CONSENT AND SUBORDINATION Sample Clauses

CONSENT AND SUBORDINATION. The undersigned, , being the beneficiary under that certain dated , and recorded on in the Official Records of Orange County, California as Instrument No. (the "Deed of Trust") hereby unconditionally subordinates its Deed of Trust to the foregoing Equipment Easement Agreement, and agrees that the Equipment Easement Agreement shall unconditionally be and remain at all times a lien or charge prior and superior to the Deed of Trust and any related agreements.
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CONSENT AND SUBORDINATION. The undersigned, , being the beneficiary under that certain dated , and recorded on in the Official Records of Orange County, California as Instrument No. (the "Deed of Trust") hereby unconditionally subordinates its Deed of Trust to the foregoing Loading Dock Easement Agreement, and agrees that the Loading Dock Easement Agreement shall unconditionally be and remain at all times a lien or charge prior and superior to the Deed of Trust and any related agreements.
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CONSENT AND SUBORDINATION. Landlord and Tenant declare, agree and acknowledge that:
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CONSENT AND SUBORDINATION. T h e undersigned, S a n D iego Housing Commission, a California public agency (“Commission”) is the beneficiary under the following deeds of trust on the subject property: a Commission Senior Loan Deed of Trust (the Commission Senior Loan Deed of Trust”) dated as of recorded in the Official Records of San Diego County, California on as Instrument/File No. ____________ securing indebtedness in the current approximate amount of $651,876.94 (and any and all supplements thereto, modifications thereof, amendments thereto, extensions thereof and replacements thereof), a Junior Commission Deed of Trust (the “Junior Commission Deed of Trust”) dated as of recorded in the Official Records of San Diego County, California on as Instrument/File No. securing indebtedness in the current approximate amount of $83,357.68 (and any and all supplements thereto, modifications thereof, amendments thereto, extensions thereof and replacements thereof) and the Revocable Grant Deed of Trust (the “Revocable Grant Deed of Trust”) dated as of recorded in the Official Records of San Diego County, California on as Instrument/File No. securing indebtedness in the current amount of $230,000.00 (and any and all supplements thereto, modifications thereof, amendments thereto, extensions thereof and replacements thereof). The subject property is also subject to the Agreement A ffecting R e a l Property (Including R en tal Restrictions) b y a n d betw een the Redevelopment Agency of the City of San Diego, a public body corporate and politic (“Agency” therein), and HDP Xxxxx, LLC, a California limited liability company (“Owner” therein) dated on or about of even date herewith (the “Xxxxx AARP”). The Commission hereby consents to the provisions of the Xxxxx AARP and unconditionally subordinates th e liens o f th e Commission Senior Loan Deed o f Trust, th e Junior Commission Deed of Trust and the Revocable Grant Deed of Trust to the Xxxxx AARP. SAN DIEGO HOUSING COMMISSION By: Xxxxxxx X. Xxxxxx President and Chief Executive Officer Approved as to form: XXXXXXXXXXX & XXXXX LLP By: Xxxxxx X. Xxxxx, III General Counsel San Diego Housing Commission Chief Deputy General Counsel Date: CALIFORNIA ACKNOWLEDGEMENT State of California County of ) On before me, (insert name and title of the officer) personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the sa...
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CONSENT AND SUBORDINATION. The undersigned (i) is the holder of a first priority security interest by virtue of a mortgage recorded in REM Book 1962, page 670 in the Spartanburg County Register of Deeds Office, in certain property burdened by that certain Declaration of Covenants, Conditions, Restrictions and Easements For Fairforest Business Park (collectively the "Declaration"); and (ii) hereby subordinates the lien of said Mortgage in and to the Declaration, so that the Declaration shall be paramount and superior to the security interest of the undersigned; Except as subordinated hereby, the aforedescribed mortgage recorded in REM Book 1962, Page 670 shall remain in full force and effect. IN WITNESS WHEREOF, this ____ day of ______________, 1998. NATIONSBANK OF SOUTH CAROLINA, N.A. ______________________________ By: ______________________________(SEAL) ______________________________ Its: ___________________________________ STATE OF SOUTH CAROLINA ) ) PROBATE COUNTY OF SPARTANBURG ) PERSONALLY appeared before me the undersigned witness who on oath states that (s)he saw the within named NATIONSBANK OF SOUTH CAROLINA, N.A., by _________________, its ___________________, sign, seal and deliver the within Declaration, and that (s)he with the other witness, witnessed the execution thereof. ________________________________________ SWORN to before me this _____ day of ______________, 1998.
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CONSENT AND SUBORDINATION. Cray Trust hereby consents to the granting by Borrower of the Central Illinois Light Mortgage, and hereby subordinates the lien and effect of the Cray Mortgage to the lien and effect of both the Exchange Bank Mortgage and the Central Illinois Light Mortgage, notwithstanding the priority which would otherwise be accorded such interests by order of recording. Following the recordation of the Central Illinois Light Mortgage and the recordation of this Subordination Agreement, it is the intention of the parties that the list of mortgages on the Property, in order of their priority, will be as follows: First priority Exchange Bank Mortgage in a maximum principal amount of up to $2,800,000.00 Second priority Central Illinois Light Mortgage Third priority Cray Trust Mortgage From and after such recordations, the respective mortgages shall have the priorities as set forth above.
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CONSENT AND SUBORDINATION. The undersigned consents to and agrees that its interest in the property on which the structural stormwater BMP is located will be subordinate and subject to the terms, conditions and responsibilities of the Owner as enumerated in the Private Stormwater BMP Maintenance Agreement and the Drainage Easement. IN TESTIMONY THEREOF, the undersigned corporation has caused this instrument to be executed its corporate name by   its  as of the day and year first above written. (Insert full name of corporation) by , its , STATE OF MINNESOTA ) ) SS COUNTY OF ) This instrument was acknowledged before me on this _____ day of ________________, 20__, by _NAME_______________ as _____TITLE_______________________, on behalf of that corporation. _____________________________ Notary Public My Commission Expires: _________________________ THIS DOCUMENT DRAFTED BY: St. Cloud City Attorney’s Office 000 0xx Xxxxxx Xxxxx St. Cloud, MN 56301 (000) 000-0000 City of St. Cloud, Minnesota Appendix H:
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Related to CONSENT AND SUBORDINATION

