Common use of Default by the Subordinate Lender or Senior Lender Clause in Contracts

Default by the Subordinate Lender or Senior Lender. If the Subordinate Lender or Senior Lender defaults in performing or observing any of the terms, covenants, or conditions to be performed or observed by it under this Agreement, the other, nondefaulting lender shall have the right to all available legal and equitable relief.

Appears in 2 contracts

Samples: Subordination Agreement, Subordination Agreement

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Default by the Subordinate Lender or Senior Lender. If the Subordinate Lender or Senior Lender defaults in performing or observing any of the terms, covenants, covenants or conditions to be performed or observed by it under this Agreement, the other, nondefaulting non-defaulting lender shall have the right to all available legal and equitable relief.

Appears in 1 contract

Samples: CDBG Piggyback Program Subordination Agreement

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Default by the Subordinate Lender or Senior Lender. If the Subordinate Lender or Senior Lender defaults in performing or observing any of the terms, covenants, covenants or conditions to be performed or observed by it under this Agreement, the other, nondefaulting lender other shall have the right to all available legal and equitable relief.

Appears in 1 contract

Samples: Subordination Agreement (Panache Beverage, Inc.)

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