Examples of Equity Bridge Lender in a sentence
Without the prior written consent of Senior Lender, Equity Bridge Lender will not commence, or join with any other creditor in commencing, any Bankruptcy Proceeding.
Equity Bridge Lender agrees that its agreement to subordinate under this Agreement will extend to any new mortgage debt which is for the purpose of refinancing all or any part of the Senior Indebtedness (including reasonable and necessary costs associated with the closing and/or the refinancing, and any reasonable increase in proceeds for rehabilitation in the context of a preservation transaction).
Failure of Senior Lender or Funding Lender to send Notice to Equity Bridge Lender will not prevent the exercise of Senior Lender’s and Funding Lender’s rights and remedies under the Senior Loan Documents.
If Equity Bridge Lender either (i) amends the Equity Bridge Loan Documents in the manner set forth above or (ii) assigns the Equity Bridge Loan without Funding Lender’s consent then such amendment or assignment will be void ab initio and of no effect whatsoever.
In the event Equity Bridge Lender receives conflicting instructions from Borrower and Funding Lender, Equity Bridge Lender is hereby instructed to follow the payment instructions of Funding Lender and to make payment in accordance with the payment instructions of Funding Lender.
Neither giving nor failing to give a Notice to Senior Lender or Funding Lender pursuant to this Section 4(a) will affect the validity of any Notice given by Equity Bridge Lender to Borrower.
Equity Bridge Lender agrees that all proceeds advanced to Borrower under the Equity Bridge Loan Documents prior to the completion of the Repairs in accordance with the terms of the Continuing Covenant Agreement will be made to the Fiscal Agent or otherwise in accordance with the payment instructions received from Funding Lender to be deposited in the [Borrower Equity Account][Bridge Loan Account] and disbursed in accordance with the terms of the Continuing Covenant Agreement.
Whenever the Equity Bridge Loan Documents give Equity Bridge Lender approval or consent rights with respect to any matter, and a right of approval or consent for the same or substantially the same matter is also granted to Senior Lender or Funding Lender pursuant to the Senior Loan Documents or otherwise, Senior Lender’s or Funding Lender’s approval or consent or failure to approve or consent will be binding on Equity Bridge Lender.
Upon Notice from Senior Lender or Funding Lender, Equity Bridge Lender will execute and deliver such additional instruments and documents, and will take such actions, as are required by Senior Lender or Funding Lender to further evidence or implement the provisions and intent of this Agreement.
Except as permitted by this Section 4(b), any Enforcement Action on the part of Equity Bridge Lender will be subject to the prior written consent of Funding Lender.