Subordinate Loan Agreement definition
Examples of Subordinate Loan Agreement in a sentence
The Company hereby appoints Brookdale as its true and lawful attorney-in-fact for purposes of giving notice of optional prepayment in accordance with subsection 2.3(e) of the Subordinate Loan Agreement, which appointment as attorney-in-fact is irrevocable and is coupled with an interest.
All amounts paid by Subordinate Lender to Senior Lender to cure a Senior Loan Default shall be deemed to have been advanced by Subordinate Lender pursuant to, and shall be secured by the Subordinate Loan Agreement and the Subordinate Mortgage.
The Subordinate Loan Agreement also says that the “Indenture and this Loan Agreement are and shall be subject and subordinate in all respects .
Borrower and Lenders are entering into a security agreement under which Borrower grants to Senior Lenders on a senior basis and to Subordinate Lender on a subordinate basis (i) a security interest in Borrower’s rights under the City PFS Agreement to secure Borrower’s obligations under the Senior Loan Documents and the Subordinate Loan Agreement and (ii) a security interest in Borrower’s rights as assignee under the Intergovernmental Agreement.
The Subordinate Loan is evidenced by the Subordinate Note and is secured by the Subordinate Mortgage, the Subordinate Loan Agreement and the Subordinate Loan Documents.