Junior Bank definition
Examples of Junior Bank in a sentence
Compliance with this subsection shall be evidenced by a collateral assignment delivered to Senior Bank and Junior Bank by Borrower within ninety (90) days from the execution of this Agreement.
Senior Bank and/or Junior Bank (and any subsequent assignee) may transfer and assign any of its rights or delegate any of its duties under this Agreement or may transfer or assign partial interests or participation in the Loans to other persons.
Within forty (40) days of the close of each fiscal quarter, Borrower shall deliver to Senior Bank and Junior Bank a Compliance Certificate in the form attached hereto as Exhibit 4.2(k) confirming, in addition to the other information set forth therein, the Borrower's compliance with the financial covenants set forth herein and that no Event of Default has occurred.
Interest payments will be made in immediately available funds at the principal office of the Junior Bank on the last day of each month in arrears, beginning on the last day of the calendar month subsequent to the calendar month in which this Agreement is executed and continuing during the term hereof.
All such policies will (a) be issued by financially sound and reputable insurers, (b) name Senior Bank and Junior Bank as additional insureds and, where applicable, as loss payees under a lender loss payable endorsement satisfactory to Bank, and (c) will provide for thirty (30) days written notice to Senior Bank and Junior Bank before such policy is altered or canceled.
Borrower will, within three (3) days of its knowledge thereof, give written notice to Senior Bank and Junior Bank of: (a) the occurrence of any event or the existence of any condition which would be, after notice or lapse of applicable grace periods, an Event of Default under this Agreement or any other Obligation, and (b) the occurrence of any event or the existence of any condition which would prohibit Borrower from continuing to make the representations set forth in this Agreement.
Senior Bank and Junior Bank may disclose to all prospective and actual assignees and participants all financial, business and other information about Borrower which Senior Bank or Junior Bank may possess at any time.
There shall have been delivered to He-Ro executed copies of the Junior Bank Group Debt Purchase Agreements.
Han shall have paid to the Junior Bank Group by wire transfer of immediately available funds an amount equal to $1,125,000 in full satisfaction of the purchase price for the Junior Debt in accordance with the Junior Bank Group Debt Purchase Agreement.
Davies with a minimum death benefit of $8,000,000 ("Key Man Po▇▇▇▇"), ▇▇▇▇ the beneficiary of said policy being the Borrower, and the requisite proceeds being assigned to Senior Bank and Junior Bank in amounts relative to the outstanding balance due of the Term Notes.