Senior Priority. A circumstance in which a specified document, to be recorded in the O ficial Records against all or a specified portion of the Real Property upon the Closing, is in a position on title that has senior priority relative to all CSU Debt Instruments and all Development Contracts (or related memoranda or abstracts), and any regulatory agreement or covenant, to be recorded in the Official Records upon or after the Closing.
Appears in 2 contracts
Samples: Real Property Purchase and Sale Agreement, Real Property Purchase and Sale Agreement
Senior Priority. A circumstance in which a specified document, to be recorded in the O ficial Of icial Records against all or a specified portion of the Real Property upon the Closing, is in a position on title that has senior priority relative to all CSU Debt Instruments and all Development Contracts (or related memoranda or abstracts), and any regulatory agreement or covenant, to be recorded in the Official Records upon or after the Closing.
Appears in 2 contracts
Samples: Real Property Purchase and Sale Agreement, Real Property Purchase and Sale Agreement
Senior Priority. A circumstance in which a specified document, to be recorded in the O ficial Official Records against all or a specified portion of the Real Property upon the Closing, is in a position on title that has senior priority relative to all CSU Debt Instruments and all Development Contracts (or related memoranda or abstracts), and any regulatory agreement or covenant, to be recorded in the Official Records upon or after the Closing.
Appears in 1 contract
Samples: Real Property Purchase and Sale Agreement and Joint Escrow Instructions
