Examples of Continuing Senior Loan Event of Default in a sentence
If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall have occurred and be continuing, Senior Lender shall be entitled to receive payment and performance in full of all amounts due or to become due to Senior Lender before Subordinate Lender is entitled to receive any payment on account of the Subordinate Loan.
If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall have occurred and be continuing, Senior Lender shall be entitled to receive payment and performance in full of all amounts due or to become due to Senior Lender before Mezzanine Lender is entitled to receive any payment on account of the Mezzanine Loan.
If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall exist, Senior Lender shall be entitled to receive payment and performance in full of all amounts due or to become due to Senior Lender before Mezzanine Lender is entitled to receive any payment on account of the Mezzanine Loan.
Without limitation of the foregoing purchase option, Senior Lender agrees that it shall not take any Enforcement Action in respect of a Continuing Senior Loan Event of Default until the expiration of 10 days following Senior Lender's written notice ("Enforcement Notice") to Mezzanine Lender of Senior Lender's intent to commence one or more Enforcement Actions.
If a Proceeding shall have occurred or a Continuing Senior Loan Event of Default shall have occurred and be continuing, each Senior Lender shall be entitled to receive payment and performance in full of all amounts due or to become due to each Senior Lender before any Mezzanine Lender is entitled to receive any payment on account of a Mezzanine Loan.
So long as no Continuing Senior Loan Event of Default shall have occurred and be continuing under the Senior Loan Documents, all funds held and applied pursuant to the Senior Loan Cash Management Agreement, shall continue to be applied pursuant thereto and shall not be applied by Senior Lender to prepay outstanding principal balance of the Senior Loan.