JUNIOR LIENHOLDER Sample Clauses

JUNIOR LIENHOLDER. The undersigned is the holder of an obligation secured by a lien (the “Junior Lien”) against the same property which secures, in a senior priority position, Borrower’s obligations to Lender under the Loan Agreement and the other Loan Instruments. The undersigned consents to and accepts the modifications set forth in the foregoing Second Modification, and agrees that, notwithstanding such modifications, the undersigned’s lien shall be and remain junior and subordinate to the lien of Lender to secure Borrower’s obligations as modified herein. The undersigned agrees to execute a separate Subordination Agreement confirming the foregoing if requested by Lender. The undersigned confirms to Lender that Borrower is not in default of any obligation secured by the Junior Lien and that the Junior Lien and the obligations secured thereby have not been modified. WRI OPPORTUNITY LOANS I, LLC, a Washington limited liability company By: WEYERHAEUSER REALTY INVESTORS, INC., a Washington corporation Its: Manager By: /s/ XXXXXX X. XXXX Xxxxxx X. Xxxx Vice President By: /s/ XXXXX X. XXXXXXXXXXX Xxxxx X. Xxxxxxxxxxx Senior Vice President
Sample 1
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JUNIOR LIENHOLDER. As between TWC and the Administrative Agent, the party with a Lien on subject collateral that, pursuant to the terms of this Agreement, is junior to the Lien of the other party on such collateral shall not commence judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession of any portion of such collateral that such party has a junior Lien on pursuant to the terms of this Agreement, exercise any right, remedy or power with respect to, or otherwise take any action to enforce their interest in or realize upon, such collateral that such party has a junior Lien on pursuant to the terms of this Agreement. EXHIBIT 99.2
Sample 1
JUNIOR LIENHOLDER. City of Coachella, a California municipal corporation By: Name: Title: APPROVED AS TO FORM: BY: NAME: ITS: [Signatures must be acknowledged.] [Signatures continue on page 7. Remainder of this page is blank.] BORROWER: 6th & Xxxxx Xxxxxx CIC, LP, a California limited partnership By: Pueblo PSCDC, LLC, a California limited liability company Its: Managing General Partner By: Pacific Southwest Community Development Corporation, a California nonprofit public benefit corporation Its: Manager By: Xxxxxx X. Xxxxx, President/Executive Director By: CIC 6th & Xxxxx Xxxxxx, LLC, a California limited liability company Its: Administrative General Partner By: Chelsea Investment Corporation, a California corporation Its: Member and Manager By: Xxxxx Xxxxxxx, President [Signatures must be acknowledged.] [Signatures continue on page 8. Remainder of this page is blank.]
Sample 1

Related to JUNIOR LIENHOLDER

  • Subordination This Agreement, Tenant's interest hereunder and Tenant's leasehold interest in and to the Leased Property are hereby agreed by Tenant to be and are hereby made junior, inferior, subordinate and subject in right, title, interest, lien, encumbrance, priority and all other respects to any mortgage or mortgages and security interests now or hereafter in force and effect upon or encumbering Landlord's interest in the Leased Property, or any portion thereof, and to all collateral assignments by Landlord to any third party or parties of any of Landlord's rights under this Agreement or the rents, issues and profits thereof or therefrom as security for any liability or indebtedness, direct, indirect or contingent, of Landlord to such third party or parties, and to all future modifications, extensions, renewals, consolidations and replacements of, and all amendments and supplements to any such mortgage, mortgages or assignments, and upon recording of any such mortgage, mortgages or assignments, the same shall be deemed to be prior in dignity, lien and encumbrance to this Agreement, Tenant's interest hereunder and Tenant's leasehold interest in and to the Leased Property irrespective of the dates of execution, delivery or recordation of any such mortgage, mortgages or assignments (such mortgages, mortgages, security interests, assignments, modifications, extensions, renewals, amendments, supplements and replacement being a "Facility Mortgage"). The subordination of this Lease shall be upon the express condition that the validity of this Lease shall be recognized by the Mortgagee, and that, notwithstanding any default by the mortgagor, with respect to such mortgage, Tenant's possession and right of use under this Lease in and to the Leased Property (including rights to have insurance and condemnation proceeds made available for proper reconstruction of the Leased Property) shall not be disturbed by such Mortgagee unless and until Tenant shall breach any of the provisions hereof and this Lease or Tenant's right to possession hereunder shall have been terminated or shall be terminable in accordance with the provisions of this Lease. The foregoing subordination and non-disturbance provisions of this Section shall be automatic and self-operative without the necessity of the execution of any further instrument or agreement of subordination on the part of Tenant. Tenant acknowledges and agrees that notwithstanding the foregoing automatic subordination, if Landlord or Mortgagee shall request that Tenant execute and deliver any further instrument or agreement of subordination of this Agreement or Tenant's interest hereunder or Tenant's leasehold interest in the Leased Property to any such Facility Mortgage, in confirmation or furtherance of or in addition to the foregoing subordination provisions of this Section, Tenant shall promptly execute and deliver the same to the requesting party (provided that such instrument or agreement also reflects the non-disturbance provisions set forth above). Further, Tenant agrees that it will, from time to time, execute such documentation as may be requested by Landlord and any Mortgagee (a) to assist Landlord and such Mortgagee in establishing or perfecting any security interest in Landlord's interest in the Reserve and the funds therein; and (b) to facilitate or allow Landlord to encumber the Leased Property as herein contemplated. If, within thirty (30) days following Tenant's receipt of a written request by Landlord or the holder or proposed holder of any such Facility Mortgage, Tenant shall fail or refuse or shall have not executed any such further instrument or agreement of subordination, for whatever reason, Tenant shall be in breach and default of its obligation to do so and of this Agreement and Landlord shall be entitled thereupon to exercise any and all remedies available to Landlord pursuant to this Agreement or otherwise provided by law.

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