Equity Bridge Loan definition
Examples of Equity Bridge Loan in a sentence
No action or failure to act on the part of Senior Lender or Funding Lender in the event of an Equity Bridge Loan Default or commencement of an Enforcement Action will constitute a waiver on the part of Senior Lender or Funding Lender of any provision of the Senior Loan Documents or this Agreement.
If there is any conflict or inconsistency between the terms of the Equity Bridge Loan Documents and the terms of this Agreement, then the terms of this Agreement will control.
If Equity Bridge Lender either (i) amends the Equity Bridge Loan Documents in the manner set forth above or (ii) assigns the Equity Bridge Loan without Funding Lender’s consent then such amendment or assignment will be void ab initio and of no effect whatsoever.
Equity Bridge Lender agrees that all proceeds advanced to Borrower under the Equity Bridge Loan Documents prior to the completion of the Repairs in accordance with the terms of the Continuing Covenant Agreement will be made to the Fiscal Agent or otherwise in accordance with the payment instructions received from Funding Lender to be deposited in the [Borrower Equity Account][Bridge Loan Account] and disbursed in accordance with the terms of the Continuing Covenant Agreement.
Accordingly, upon the occurrence of an Equity Bridge Loan Default, Equity Bridge Lender will be deemed to have actual knowledge of a Senior Mortgage Default.