Junior Loan Documents. The Securities Purchase Agreement between ---------------------- BancBoston Ventures Inc. and the Borrower, the Promissory Note in the principal amount of $3,000,000 issued by the Borrower to BancBoston Ventures Inc., and all other instruments, documents and agreements relating thereto or executed in connection therewith, as modified, amended, supplemented or restated.
Junior Loan Documents. The Borrower shall not modify, amend, --------------------- supplement, or restate the Junior Loan Documents, except to the extent necessary to cause the covenants and events of default in the Junior Loan Documents to be consistent with the Loan Documents.
Junior Loan Documents. Borrower has delivered to Lender true, correct and complete copies of the Junior Loan Documents, and the Junior Loan Documents have not been amended or modified except for agreements delivered to Lender prior to the date hereof. The Junior Loan Documents are the only agreements evidencing and/or securing the loan made by Junior Lender to Borrower. No default, or event which, with the giving of notice or the passage of time, or both, would constitute a default, exists under the Junior Loan Documents. Neither Borrower nor any of the other Related Parties has received a default notice under the Junior Loan Documents. The restrictions on payments under the Junior Loan Documents set forth in SECTION 7.12, other than any restriction on the repayment of the Junior Loan upon the maturity thereof, shall not cause Borrower to be in default of its obligations under the Junior Loan Documents. Effective on or before the Closing Date, the Junior Loan Documents do not create a Lien, charge or encumbrance on the Projects, any of the collateral securing the Loan or any of Borrower's other assets.
Junior Loan Documents. Borrower shall promptly deliver to Lender a copy of any default or other notice delivered to Borrower under the Junior Loan Documents. Borrower shall not amend or modify the Junior Loan Documents without Lender's prior written consent, which may be withheld in Lender's sole discretion except for amendments or modifications extending the maturity date of the Junior Loan without otherwise increasing Borrower's obligations under the Junior Loan Documents, in which event Lender's consent shall not be unreasonably withheld.
(a) Ten Million Dollars ($10,000,000) of the initial disbursement of the Loan proceeds shall be used by Borrower to repay a portion of the outstanding principal balance of the Junior Loan, (b) interest payments under the Junior Loan Documents shall be paid only to the extent there is Net Cash Flow sufficient to make such payment (and, to the extent of Net Cash Flow, and so long as such payment is otherwise permitted by this SECTION 7.12, such payment may be a partial payment), (c) without limiting any other provision of the Loan Documents, prior to October 1, 2000, principal of the Junior Loan shall be paid only from the net proceeds actually received by Borrower from any sale or refinancing of Borrower's assets (after the payment of all costs in connection with such sale or refinancing including, without limitation, all closing costs, repayment of encumbrances, and any amount due under SECTION 2.8) ("NET ASSET SALE PROCEEDS"), (d) on and after October 1, 2000, principal of the Junior Loan may be paid from Net Asset Sale Proceeds and, in addition, to the extent there is Net Cash Flow sufficient to make such payment (and, to the extent of Net Cash Flow, and so long as such payment is otherwise permitted by this SECTION 7.12, such payment may be a partial payment) so long as such payment is otherwise permitted by this SECTION 7.12, and (e) notwithstanding anything to the contrary set forth herein, no payments in cash or any other assets or property of Borrower shall be made in connection with the Junior Loan or under the Junior Loan Documents if an Event of Default has occurred under any of the Loan Documents or a monetary Potential Default or material nonmonetary Potential Default has occurred and is continuing under any of the Loan Documents. For the purposes of this SECTION 7.12, the issuance by Borrower in accordance with the terms of the Junior Loan Documents of any additional note(s) to Junior Lenders evidencing amounts due and unpaid (i...
Junior Loan Documents. The occurrence of any of the following: (i) a monetary default or material nonmonetary default by Borrower under any of the Junior Loan Documents, or (ii) a nonmonetary default by Borrower under any of the Junior Loan Documents which is not material and the expiration of any cure period expressly set forth in the Junior Loan Documents, (iii) the acceleration of the maturity date under the Loan Documents, or (iii) the stated maturity date of the Junior Loan Documents if, without limiting any of the provisions of SECTION 7.12, the amounts due and owing under the Junior Loan Documents are not repaid in full on or before such stated maturity date.
Junior Loan Documents. The Borrower shall not materially amend the Junior Loan Documents without the prior written consent of Lender.
Junior Loan Documents. Notwithstanding anything to the contrary herein, the Borrower will not enter into, modify, amend, refinance, supplement, increase, restate or waive any right (including consenting to any assignment) or obligation under, the Junior Credit Agreement or any other Junior Loan Document (each, a “Junior Modification”), without the prior written consent of the Administrative Agent if such Junior Modification would violate any provision of the Intercreditor Agreement.
Junior Loan Documents. The Borrower has executed and delivered to the Junior Lender the following loan documents (the “Junior Loan Documents” and collectively with the Senior Loan Documents, the “Loan Documents”) as follows:
a. Subordinated Commercial Promissory Note;
b. Subordinated Second Mortgage; and
c. Subordinated Second Assignment of Leases and Rents.
Junior Loan Documents. Amended and Restated First Mortgage dated October 1, 1991, and recorded on January 2, 1992, as Document Number 92001888, from American National Bank and Trust Company of Chicago, as Trustee under Trust Agreement dated July 26, 1977, and known as Trust 40935 to General Electric Capital Corporation to secure an indebtedness in the amount of $152,106,073.00.
Junior Loan Documents. All conditions to the effectiveness of the Junior Loan Documents shall have been satisfied and the Borrower shall have received or shall substantially simultaneously receive at least $50,000,000 of gross proceeds therefrom.
