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

• 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.

• By executing this Agreement, Xxxxxxxx specifically authorizes Subordinate Lender to endorse and remit any such payments to Senior Lender, and specifically waives any and all rights to have such payments returned to Borrower or credited against the Subordinate Loan.

• This Agreement shall be binding upon Xxxxxxxx, Senior Lender and Subordinate Lender and shall inure to the benefit of the respective legal successors and assigns of Senior Lender and Subordinate Lender.

• If Subordinate Lender or Senior Lender defaults in performing or observing any of the terms, covenants or conditions to be performed or observed by it under this Agreement, the other, non-defaulting Lender shall have the right to all available legal and equitable relief.

• Until Subordinate Lender receives a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate Lender shall be entitled to retain for its own account all payments made under or pursuant to the Subordinate Loan Documents provided that such payments are otherwise permitted under the terms of this Agreement.

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 means the Person named as such in the first paragraph on page 1 of this Agreement and any other Person who becomes the legal holder of the Subordinate Note after the date of this Agreement.

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

Subordinate Lender has the meaning ascribed thereto in the recitals;

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.

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.

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