Subordinate Loan Obligations definition

Subordinate Loan Obligations means any and all obligations and advances arising out of or related to the Subordinate Loan Documents, without regard to the application of the proceeds of any such advances, together with all interest, prepayment premiums and other sums (including but not limited to closing costs, legal fees and costs, any and all related expenses) arising out of or related to the Subordinate Loan Documents, and any other debt, liability and obligation of every type and description which Borrower may now or at any time hereafter owe to Subordinate Lender, whether such debt, liability or obligation now exists or is hereafter created or incurred, and whether it is or may be direct or indirect, due or to become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or joint, several or joint and several.
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Subordinate Loan Obligations means all money owed by, and all indebtedness, obligations, and agreements of every kind and nature of, Borrower to or with Subordinate Lender pursuant to the Subordinate Loan Documents, now existing or hereafter arising, whether in the form of loans, interest, Success Fees (as defined in the Subordinate Loan Agreement), charges, indemnities, expenses or otherwise, and whether direct or indirect, acquired outright, conditionally or as collateral security, absolute or contingent, joint or several, liquidated or unliquidated, secured or unsecured, arising by operation of law or otherwise, and all obligations of Borrower to Subordinate Lender to repay amounts due to Subordinate Lender under any existing or future agreements relating to any future advances, renewals, extensions or changes in form of, or substitutions for, any of said indebtedness or liabilities, all the other sums and charges to be paid to Subordinate Lender pursuant to the Subordinate Loan Documents, any Losses (as defined in the Subordinate Loan Agreement), and all interest and late charges on any of the foregoing.
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Subordinate Loan Obligations means all present and future indebtedness, obligations and liabilities of Borrower under the Subordinate Loan Documents, including (a) all principal (including principal which is borrowed, repaid and reborrowed), interest (including interest accruing subsequent to, and interest that would have accrued but for, the filing of any petition under any bankruptcy, insolvency or similar law or the commencement of any Proceeding), default interest, late charges, prepayment fees, expenses, fees, reimbursement obligations relating to Subordinate Lender’s issuance or execution of standby letters of credit or developer’s agreements pertaining to the Property or surrounding properties, other reimbursements, interest rate swaps, collars or other interest rate protection agreements that Borrower may enter into with Subordinate Lender pertaining to the Subordinate Loan, indemnities and other amounts payable thereunder, in each case whether now or hereafter arising, direct or indirect, primary or secondary, joint, several or joint and several, liquidated or unliquidated, final or contingent, and whether incurred as maker, endorser or otherwise; (b) all indebtedness arising from all present and future optional or obligatory advances (including advances to cover overdrafts that pertain to the Property) under the Subordinate Note or any other Subordinate Loan Document, (c) any and all amendments, modifications, extensions, renewals, refinancing or refundings of any of such indebtedness, obligations or liabilities, and (d) any and all sums advanced or expended by Subordinate Lender (whether deemed optional or obligatory advances, or otherwise) which Subordinate Lender deems necessary or appropriate (1) to advance or complete construction of the Property and any Improvements and market the Property or any portion thereof for sale, (2) to repair, maintain or otherwise protect the Property and any Improvements or to prevent waste or destruction or to pay or prevent liens or to defend Borrower’s title or Subordinate Lender’s lien priority, (3) to pay taxes, assessments or insurance premiums in respect of the Property or any Improvements or to otherwise protect Subordinate Lender’s security interest in the Property, any Improvements and any other Collateral, or (4) in connection with Subordinate Lender’s protection or exercise of its rights or remedies under the Subordinate Loan Documents. To the extent any payment on any of the Subordinate Loan Obligations, whether by or on behalf...
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Examples of Subordinate Loan Obligations in a sentence

  • Except as otherwise provided in the Lock Box Agreement, no payment shall be made on account of the Subordinate Loan Obligations at any time when a Senior Default is existing under the Senior Loan Documents or a Junior Default is existing under the Junior Loan Documents.

  • So long as no Senior Default is existing under the Senior Loan Documents and no Junior Default is existing under the Junior Loan Documents, Subordinate Lender may collect and receive Subordinate Permitted Scheduled Payments on account of the Subordinate Loan Obligations.

  • So long as the Senior Loan Obligations, Junior Loan Obligations and the Subordinate Loan Obligations remain outstanding, either party shall execute, acknowledge, and deliver upon the demand of the other party, at any time or times, any and all further documents or instruments in recordable form for the purpose of further confirming the subordination and the agreements herein set forth.

  • As used herein, “Subordinate Permitted Scheduled Payments” shall mean the payments permitted to be made with respect to Subordinate Loan Obligations pursuant to Section 4.1 of the Lock Box Agreement.

  • Subordinate Lender hereby acknowledges a Lien on Collateral securing any Senior Loan Obligations (including for the avoidance of doubt any Senior Loan Obligation arising out of Refinancing Indebtedness) will at all times be senior and prior in all respects to any Lien on such Collateral securing Subordinate Loan Obligations.

  • The Subordinate Lender hereby agrees that the Subordinate Loan Obligations (and the Liens on Collateral securing any Subordinate Loan Obligations) will at all times be junior and subordinate in all respects to any such Refinancing Indebtedness and the Borrower's obligations under such Refinancing Indebtedness will automatically be treated as Senior Loan Obligations for all purposes of this Agreement, including for purposes of lien priority and rights in respect of the Collateral as set forth herein.

  • The priorities herein specified are applicable irrespective of the time of creation of the Senior Loan Obligations, Junior Loan Obligations or the Subordinate Loan Obligations.

Related to Subordinate Loan Obligations

  • 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.

  • Loan Obligations means (a) the due and punctual payment by the Borrower 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 in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, 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 in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • 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.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • 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.

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

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

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

  • Subordinated Lenders means the holders of Subordinated Debt.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

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

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

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

  • Second Lien Loans means the “Loans” as defined in the Second Lien Credit Agreement and shall, for the avoidance of doubt, include Incremental Second Lien Loans.

  • Subordinated Loan Agreement means the subordinated loan agreement dated on or about the Closing Date, as amended from time to time, and entered into by, amongst others, the Issuer, the Subordinated Lender and the Security Trustee, under which the Subordinated Lender will advance (or has advanced) the Subordinated Loan to the Issuer.

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Prepetition Loan Documents means the “Loan Documents” as defined in the Prepetition Credit Agreement, in each case as amended, supplemented, or modified from time to time prior to the Petition Date.