  • Agreement of Subordination The Company covenants and agrees, and each holder of Notes issued hereunder by its acceptance thereof likewise covenants and agrees, that all Notes shall be issued subject to the provisions of this Article Four, and each Person holding any Note, whether upon original issue or upon registration of transfer, assignment or exchange thereof, accepts and agrees to be bound by such provisions. The payment of the principal of, premium, if any, and interest (including Liquidated Damages, if any) on all Notes (including, but not limited to, the redemption price with respect to the Notes called for redemption in accordance with Section 3.2 or submitted for redemption in accordance with Section 3.5, as the case may be, as provided in this Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred. No provision of this Article Four shall prevent the occurrence of any default or Event of Default hereunder.

  • Non-Subordination The Obligations are not subordinated in any way to any other obligations of Borrower or to the rights of any other Person.

  • Lien Subordination Notwithstanding the date, manner or order of grant, attachment or perfection of any Junior Lien in respect of any Collateral or of any Senior Lien in respect of any Collateral and notwithstanding any provision of the UCC, any applicable law, any Security Document, any alleged or actual defect or deficiency in any of the foregoing or any other circumstance whatsoever, the Junior Representative, on behalf of each Junior Secured Party, in respect of such Collateral hereby agrees that:

  • COVENANTS AND SUBORDINATION SECTION 6.1. Subordination............................................................................. 13 SECTION 6.2. Pari Passu Guarantees..................................................................... 13 ARTICLE VII

  • Intercompany Subordination Agreement The Administrative Agent shall have received the Intercompany Subordination Agreement, duly executed and delivered by each Loan Party.

  • Continuing Subordination The subordination provisions in this Deed constitute a continuing subordination and benefit the ultimate balance of the Senior Debt regardless of any intermediate payment or discharge of the Senior Debt in whole or in part.

  • Authorization to Effect Subordination Each Holder of Notes, by the Holder's acceptance thereof, authorizes and directs the Trustee on such Holder's behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article 10, and appoints the Trustee to act as such Holder's attorney-in-fact for any and all such purposes. If the Trustee does not file a proper proof of claim or proof of debt in the form required in any proceeding referred to in Section 6.09 hereof at least 30 days before the expiration of the time to file such claim, the Representatives are hereby authorized to file an appropriate claim for and on behalf of the Holders of the Notes.

