Subordinate Loan Documents Clause Samples
The 'Subordinate Loan Documents' clause defines and governs the set of agreements and instruments related to a loan that is expressly ranked below other specified debts in terms of repayment priority. This clause typically lists or references the documents that evidence or secure the subordinate loan, such as promissory notes, security agreements, or guarantees, and clarifies their relationship to senior debt. By clearly identifying which documents are subject to subordination, the clause ensures that all parties understand the hierarchy of claims in the event of default or liquidation, thereby reducing disputes and allocating risk between lenders.
Subordinate Loan Documents. The executed Subordinate Loan Documents are substantially in the same form as those submitted to, and approved by, HUD prior to the date of this Agreement. Upon execution and delivery of the Subordinate Loan Documents, Borrower shall deliver to Senior Lender an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.
Subordinate Loan Documents. The Subordinate Loan is evidenced by the Subordinate Note and is secured by the Subordinate Mortgage.
Subordinate Loan Documents. Without Funding ▇▇▇▇▇▇’s prior written consent, ▇▇▇▇▇▇▇▇ will not surrender, terminate, cancel, modify, change, supplement, alter, amend, waive, release, assign, transfer, pledge or hypothecate any of its rights or remedies under the Subordinate Loan Documents.
Subordinate Loan Documents. The Subordinate Loan Documents are in full force and effect and the Borrower has paid all commitment fees and other amounts due and payable to the Subordinate Lender(s) thereunder. There exists no material violation of or material default by the Borrower under, and no event has occurred which, upon the giving of notice or the passage of time, or both, would constitute a material default under the Subordinate Loan Documents.
Subordinate Loan Documents. Without Funding Lender’s prior written consent, Borrower will not surrender, terminate, cancel, modify, change, supplement, alter, amend, waive, release, assign, transfer, pledge or hypothecate any of its rights or remedies under the Subordinate Loan Documents.
Subordinate Loan Documents. The executed Subordinate Loan Documents are substantially in the same forms as those submitted to, and approved by, County prior to the date of this Agreement. Borrower shall deliver to County an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.
Subordinate Loan Documents. Borrower represents that the executed Subordinate Loan Documents are substantially in the same forms as those submitted to prior to the date of this Agreement. Upon execution and delivery of the Subordinate Loan Documents, Borrower shall deliver to Senior Lender an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.
Subordinate Loan Documents. A complete set of the fully executed Subordinate Loan Documents, certified by Borrower to be true, correct and complete.
Subordinate Loan Documents. The expiration or termination or occurrence of a breach or default under the documents governing any of the Subordinate Loans or any documents in connection therewith, or failure to satisfy any of the terms or covenants or conditions of or under any of the Subordinate Loans or any documents in connection therewith, in either case following expiration of any applicable notice and cure periods provided therein; or
Subordinate Loan Documents. ▇▇▇▇▇▇▇▇ has delivered to Senior Lender an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.