Subordinate Lender definition

Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

Subordinate Lender means the Entity named as such in the first paragraph on page 1 of this Agreement.

Subordinate Lender has the meaning provided in the first paragraph of this Agreement.

Examples of Subordinate Lender in a sentence

• Subordinate Lender may have up to 30 days from the date of the Default Notice to cure any monetary default under the First Mortgage Loan Documents; provided, however, that the Senior Lender shall be entitled during such 30-day period to continue to pursue its remedies with respect to the Property.

• Subordinate Lender may have up to 60 days from the date of the Default Notice to cure a non- monetary default if during such 60-day period Subordinate Lender keeps current all payments required by the First Mortgage Loan Documents.

• Upon execution and delivery of the Senior Loan Documents, Borrower shall deliver to Subordinate Lender an executed copy of each of the Senior Loan Documents, certified to be true, correct and complete.

• The Senior Lender shall deliver to the Subordinate Lender a Default Notice within five Business Days in each case where the Senior Lender has given a Default Notice to the Borrower.

• The Senior Lender shall have the right, but not the obligation, to cure any Subordinate Loan Default within 60 days following the date of such notice; provided, however that the Subordinate Lender shall be entitled, during such 60-day period, to continue to pursue its rights and remedies under the Subordinate Loan Documents to the extent permitted under Section 5(b).

More Definitions of Subordinate Lender

Subordinate Lender means the Entity that qualifies under Program Obligations and named as such in the first paragraph on page 1 of this Agreement.

Subordinate Lender has the meaning ascribed thereto in the recitals;

Subordinate Lender means [ ].

Subordinate Lender means the Entity identified as “Subordinate Lender” in the first paragraph of this Agreement.

Subordinate Lender means, individually and collectively, the lenders of the Subordinate Debt.

Subordinate Lender means the Person named as such in the first paragraph on page 1 of this Agreement, any successor or assign of Subordinate Lender, including without limitation, a receiver, trustee or debtor-in-possession and any other Person who becomes the legal holder of the Subordinate Note after the date of this Agreement.

Subordinate Lender means, as to the Subordinate Governmental Lender Loan, the Los Angeles County Development Authority, and, as to the Subordinate City Land Loan, the City.