Interest Period shall mean, (a) initially, the period commencing on (and including) the Closing Date and ending on (and including) February 14, 2019 and (b) thereafter, the period commencing on (and including) the fifteenth (15th) day of each calendar month during the term of the Loan and ending on (and including) the fourteenth (14th) day of the following calendar month. Each Interest Period as set forth in clause (b) above shall be a full month and shall not be shortened by reason of any payment of the Loan prior to the expiration of such Interest Period.
Interest Rate shall mean, with respect to each Interest Period: (a) an interest rate per annum equal to (i) for a Floating Interest Rate Loan, the Floating Interest Rate, determined as of the Determination Date immediately preceding the commencement of such Interest Period, (ii) for a Prime Rate Loan, the Prime Rate, determined as of the Determination Date immediately preceding the commencement of such Interest Period, and (iii) for an Alternate Rate Loan, the Alternate Rate, determined as of the Determination Date immediately preceding the commencement of such Interest Period; or (b) when applicable pursuant to this Agreement or any other Loan Document, the Default Rate.
Interest Rate Cap Agreement shall mean, collectively, one or more interest rate protection agreements (together with the confirmation and schedules relating thereto), between an Acceptable Counterparty and Borrower obtained by Borrower as and when permitted or required pursuant to Section 2.7 hereof. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term Interest Rate Cap Agreement shall be deemed to mean such Replacement Interest Rate Cap Agreement and such Replacement Interest Rate Cap Agreement shall be subject to all requirements applicable to the Interest Rate Cap Agreement.
Investor means any investor or potential investor in the Loan (or any portion thereof or interest therein) in connection with any Secondary Market Transaction.
IRC means the Internal Revenue Code of 1986, and any rule or regulation promulgated thereunder from time to time, in each case as amended from time to time.
IRS means the Internal Revenue Service or any successor agency replacing the same.
Issuer is defined in Section 13.7(C).
Knowledge. Whenever in any of the Loan Documents, or in any document or certificate given pursuant to any of the Loan Documents, reference is made to the knowledge of an entity (whether by use of the words knowledge or known, or other words of similar meaning, and whether or not the same are capitalized), such shall be deemed to refer to the knowledge of the individuals who have material responsibility for policy making, major decisions, or financial affairs of such entity, and, if it appears in a document or certificate referred to above, the person signing such document or certificate.
Lease means any lease, tenancy, license, sublease, assignment and/or other rental or occupancy agreement (including, without limitation, any and all guarantees of any of the foregoing) heretofore or hereafter entered into affecting the use, enjoyment or occupancy of the applicable Property or any portion thereof, including any extensions, renewals, modifications or amendments thereof.
Legal Requirements shall mean, as amended, with respect to Borrower, Mortgage Borrower, the Collateral and the Property (including any operator thereon), all federal, state, county, municipal and other governmental statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and injunctions of governmental authorities affecting Borrower, Mortgage Borrower, the Collateral or the Property or any part thereof or the construction, use, alteration or operation thereof, or any part thereof, whether now or hereafter enacted and in force, including, without limitation, all Environmental Laws and the Americans with Disabilities Act of 1990, and all permits, licenses and authorizations and regulations relating thereto, and all covenants, agreements, restrictions and encumbrances contained in any instruments, either of record or known to Borrower, at any time in force affecting the Collateral or the Property or any part thereof, including, without limitation, any which may (i) require repairs, modifications or alterations in or to the Property or any part thereof, or (ii) in any way limit the use and enjoyment thereof.