Assets pledged by the borrower or another party (as collateral against) amounts lent by the lender to the borrower. Following the occurrence of certain default events, the lender c ...

A clause that allows the borrower under a facility agreement to make an early principal repayment with the provision of a specific early repayment penalty.

The entity that provides equity to a Borrowerin a real estate finance transaction. The sponsor can also be the investment manager.

First ranking portion of a real estate loan. A loan that ranks higher (in terms of repayment and enforcement of security) than other loans to the same Borrower or borrower group.

Policy or guidance document that outlines real estate lending criteria and includes sustainability-related metrics/factors.

The document under which any debt provided to an Obligorby a Shareholder or other entity is expressly subordinated to the Facility.

Any creditor of the Borrower which is a party to a Subordination Agreementin favor of the Lender.

An agreement that governs the ranking, or priority of payment of the junior lender and the senior lender in terms of debt waterfall including principal repayment and interest payme ...

Loans subordinate to senior debt, including stretched senior (40%-60% LTV), junior (60%-70% LTV) and mezzanine financing (70%-85%+ LTV).

This incorporates all transaction related documentation, and is wider than just the Facility Agreement.