Common use of Subordination to New Senior Security Instrument Clause in Contracts

Subordination to New Senior Security Instrument. Xxxxxx Xxxxxx agrees that upon recordation of the New Senior Security Instrument, the Junior Lender Security Interest in any fixtures owned by the Borrowers and located at the Property shall be unconditionally and forever inferior, junior and subordinate in all respects to the lien/security interest of New Senior Lender’s New Senior Security Instrument, if duly perfected and non-voidable, and all obligations it secures.

Subordination to New Senior Security Instrument. Xxxxxx Xxxxxx Junior Lender agrees that upon recordation of the New Senior Security Instrument, the Junior Lender Security Interest Lender’s lien/security interest in any fixtures owned by the Borrowers and located at the Property shall be unconditionally and forever inferior, junior and subordinate in all respects to the lien/security interest of New Senior LenderMortgagee’s New Senior Security Instrument, if duly perfected and non-voidable, Instrument and all obligations it secures. Junior Mortgagee irrevocably consents to and approves all provisions of the New Senior Security Instrument and the terms of the obligation it secures.

Subordination to New Senior Security Instrument. Xxxxxx Xxxxxx Junior Lender agrees that upon recordation of the New Senior Security Instrument, the Junior Lender Security Interest in any fixtures owned by the Borrowers and located at the Property shall be unconditionally and forever inferior, junior and subordinate in all respects to the lien/security interest of New Senior Lender’s New Senior Security Instrument, if duly perfected and non-voidable, and all obligations it secures.