Examples of Master Subordination Agreement in a sentence
Any balance of the Net Proceeds remaining after such work has been completed shall be used first to repay the Other Project Financing that has priority over the TIF Loan pursuant to the Master Subordination Agreement, then to repay the TIF Loan, then to repay the Other Project Financing that is subordinate to the TIF Loan pursuant to the Master Subordination Agreement.
Borrower will not grant a security interest in, or create, permit to be created or allow to exist any liens, charges or encumbrances on the Project other than the Permitted Encumbrances and other loans as described and permitted in the Master Subordination Agreement.
Xxxxxx and Borrower will enter into a Master Subordination Agreement and Estoppel Certificate by and among the Lender, Borrower, Greater Minnesota Housing Fund, Hennepin County, and the City of Maple Grove (the “Subordination Agreement”).