Senior Loan Default definition

Senior Loan Default means the occurrence of an “Event of Default” as that term is defined in the Senior Loan Documents.

Senior Loan Default means any default, beyond applicable notice and cure periods, if any, by the Partnership of any term, covenant or condition arising under any Senior Loan Documents.

Senior Loan Default means the occurrence of an "Event of Default" as that term is defined in the Senior Loan Documents.

Examples of Senior Loan Default in a sentence

• Until Subordinate Lender receives a Default Notice (or otherwise acquires actual knowledge) of a Senior Loan Default, Subordinate Lender shall be entitled to retain for its own account all payments made under or pursuant to the Subordinate Loan Documents.

• At any time after a Senior Loan Default is determined to constitute a default under the Subordinate Loan Documents, the Subordinate Lender shall be permitted to pursue its remedies for default under the Subordinate Loan Documents, subject to the restrictions and limitations of this Agreement.

• If the default referenced in a Senior Loan Default Notice has been cured such that there is no longer an Event of Default under the Senior Loan Documents, Junior Lenders shall have the same Monetary Cure Period with respect to any future Senior Loan Default Notice.

• In the event Senior Lender has delivered a Senior Loan Default Notice pursuant to Sections 12(a)(i) or (ii) below which has not been cured by a Junior Lender, Senior Lender shall provide the Junior Lenders with copies of any and all material notices relating to such Event of Default, pleadings, agreements, motions and briefs served upon, delivered to or with any party to any Enforcement Action and otherwise keep the Junior Lenders reasonably apprised as to the current status of any Enforcement Action.

• If at any time Borrower cures any Senior Loan Default to the satisfaction of Senior Lender, as evidenced by written notice from Senior Lender to Subordinate Lender, any default under the Subordinate Loan Documents arising from such Senior Loan Default shall be deemed cured and the Subordinate Loan shall be retroactively reinstated as if such Senior Loan Default had never occurred.

More Definitions of Senior Loan Default

Senior Loan Default means any “Event of Default”, as defined in the Credit Agreement.

Senior Loan Default means any act, failure to act, event, condition, or occurrence which constitutes, or which with the giving of notice or the passage of time, or both, would constitute, an “Event of Default” as defined in the Senior Security Instrument.

Senior Loan Default means a Default or Event of Default under the Senior Loan Documents.

Senior Loan Default means an “Event of Default” as defined in the Senior Loan Documents. "Senior Loan Documents" means the Senior Note, the Senior Security Instrument, and all other documents evidencing, securing or otherwise executed and delivered in connection with the Senior Loans as in effect on the date hereof or as amended or modified in accordance with this Agreement. 2 "Standstill Period" means any period commencing from the date of a Senior Loan Default or a Subordinate Loan Default and continuing until the earlier of (a) six (6) months after the date the Default Notice is given or required to be given; (b) the date after which the indebtedness under and with respect to the Senior Loan is paid and satisfied in full; or (c) the date on which all of the Events of Defaults giving rise to the Standstill Period have been cured or have been waived with the Senior Lender's unconditional written permission. "Subordinate Lender" means the Person named as such in the first paragraph on page 1 of this Agreement and any other Person who becomes the legal holder of the Subordinate Note after the date of this Agreement. "Subordinate Loan Default" means an “Event of Default” as defined in the Subordinate Loan Documents. "Subordinate Loan Documents" means the Subordinate Note, the Subordinate Mortgage and all other documents evidencing, securing or otherwise executed and delivered in connection with the Subordinate Loan.

Senior Loan Default means a default or Event of Default (as that term is defined in the Senior Loan Documents or any of them) under any Senior Loan Document. (xxi) “Senior Loan Obligations” shall mean any and all obligations and advances arising out of or related to the Senior Loan Documents, without regard to the application of the proceeds of any such advances, in an aggregate principal amount not to exceed $400,000,000, together with all interest, prepayment premiums and other sums (including but not limited to closing costs, legal fees and costs, and any and all related expenses) arising out of or related to the Senior Loan Documents. (xxii) “Subordinate Loan Obligations” shall mean any and all obligations and advances arising out of or related to the Subordinate Loan Documents, without regard to the application of the proceeds of any such advances, together with all interest, prepayment premiums and other sums (including but not limited to closing costs, legal fees and costs, any and all related expenses) arising out of or related to the Subordinate Loan Documents, and any other debt, liability and obligation of every type and description which Borrower may now or at any time hereafter owe to Subordinate Lender, whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several.

Senior Loan Default means a Default, as defined in the First Lien Credit Agreement and the Second Lien Credit Agreement.

Senior Loan Default means a Mortgage Default and/or a First Mezzanine Default, individually or collectively, as the context may require.