  • Payment Subordination Except as otherwise expressly provided in this Agreement, all of Junior Lender’s rights to payment of the Junior Loan (including, but not limited to, payment of principal, interest, and prepayment fees) and the obligations evidenced by the Junior Loan Documents are hereby subordinated to all of Senior Lender’s rights to payment by Borrower of the Senior Loan and the obligations secured by the Senior Loan Documents, including any Protective Advances by the Senior Lender. If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall have occurred and be continuing, then (i) Junior Lender shall not accept or receive payments (including, without limitation, whether in cash or other property and whether received directly, indirectly or by set-off, counterclaim or otherwise) from Borrower, from the Premises or from any other source unless all obligations under the Senior Loan Documents are paid, and (ii) Senior Lender shall be entitled to receive payment and performance in full of all amounts due or owing from Borrower or guarantor before Junior Lender is entitled to receive any payment on account of the Junior Loan. All payments or distributions upon or with respect to the Junior Loan which are received by Junior Lender contrary to the provisions of this Agreement shall be received and held in trust by the Junior Lender for the benefit of Senior Lender and shall be paid over to Senior Lender in the same form as so received (with any necessary endorsement) to be applied to (in the case of cash), or held as collateral for (in the case of non-cash property or securities), the payment or performance of the Senior Loan in accordance with the terms of the Senior Loan Documents. Nothing contained herein shall prohibit the Junior Lender from making Protective Advances (and adding the amount thereof to the principal balance of the Junior Loan) notwithstanding the existence of a default under the Senior Loan at such time. Notwithstanding anything to the contrary contained in this Agreement, including, without limitation, Section 9(a), so long as a Proceeding has not occurred or a Continuing Senior Loan Event of Default is not outstanding, Junior Lender may accept payments of any amounts due and payable from time to time that Borrower is obligated to pay to Junior Lender in accordance with the terms and conditions of the Junior Loan Documents and Junior Lender shall have no obligation to pay over to Senior Lender any such amounts. Prior to commencing any Enforcement Action, Junior Lender shall (i) give the Senior Lender written notice of the default which would permit Junior Lender to commence such Enforcement Action, (ii) obtain Senior Lender’s prior written consent, which consent may be granted or withheld in Senior Lender’s sole and absolute discretion, to such Enforcement Action, and (iii) provide Senior Lender with copies of any and all material notices, pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action and otherwise keep Senior Lender reasonably apprised as to the status of any Enforcement Action. In the event of a casualty to the buildings or improvements constructed on any portion of the Premises or a condemnation or taking under a power of eminent domain of all or any portion of the Premises, Senior Lender shall have a first and prior interest in and to any payments, awards, proceeds, distributions, or consideration arising from any such event (the “Award”). If (x) the amount of the Award is in excess of all amounts owed to Senior Lender under the Senior Loan Documents, however, and (y) either the Senior Loan has been paid in full or Borrower is entitled to a remittance of same under the Senior Loan Documents other than to repair or restore the Premises, such excess Award or portion to be so remitted to Borrower shall, to the extent permitted in the Senior Loan Documents, be paid to or at the direction of Junior Lender, unless other Persons have claimed the right to such Award, in which case Senior Lender shall only be required to provide notice to Junior Lender of such excess Award and of any other claims thereto. In the event of any competing claims for any such excess Award, Senior Lender shall continue to hold such excess Award until Senior Lender receives an agreement signed by all Persons making a claim to the excess Award or a final order of a court of competent jurisdiction directing Senior Lender as to how and to which Person(s) the excess Award is to be distributed. Notwithstanding the foregoing, in the event of a casualty or condemnation, Senior Lender shall release the Award from any such event to the Borrower if and to the extent required by the terms and conditions of the Senior Loan Documents in order to repair and restore the Premises in accordance with the terms and provisions of the Senior Loan Documents. Any portion of the Award made available to the Borrower for the repair or restoration of the Premises shall not be subject to attachment by Junior Lender.

  • Release of Collateral and Guarantee Obligations; Subordination of Liens (a) The Lenders and the Issuing Banks hereby irrevocably agree that the Liens granted to the Administrative Agent or the Collateral Agent by the Loan Parties on any Collateral shall be automatically released (i) in full, as set forth in clause (b) below, (ii) upon the sale or other transfer of such Collateral (including as part of or in connection with any other sale or other transfer permitted hereunder (including any Receivables Financing Transaction)) to any Person other than another Loan Party, to the extent such sale, transfer or other disposition is made in compliance with the terms of this Agreement (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Loan Party upon its reasonable request without further inquiry), (iii) to the extent such Collateral is comprised of property leased to a Loan Party by a Person that is not a Loan Party, upon termination or expiration of such lease, (iv) if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders (or such other percentage of the Lenders whose consent may be required in accordance with Section 10.01), (v) to the extent the property constituting such Collateral is owned by any Guarantor (other than the Borrower), upon the release of such Guarantor from its obligations under the Guaranty (in accordance with the second succeeding sentence), (vi) as required by the Collateral Agent to effect any sale, transfer or other disposition of Collateral in connection with any exercise of remedies of the Collateral Agent pursuant to the Collateral Documents and (vii) to the extent such Collateral otherwise becomes Excluded Assets. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those being released) upon (or obligations (other than those being released) of the Loan Parties in respect of) all interests retained by the Loan Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral except to the extent otherwise released in accordance with the provisions of the Loan Documents. Additionally, the Lenders and the Issuing Banks hereby irrevocably agree that the Guarantors shall be released from the Guaranties upon consummation of any transaction permitted hereunder resulting in such Subsidiary ceasing to constitute a Restricted Subsidiary, or otherwise becoming an Excluded Subsidiary. The Lenders and the Issuing Banks hereby authorize the Administrative Agent and the Collateral Agent, as applicable, to execute and deliver any instruments, documents, consents, acknowledgements, and agreements necessary or desirable to evidence or confirm the release of any Guarantor or Collateral pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender or Issuing Bank. Any representation, warranty or covenant contained in any Loan Document relating to any such released Collateral or Guarantor shall no longer be deemed to be repeated.

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