STATUS OF THE LOAN. 9.1 The Loan shall rank pari passu with all other ordinary debt of the Borrower, but shall be subordinated in all respects to, and rank after, the Borrower’s obligations under the Guarantee and the Security Documents.
STATUS OF THE LOAN. The Loan constitutes and will constitute direct, unsecured and subordinated obligations of the Borrower and is not, and will not be, guaranteed by any other entity. In the event of liquidation or bankruptcy of the Borrower, the rights and claims (if any) of the Lender to payments of the Loan and any other amounts in respect of the Loan (including any accrued and unpaid interest amount or damages awarded for breach of any obligations under this Agreement, if any are payable) shall:
STATUS OF THE LOAN. 8.1 The obligations of the Borrower under the Loan Agreement are not secured by any mortgage, pledge or other security. The Loan shall with other existing unsecured senior debt of the Borrower and shall rank ahead of subordinated capital.
STATUS OF THE LOAN. 8.1 The of the under the Loan are not by or Security. The Loan senior of the and rank of capital.
STATUS OF THE LOAN. As of the Effective Date, the Bank represents to the Buyer in good faith that: (a) Exhibit B sets forth a list of all material documents, instruments and agreements related to the Loan; and (b) after giving effect to amendments dated the date hereof, the Bank has no actual knowledge of any Event of Default under the Loan Agreement or the Mortgage; provided, however, that Bank shall bear no liability of any kind with respect to such representations and that such representations do not constitute a waiver of any provision or term of the Loan Agreement or the Mortgage any related document.
STATUS OF THE LOAN. Borrower and Guarantor acknowledge for the benefit of Lender that the Notes, the Loan Agreement, including this Addendum and all prior addenda, amendments and modifications thereto, the Security Instruments, and any other Loan Documents are all valid and binding obligations enforceable in accordance with their terms, and that neither Borrower nor Guarantor has any offset or defense against the indebtedness evidenced by the Notes or any of the obligations set forth in the Loan Documents. Loan Agreement Gladstone 2020 Facility Loan Nos. 196915, 198677 & 200539 105131550 0053564-00437
STATUS OF THE LOAN. 8.1 The Loan shall rank pari passu with all other senior debt of the Borrower, save for obligations which are mandatory preferred by law and shall rank ahead of subordinated capital.
STATUS OF THE LOAN. Ensure that the Loans rank pari passu in right of payment with the Senior Notes and that the term loan facility evidenced by this Agreement constitutes the initial Unsecured Term Loan Facility (as defined in the Senior Credit Agreement).
STATUS OF THE LOAN. 8.1 During the term of the Loan, the Borrower undertakes to ensure that the obligations of the Borrower under the Agreement at all times rank pari passu to all of the Borrower’s other loans and debt obligations except loans that are agreed to rank behind the Borrower’s other loans and debt obligations (subordinated loans).
STATUS OF THE LOAN. 2.1 The Loan and interest thereon shall be subordinated in right of payment at all times (including but not limited to the event of bankruptcy, liquidation, winding-up, dissolution or other similar proceedings in respect of the Borrower) to the claims of those creditors of the Borrower whose claims are set out in Schedule 1 hereto (the "Creditors").
