Examples of Senior Lender Collateral in a sentence
Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the Intercreditor Agent or the Senior Lenders may have with respect to the Senior Lender Collateral.
In exercising rights and remedies with respect to the Senior Lender Collateral, the Intercreditor Agent and the Senior Lenders may enforce the provisions of the Senior Lender Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion.
The Senior Lender Collateral Assignment (as defined in Section 11.4) shall provide that if Developer is in default under the Mortgage, the Senior Lender will within 10 Business Days after it becomes aware of any default for which written notice is provided to Developer (an “Identified Default”) will notify the City and the Authority of the Identified Default and the action required to cure the Identified Default.
The Senior Lender Collateral Assignment will provide that if, within the time period required by the Mortgage, the City or the Authority cures the Identified Default under the Mortgage, the Mortgagee will not pursue its remedies under the Mortgage based on the Identified Default.
From and after the date hereof, Junior Lender shall not acquire, by subrogation, contract or otherwise, any lien upon or other estate, right or interest in any property of Borrower (including, without limitation, any lien, estate, right or interest that may arise with respect to real estate taxes, assessments or other governmental charges) or any rents or revenues therefrom that is or may be prior in right to or on parity with the Senior Lender Collateral.