Common use of Secondary Financing Clause in Contracts

Secondary Financing. The Borrower shall not, without the prior written consent of the Significant Bondholder, incur any secondary financing secured by the Project or other financings except for (i) the transactions contemplated in the Subordinate Loan Documents, (ii) the Permitted Encumbrances and as otherwise contemplated in the Mortgage, and (iii) unsecured loans or advances by the Borrower’s partners as contemplated or permitted by the Limited Partnership Agreement.

Secondary Financing. The Borrower shall nothereby covenants and agrees that, except for Permitted Encumbrances and except as otherwise contemplated in the Mortgage, without the prior written consent of the Significant Bondholder, if any, it shall not incur any secondary financing secured by the Project or other financings except for (i) beyond the transactions contemplated in the Subordinate Loan Documents, (ii) the Permitted Encumbrances and as otherwise contemplated in the Mortgage, and (iii) unsecured loans or advances by the Borrower’s partners as contemplated or permitted by the Limited Partnership Agreement.