Examples of THDA Loan Documents in a sentence
If a default occurs under the THDA Loan Documents, THDA shall notify the Senior Lender and Syndicator in writing within five (5) business days of THDA’s knowledge of the default, which notice shall specify the nature of the default.
This Agreement is expressly limited in application to Senior Lender and THDA and the Senior Loan Documents and the THDA Loan Documents, and, notwithstanding the subordination and priorities between the parties set forth in this Agreement, the parties’ priorities are retained as against all third parties and other instruments or liens as if this Agreement did not exist.
If Senior Lender makes insurance proceeds or a condemnation award to which it is entitled under the Senior Loan Documents available to Borrower for the restoration of the Property, THDA shall also make available to Borrower for the purpose of restoration the insurance proceeds or condemnation award (if any) to which it is entitled under the THDA Loan Documents.
Notwithstanding any prohibition of inferior liens in the Senior Loan Documents, but subject to the terms of this Agreement, Senior Lender agrees that THDA may record the THDA Deed of Trust, and any of the other THDA Loan Documents that need to be recorded.
If there is a taking or threatened taking by condemnation or the exercise of a power of eminent domain (collectively, a “Taking”) or the Property is damaged or destroyed by fire or some other hazard (collectively, a “Casualty”), THDA agrees that its right to participate in any action, adjustment, settlement, award, or insurance proceeds resulting from the Taking or Casualty (under the THDA Loan Documents or otherwise) is subordinate to Senior Lender’s rights under the Senior Loan Documents.
The Luton Street development is due to be submitted for planning in the New Year and the developer is meeting regularly with the residents’ group to consider their input to the design process.
If the default is a non-monetary default that Senior Lender or Syndicator is incapable of curing (such as a bankruptcy, the insolvency of Borrower, or an assignment for the benefit of creditors by Borrower), Senior Lender and Syndicator shall have the right to pay the THDA Loan in full in accordance with the terms of the THDA Loan Documents and obtain the release of the Property and Collateral from any lien or security interest or title created under the THDA Loan Documents.
If Private Lender makes insurance proceeds or a condemnation award to which it is entitled under the Private Loan Documents available to Borrower for the restoration of the Property, THDA shall also make available to Borrower for the purpose of restoration the insurance proceeds or condemnation award (if any) to which it is entitled under the THDA Loan Documents.
If a default occurs under the THDA Loan Documents, THDA shall notify the [Senior/Private] Lender and Syndicator in writing within five (5) business days of THDA’s knowledge of the default, which notice shall specify the nature of the default.
This Agreement is expressly limited in application to Private Lender and THDA and the Private Loan Documents and the THDA Loan Documents, and, notwithstanding the subordination and priorities between the parties set forth in this Agreement, the parties’ priorities are retained as against all third parties and other instruments or liens as if this Agreement did not exist.