Second Lien Loan Clause Samples

Second Lien Loan. The Second-Lien Facility shall have been entered into by the parties thereto and the closing of the loan transaction contemplated therein shall occur prior to or substantially simultaneously with the Closing hereunder.

Second Lien Loan. At any time, directly or indirectly, pay, prepay, repurchase, redeem, retire or otherwise acquire, or make any payment on account of any principal of, interest on or premium payable in connection with the repayment or redemption of the Second Lien Loan to the extent expressly prohibited by the Intercreditor Agreement (Second Lien); provided, that, without limiting the foregoing, (i) neither GLDD nor any of its Subsidiaries shall make any voluntary prepayment in respect of the Second Lien Loan unless the Payment Conditions are satisfied after giving effect thereto and (ii) any mandatory prepayment in respect of the Second Lien Loan shall be subject to the application of proceeds, first, to the Obligations in accordance with Section 2.20 hereof and, second, to the Second Lien Loan, in each case in accordance with Section 2.13(j) of the Second Lien Credit Agreement (as in effect on the Amendment No. 1 Closing Date).

Second Lien Loan. Any Loan secured by a mortgage that is second in lien priority. The Securities Act of 1933, as amended. Collectively, the following entities, their successors and assigns, each in its capacity as a Seller of the Loans to the Depositor: Equity One-Delaware; Equity One-Pennsylvania; Equity One-Minnesota; Equity One-New Hampshire; and Popular Financial.

Second Lien Loan. As of the Closing Date, Borrower shall have delivered to Agent a complete and correct copy of the Second Lien Credit Agreement and all related documents (including all schedules, exhibits, amendments, supplements, modifications, assignments and all other documents delivered pursuant thereto or in connection therewith). Borrower has the corporate power and authority to incur the Second Lien Loan. All Obligations hereunder, including the Letter of Credit Obligations, constitute First Lien Obligations (as defined in the Second Lien Intercreditor Agreement) and are entitled to the benefits of the provisions thereof. Borrower acknowledges that Agent and each Lender are entering into this Agreement and are extending the Commitments in reliance upon the subordination provisions of the Second Lien Intercreditor Agreement and this Section 3.26.

Second Lien Loan. Promptly upon execution thereof, Borrower shall deliver to Agent a complete and correct copy of the Second Lien Credit Agreement and all related documents (including all schedules, exhibits, amendments, supplements, modifications, assignments and all other documents delivered pursuant thereto or in connection therewith).