Junior Lender Sample Clauses

Junior Lender. Notwithstanding the provisions of Section 9 or any other provisions hereof (including the provisions of Section 12(a)(iii) hereof), but subject to Section 5(f) below, no Junior Lender or any Loan Pledgee with respect to a Junior Loan shall Transfer in the aggregate, taking into account all prior Transfers, more than forty-nine percent (49%) of its respective beneficial interest in its respective Junior Loan to any Person that is not a Qualified Transferee or a Loan Pledgee, without receiving a Rating Agency Confirmation (in which case the related transferee shall thereafter be deemed to be a “Qualified Transferee” for all purposes of this Agreement), and, at least five (5) Business Days prior to such Transfer to a Qualified Transferee, any such Junior Lender shall provide to Senior Lender, the other Junior Lenders and the Rating Agencies a certification that such Transfer will be made to a Qualified Transferee or a Loan Pledgee, provided that with respect to a Transfer by a Loan Pledgee, such notice shall be given within three (3) Business Days after such Transfer. Any such transferee, must assume in writing the obligations of such Junior Lender hereunder and agree to be bound by the terms and provisions hereof. Such proposed transferee shall also remake each of the representations and warranties contained herein for the benefit of the Senior Lender and the Junior Lenders (which in the case of the representations in Sections 4(c)(i) and 4(d)(i) hereof, as applicable, shall be limited to the knowledge of such transferee).

Junior Lender. COUNTY OF BOULDER, COLORADO, a

Junior Lender. City of Winona (funds received from the State of Minnesota Initiative Fund). The original principal amount of the Note will be $300,000. Up to $100,000 of the Loan principal will be forgiven upon satisfaction by the Borrower of the terms of the Loan Agreement, specifically job creation, wages, and business operation goals. The repayable portion of the Loan, $200,000, shall bear interest at a rate of three percent (3%) per annum. Interest shall begin to accrue as of the Initial Disbursement Date, The Initial Disbursement Date means the date of the first disbursement of any Loan Proceeds by the Lender to the Borrower. The term of the Loan is seven (7) years. Payments of principal and interest on the non- forgiveable portion of the Loan shall commence on the first day of the first month immediately following the Final Disbursement Date and shall continue on the first day of each and every month thereafter until the Loan is paid in full. The Final Disbursement Date means the date of the final disbursement of the Loan proceeds by the Lender to the Borrower, In accordance with the applicable loan documents, if the Borrower fails to meet the job creation and wage goals stated therein by the Compliance Date and the Lender has not extended the Compliance Date for one year after public hearing and approval of the State of Minnesota, the Borrower will be required to repay the Lender a pro rata share of the $100,000 at $15,000 per job not created, plus interest from the Initial Disbursement Date, which interest shall be computed as follows. If the implicit price deflater for government consumption expenditures and gross investment for state and local governments prepared by the Bureau of Economic Analysis of the United States Department' of Commerce for the 12-month period ending March 31st of the previous year, exceeds three percent (3%) on the date of default, the Borrower shall, in addition to any other payment required under the Note, pay to the Lender the difference between the present value of the interest actually paid and accrued on the Loan and the amount of interest that would have been paid and accrued on the Loan if the interest rate of the Loan at all times had been equal to the implicit price deflater on the date of the date of default.

Junior Lender. [Xxxxxx Xxxxxx’s Full Legal Name], a [State of Incorporation] corporation, with its principal office located at [Junior Lender’s Address].

Junior Lender. DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT

Junior Lender. Port Authority of Winona. The original principal amount of the Note is $140,000. The term of the Loan is seven (7) years. Interest on this Note accrues at a rate of three percent (3%) per annum. The first payment of principal and interest is due on or before September 1, 2015, and the final payment is due on or before August 1, 2022. The Loan Agreement requires the Borrower to create a minimum of twenty (20) full time equivalent jobs within two years of the Benefit Date and provide documentation of said job creation. The Jobs created must pay an hourly wage of at least $18.00 including benefits. In addition, the Borrower must continue operations in the City of Winona at least five (5) years from the Benefit Date. The Benefit Date is May 14, 2015.

Junior Lender. BEHRINGER HARVARD PAL I, LLC, a Delaware limited liability company

Junior Lender. COLUMN FINANCIAL, INC.,

Junior Lender. Junior Lender hereby represents and warrants to Senior Lender as follows: (a) Junior Lender is a limited partnership duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized; (b) Junior Lender has the power and authority to enter into, execute, deliver and carry out the terms of this Agreement, all of which have been duly authorized by all proper and necessary action and are not prohibited by its organizational documents; and (c) this Agreement, when executed and delivered, will constitute the valid and legally binding obligation of Junior Lender, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by equitable principles.

Junior Lender. Notwithstanding anything contained herein to the contrary, so long as any of the Senior Loan Obligations remain outstanding, Junior Lender must obtain the prior written consent of the Senior Lender prior to commencing any Junior Loan Enforcement Action.