Subordinate Loan Enforcement Action definition

Subordinate Loan Enforcement Action means the acceleration of all or any part of the Subordinate Indebtedness, the advertising of or commencement of any foreclosure or trustee’s sale proceedings, the exercise of any power of sale, the acceptance of a deed or assignment in lieu of foreclosure or sale, the collecting of rents, the obtaining of or seeking of the appointment of a receiver, the seeking of default interest, the taking of possession or control of any of the Mortgaged Property, the commencement of any suit or other legal, administrative, or arbitration proceeding based upon the Subordinate Note or any other of the Subordinate Loan Documents, the exercising of any banker's lien or rights of set-off or recoupment, or the taking of any other enforcement action against Borrower, any other party liable for any of the Subordinate Indebtedness or obligated under any of the Subordinate Loan Documents, or the Mortgaged Property.
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Subordinate Loan Enforcement Action means the acceleration of all or any part of the Subordinate Indebtedness, the advertising of or commencement of any foreclosure or trustee’s sale proceedings, the exercise of any power of sale, the acceptance of a deed or assignment in lieu of foreclosure or sale, the collecting of rents, the obtaining of or seeking of the appointment of a receiver, the seeking of default interest, the taking of possession or control of any of the Mortgaged Property, the commencement of any suit or other legal, administrative, or arbitration proceeding based upon the Subordinate Loan Documents, the exercising of any banker’s lien or rights of set-off or recoupment, or the taking of any other enforcement action against Borrower, any other party liable for any of the Subordinate Indebtedness or obligated under any of the Subordinate Loan Documents, or the Mortgaged Property.
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Subordinate Loan Enforcement Action means the acceleration of all or any part of the 136 Subordinate Indebtedness, the advertising of or commencement of any foreclosure or trustee’s 137 sale proceedings, the exercise of any power of sale, the acceptance of a deed or assignment in 138 lieu of foreclosure or sale, the collecting of rents, the obtaining of or seeking of the appointment 139 of a receiver, the seeking of default interest, the taking of possession or control of any of the 140 Mortgaged Property, the commencement of any suit or other legal, administrative, or arbitration 141 proceeding based upon the Subordinate Loan Documents, the exercising of any banker’s lien or 142 rights of set-off or recoupment, or the taking of any other enforcement action against Borrower, 143 any other party liable for any of the Subordinate Indebtedness or obligated under any of the 144 Subordinate Loan Documents, or the Mortgaged Property. 145 146 “Subordinate Mortgage Default” means any act, failure to act, event, condition, or occurrence 147 which allows (but for any contrary provision of this Agreement), or which with the giving of 148 notice or the passage of time, or both, would allow (but for any contrary provision of this 149 Agreement), Subordinate Lender to take a Subordinate Loan Enforcement Action. 150
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Examples of Subordinate Loan Enforcement Action in a sentence

  • Notwithstanding anything contained herein to the contrary, so long as any of the Senior Loan Obligations or Junior Loan Obligations remain outstanding, Subordinate Lender shall not, without the prior written consent of both Senior Lender and Junior Lender, commence any Subordinate Loan Enforcement Action.


More Definitions of Subordinate Loan Enforcement Action

Subordinate Loan Enforcement Action means the acceleration of all or any part of the Subordinate Indebtedness, the advertising of or commencement of any
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Subordinate Loan Enforcement Action means any (a) judicial or non-judicial foreclosure proceeding, the exercise of any power of sale, the taking of a deed or assignment in lieu of foreclosure, the obtaining of a receiver or the taking of any other enforcement action under the Subordinate Loan Documents by the Subordinate Lender against the Property or Borrower, including, without limitation, the taking of possession or control of the Property or instituting or participating in the institution of any Proceeding, (b) demand or action taken by the Subordinate Lender in order to collect all or any indebtedness under the Subordinate Loan Documents secured by the Property (other than acceleration of the Subordinate Loan, giving of notices of default and statements of overdue amounts and exercising rights expressly provided in the Lock Box Agreement) or (c) exercise of any default enforcement right or remedy available to Subordinate Lender under the Subordinate Loan Documents, at law, in equity or otherwise against the Borrower or the Property.
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Subordinate Loan Enforcement Action means the acceleration of all or any part of the Subordinate Indebtedness, the advertising of or commencement of any foreclosure or trustee’s sale proceedings, the exercise of any power of sale, the acceptance of a deed or assignment in lieu of foreclosure or sale, the collecting of rents, the obtaining of or seeking of the appointment of a receiver, the seeking of default interest, the taking of possession or control of any of the Mortgaged Property, the commencement of any suit or other legal,
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Related to Subordinate Loan Enforcement Action

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • 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.

  • Term Loan Claims means any Claim on account of, arising under, derived from, or based upon the Term Loan Documents, including Claims for all principal amounts outstanding, interest, fees, expenses, costs, and other charges arising thereunder or related thereto.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Second Lien Loan Documents means the “Loan Documents” as defined in the Second Lien Credit Agreement.

  • First Lien Loan Documents means the “Loan Documents” as defined in the First Lien Credit Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Term Loan Collateral means all assets, whether now owned or hereafter acquired by any Loan Party, in which a Lien is granted or purported to be granted to any Term Loan Secured Party as security for any Term Loan Obligation.

  • Second Lien Loans means “Loans” under and as defined in the Second Lien Credit Agreement.

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Subordinated Loan Documents means the Subordinated Credit Agreement, the promissory notes executed and delivered pursuant to the Subordinated Credit Agreement, and each other agreement, instrument, or document executed by the Borrower or any of its Subsidiaries or any of their Responsible Officers in connection with the Subordinated Credit Agreement.

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement.

  • DIP Lender means a lender under the DIP Facility.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Closing Dates thereof among the Borrower, the other Credit Parties from time to time party thereto, the Second Lien Lenders and the Second Lien Administrative Agent, as the same may be amended, restated and/or modified from time to time subject to the terms thereof.

  • Subordinated Loan Agreement means a binding agreement with a Subordinated Debt Provider providing unsecured debt financing for the benefit of the Energy Complex and on terms and conditions that shall satisfy the requirements of the Financing Documents.

  • Other First Lien Obligations means (a) the due and punctual payment by any Pledgor of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding) on Indebtedness under any Other First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii) all other monetary obligations of such Pledgor to any Secured Party under any Other First Lien Agreement, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable as a claim in such proceeding), (b) the due and punctual performance of all other obligations of such Pledgor under or pursuant to any Other First Lien Agreement and (c) the due and punctual payment and performance of all the obligations of each other Pledgor under or pursuant to any Other First Lien Agreement.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.