Senior Security Instrument Default definition

Senior Security Instrument Default means a "Monetary Event of Default" or a "Covenant Event of Default" as defined in the Senior Security Instrument.
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Senior Security Instrument Default means a Monetary Event of Default or a Covenant 122 Event of Default. 123 124 “Subordinate Indebtedness” means all present and future indebtedness, obligations, and 125 liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan 126 or the Subordinate Loan Documents. 127 128 “Subordinate Lender” means the Entity that qualifies under Program Obligations and identified 129 as “Subordinate Lender” in the first paragraph of this Agreement. 130
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Examples of Senior Security Instrument Default in a sentence

  • Until Subordinate Lender receives a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate Lender shall be entitled to retain for its own account all payments made under or pursuant to the Subordinate Loan Documents provided that such payments are otherwise permitted under the terms of this Agreement.

  • Subordinate ▇▇▇▇▇▇ agrees that, notwithstanding any contrary provision con­tained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

  • Notwithstanding any contrary provision contained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

  • Notwithstanding any contrary provision con­tained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

  • Subordinate ▇▇▇▇▇▇ agrees that, notwithstanding any contrary provision contained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

  • Until Subordinate Lender 260 receives a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate 261 Lender shall be entitled to retain for its own account all payments made under or pursuant to the 262 Subordinate Loan Documents provided that such payments are otherwise permitted under the terms 263 of this Agreement.

  • After payment in full of the Senior Indebtedness, Senior Lender shall disburse any remaining funds received by Senior Lender under the Senior Loan Documents during the existence of a Senior Security Instrument Default to Subordinate Lender for application to the Subordinate Indebtedness or as otherwise provided in the Subordinate Loan Documents.

  • Subordinate Lenders agree that, notwithstanding any contrary provision contained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

  • Until Subordinate Lenders receive a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate Lenders shall be entitled to retain for their own account all payments made under or pursuant to the Subordinate Loan Documents provided that such payments are otherwise permitted under the terms of this Agreement.

  • Subordinate ▇▇▇▇▇▇ agrees that, notwithstanding any contrary 353 provision contained in the Subordinate Loan Documents, a Senior Security Instrument Default shall 354 not constitute a default under the Subordinate Loan Documents if no other default occurred under 355 the Subordinate Loan Documents.