Examples of Senior Creditor Loan Documents in a sentence
This Agreement shall remain in full force and effect until (a) the final and indefeasible payment to Senior Creditor in cash of all of the Senior Obligations in full, and (b) the termination of Senior Creditor’s obligations to lend to Borrower under the Senior Creditor Loan Documents.
In exercising rights and remedies with respect to the Collateral, Senior Creditor may enforce the provisions of the Senior Creditor Loan Documents and exercise remedies thereunder, all in such order and in such manner as provided in the Senior Creditor Loan Documents, provided that Senior Creditor is not otherwise prohibited from taking such action by the applicable terms of the UCC or other applicable law.
Subordinated Creditor agrees that it will, upon Senior Creditor's request and whether or not an Event of Default exists, release its Liens in any Equipment concurrently with Senior Creditor's release of its Lien therein in connection with Borrowers' authorized disposition of such Equipment pursuant to the terms of the Senior Creditor Loan Documents as in effect on the date hereof.
The provisions of this Agreement are intended by the parties to control any conflicting provisions in the Senior Creditor Loan Documents or the Subordinated Debt Documents, including any covenants prohibiting further borrowing or encumbrances of Collateral.
Senior Creditor and Borrower shall be authorized to amend any of the Senior Creditor Loan Documents to which they are a party in accordance with the terms thereof, and without prior notice to or the consent of any of the holders of the Subordinated Debt.
Should a Junior Creditor receive any Distribution at any time contrary to the terms of this Agreement, such Junior Creditor will promptly deliver such Distribution to Senior Creditor in precisely the form received (except for the endorsement or assignment of the Junior Creditor where necessary) whether it is due or not due to Senior Creditor under the terms of the Senior Creditor Loan Documents, and until so delivered the same shall be held in trust by such Junior Creditor as property of Senior Creditor.
Should Junior Creditor receive any Distribution at any time contrary to the terms of this Agreement, Junior Creditor will promptly deliver such Distribution to Senior Creditor in precisely the form received (except for the endorsement or assignment of Junior Creditor where necessary) whether it is due or not due to Senior Creditor under the terms of the Senior Creditor Loan Documents, and until so delivered the same shall be held in trust by Junior Creditor as property of Senior Creditor.
Senior Creditor hereby consents to Borrowers' grant of Liens in the Collateral to Subordinated Creditor and agrees that the existence of such Liens shall not constitute an Event of Default under any of the Senior Creditor Loan Documents.
Upon the exercise of such option by the Subordinated Creditor, the Senior Creditor will assign to the Subordinated Creditor all of its right, title and interest in and to the Senior Creditor Loan Documents and the Senior Debt without recourse or warranty, whereupon this Agreement shall be terminated.
Subordinated Creditor and Senior Creditor each may alter, amend, supplement, release, discharge or otherwise modify any terms of the Subordinated Debt Documents or of the Senior Creditor Loan Documents, respectively, without the consent of the other, except as otherwise provided in the Debt Subordination.