Senior Loan Default definition

Senior Loan Default means the occurrence of any default, event of default or breach under any of the Senior Debt Documents which, by the terms of the Senior Debt Documents, entitles the Senior Lender to accelerate the Senior Obligations, whether or not the Senior Lender elects to do so.

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 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.

• Borrower and Subordinate Lender agree that a Subordinate Loan Default shall constitute a Senior Loan Default under the Senior Loan Documents and Senior Lender shall have the right to exercise all rights or remedies under the Senior Loan Documents in the same manner as in the case of any other Senior Loan Default.

• At any time after a Senior Loan Default is determined to constitute a default under the Subordinate Loan Documents, 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.

• Subordinate Lender shall have the right, but not the obligation, to cure any such Senior Loan Default within sixty (60) days following the date of such Default Notice or the date on which Subordinate Lender otherwise acquires actual knowledge of Senior Loan Default; provided, however, that Senior Lender shall be entitled during such sixty (60) day period to continue to pursue its remedies under the Senior Loan Documents.

• Demonstrate knowledge of quality control standards and procedures and is responsible for the quality of their own work and may carry out quality checks on other employees.

More Definitions of Senior Loan Default

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

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 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. 2.

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

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 Default or Event of Default under the Senior Loan Documents.