Junior Financing. Borrower enters into any secondary or additional financing agreements or arrangements of any kind whatsoever with respect to the Premises (including, without limitation, any financing secured, in whole or in part, by all or any part of or interest in the Premises) without the prior written consent of Lender; or
Junior Financing. (i) Any of the Obligations of the Loan Parties under the Loan Documents for any reason shall cease to be “Senior Indebtedness” (or any comparable term) or “Senior Secured Financing” (or any comparable term) under any Junior Financing, or (ii) the subordination provisions set forth in any Junior Financing shall, in whole or in part, cease to be effective or cease to be legally valid, binding and enforceable against the holders of any Junior Financing;
Junior Financing. (i) With respect to any of the Second Lien Obligations permitted hereunder or the guarantees thereof, the Obligations cease to constitute First Priority Indebtedness under the Intercreditor Agreement, or the Intercreditor Agreement shall be invalidated or otherwise cease to be a legal, valid and binding obligation of the parties thereto, enforceable in accordance with its terms, (ii) with respect to any other Junior Financing permitted hereunder or the guarantees thereof that is or are unsecured, if any, such Junior Financing shall cease, for any reason (other than repayment or refinancing thereof in compliance with this Agreement), to be validly subordinated to the Obligations to the extent, if any, provided in the Junior Financing Documents in respect thereof, or Holdings, any Borrower or any of the Restricted Subsidiaries or any Affiliate thereof, the trustee in respect of such Junior Financing or the holders of at least 51% in aggregate principal amount of such Junior Financing shall so claim or (iii) with respect to any Junior Financing permitted hereunder or guarantees thereof that is or are secured, the Obligations shall cease to constitute First Priority Indebtedness under the intercreditor agreement applicable thereto, if any, or such intercreditor agreement shall be invalidated or otherwise cease to be legal, valid and binding obligations of the parties thereto, enforceable in accordance with its terms (other than as results from repayment or refinancing of such Junior Financing in compliance with this Agreement).
Junior Financing. (i) with respect to any Junior Financing permitted hereunder or the guarantees thereof that is or are unsecured, if any, such Junior Financing shall cease, for any reason (other than repayment or refinancing thereof in compliance with this Agreement), to be validly subordinated to the Obligations to the extent, if any, provided in the Junior Financing Documents in respect thereof, or Holdings, any Borrower or any of the Restricted Subsidiaries or any Affiliate thereof, the trustee in respect of such Junior Financing or the holders of at least 51% in aggregate principal amount of such Junior Financing shall so claim or (ii) with respect to any Junior Financing permitted hereunder or guarantees thereof that is or are secured, the Obligations shall cease to constitute senior obligations under the intercreditor agreement applicable thereto, if any, or such intercreditor agreement shall be invalidated or otherwise cease to be legal, valid and binding obligations of the parties thereto, enforceable in accordance with its terms (other than as results from repayment or refinancing of such Junior Financing thereof in compliance with this Agreement).
Junior Financing. Borrower shall not without the prior written consent of Lender incur any additional indebtedness or create or permit to be created or to remain, any mortgage, pledge, lien, lease, encumbrance or charge on, or conditional sale or other title retention agreement, whether prior or subordinate to the liens of this Deed with respect to the Premises or any part thereof or income therefrom other than the Deed herein and the Permitted Encumbrances.
Junior Financing. Mortgagor shall not, without the prior written consent of Mortgagee, such consent to be made in Mortgagee's sole determination, incur any additional indebtedness or create or permit to be created or to remain, any mortgage, pledge, lien, encumbrance or charge on, or conditional sale or other title retention agreement with respect to, the Mortgaged Property or any part thereof or income therefrom, other than the Security Documents, and the Permitted Encumbrances.
Junior Financing. During the term of the Loan, Borrower shall ---------------- not create or permit to exist any liens on or security interests in the Property or any other property on which Lender has a lien to secure the Loan, and shall not enter into a lease of all or any portion of the Property, which is outside the leasing criteria to be agreed upon between Borrower and Lender, without the prior written consent of Lender, provided, however, if a Lease requires the consent of Borrower, subject to the prior written consent of Lender, Tenants may mortgage their leasehold interest, provided such mortgages do not require subordination of Borrower's fee interest in the Property. Borrower shall not agree to any mortgage, hypothecation, pledge, encumbrance or transfer by Tenant without Lender's consent, such consent not to be unreasonably conditioned, withheld or delayed.
Junior Financing. Borrower shall not without the prior written consent of Lender incur any additional indebtedness or create or permit to be created or to remain, any mortgage, pledge, lien, lease, encumbrance or charge on, or conditional sale or other title retention agreement, whether prior or subordinate to the liens of this Deed with respect to the Premises or any part thereof or income therefrom other than the Deed, purchase money security interests incurred in the ordinary course of business herein and the Permitted Encumbrances. Notwithstanding the above, the Lender acknowledges a shared first lien position with a $800,000.00 SBA loan from Lender of even date.
Junior Financing. 44 ARTICLE 5 CONDITIONS TO ADVANCE OF LOAN PROCEEDS ......................................... 45 5.1
Junior Financing. No junior or subordinate financing or FF&E leases shall be allowed during the term of the Loan, either on a secured or unsecured basis, other than FF&E leases with annual payments not exceeding Thirty-Three Thousand and No/100 Dollars ($33,000.00) and aggregate payments, during the Initial Period, not exceeding One Hundred Thousand and No/100 Dollars ($100,000.00). This restriction applies to each entity comprising Borrower, each such entity's sole member, Managing Member and any other party having authority or apparent authority to obligate the Properties or any portion of the cash flow therefrom to the repayment of indebtedness, with the exception of Guarantor, which is addressed in the following sentence. In addition, Guarantor shall not incur or become obligated to repay any indebtedness, whether direct or indirect, and whether evidenced by a promissory note, guaranty or other agreement, (i) that is related in any manner to rentals, leases or lease guaranty payments that arise in connection with any property leases by Guarantor or its Affiliates from Hospitality Properties Trust and its affiliates ("HPT"), subject to an aggregate potential debt of Guarantor or its Affiliates that is acceptable to Lender in its sole and absolute discretion, other than those indebtedness obligations explicitly set forth in that certain Second Amended and Restated Lease Agreement substantially of even date herewith, between HPT CW Properties Trust, as landlord, and Candlewood Leasing No. 1, Inc., as tenant, as amended, but not without Lender's prior consent to any and all modifications or amendments to the monetary or financial obligations of Guarantor thereunder (the "HPT-Related Debt") and/or (ii) that relates to any other Indebtedness, including the Loan, but not including the HPT-Related Debt, which in the aggregate exceeds One Hundred Thirty-Two Million Two Hundred Thousand and No/100 Dollars ($132,200,000.00), in each case at any time during the Initial Period or, if applicable, the Extension Period; provided, however, if the Properties achieve an actual, annual net operating income, based upon all actual revenues, income and proceeds generated by the Properties and actual or accrued expenses incurred in connection with the Properties which expenses, adjusted to reflect (i) the franchise fees due under the Franchise Agreement not to exceed four percent (4%) of gross revenues per annum, whether or not paid (ii) base and incentive management fees due under the Managem...
