Inc.“GAAP” means generally accepted accounting principles in the United States of America as of the date of the app

59、licable financial report.6“Governing State” has the meaning set forth isSection10.3hereof.“Governmental Authority” means any court, board, agency, commission, office or other authority of any nature whatsoever for any governmental unit (foreign, federal, state, county, district, municipal, city or o

60、therwise) whether now or hereafter in existence.“Gross Income from Operations” means, during any period, all sustainable income as reported on the financial statements delivered by Mortgage Borrower in accordance with the Mortgage Loan Agreement, computed in accordance with GAAP, derived from the ow