Common use of Payments After Senior Loan Default or Bankruptcy Clause in Contracts

Payments After Senior Loan Default or Bankruptcy. (i) Immediately upon Subordinate Xxxxxx’s receipt of Notice or actual knowledge of a Senior Mortgage Default, Subordinate Lender will not accept any payments of the Subordinate Indebtedness, and the provisions of Section 3(d) of this Agreement will apply.

Payments After Senior Loan Default or Bankruptcy. (i) Immediately upon Subordinate XxxxxxLender’s receipt of Notice or actual knowledge of a Senior Mortgage Default, Subordinate Lender will not accept any payments of the Subordinate Indebtedness, and the provisions of Section 3(d) of this Agreement will apply.

Payments After Senior Loan Default or Bankruptcy. (i) Immediately upon Subordinate XxxxxxLender’s receipt of Notice or actual knowledge of a Senior Mortgage Default, Subordinate Lender will not accept any payments of the Subordinate Indebtedness, and the provisions of Section 3(d3(e) of this Agreement will apply.

Payments After Senior Loan Default or Bankruptcy. (i) Immediately upon Subordinate XxxxxxLender’s receipt of Notice or actual knowledge of a Senior Mortgage Loan Default, Subordinate Lender will not accept any payments of the Subordinate Indebtedness, and the provisions of Section 3(d) of this Agreement will apply.

Payments After Senior Loan Default or Bankruptcy. (i) Immediately upon Subordinate Xxxxxx’s receipt of Notice or actual knowledge of a Senior Mortgage Default, Subordinate Lender will not accept any payments of the Subordinate Indebtedness, and the provisions of Section 3(d3(e) of this Agreement will apply.