Examples of Senior Loan in a sentence
Section 2.1 of the OCN Subordination Agreement prohibits the repayment of the OCN Loans except as provided for therein, which with respect to refinancing the OCN Loans only refinancing through the “proceeds of a Permitted Refinancing Indebtedness (as defined in the Senior Loan Agreement [(as defined in the OCN Subordination Agreement)])[.]” A breach of Section 2.1 of the OCN Subordination Agreement would result in the breach of Section 8.7(i) of the Loan Agreement.
If Junior Lender, by subrogation, shall acquire any lien, estate, right, or other interest in the Land in addition to those set forth in the Junior Loan Documents, that lien, estate, right, or other interest shall be subject and subordinate to the Repayment in Full of the Senior Obligations and to the Senior Deed of Trust and the other Senior Loan Documents to the same extent as the Junior Obligations are subordinate to the Senior Obligations hereunder.
Amend, modify or waive any of its rights under its Organization Documents, other than any amendment or modification permitted under Section 7.20, or (b) any Senior Loan Document (other than any amendment, modification, or waiver that is permitted under the terms of the Senior Subordination Agreement).