Examples of Prior Loans in a sentence
All obligations, rights and remedies of the Trust or the Master Trustee under the Master Trust Agreement or any Supplemental Trust Agreement as it relates to Prior Loans or agreements related to Prior Loans, including receipt of Revenues after an Event of Default or exercise of remedies, is expressly subject and subordinate to the obligations, rights and remedies of the Trust and the prior bond trustees under the Prior Bond Resolutions, and the Program Trustee under the Program Resolution.
The Prior Loans, the Loan, Coincidental Loans and Future Loans shall be collectively referred to as “Borrower Loans”.
Status of Prior Loans A student is not eligible to receive federal financial aid if in default on any federal educational loans previously borrowed.
Amendments to Financing Agreements, Prior Loans and Prior Local Governmental Obligations.
Notwithstanding anything to the contrary in this Section 5.1, the pledge of any Revenues and right, title and interest in Loans and Financial Agreements related to Prior Loans is expressly subject and subordinate to the prior pledge and lien granted by the Trust for the benefit of the Owners of the applicable Prior Bonds under the applicable Prior Bond Resolutions, including without limitation the Owners of applicable Refunding Prior Bonds.