Junior Loan definition

Junior Loan has the meaning provided in the Recitals hereto.

Junior Loan defined in Section 7.3 of the Loan Agreement.

Junior Loan means any one of them.

Examples of Junior Loan in a sentence

• Lender and Junior Lender have no obligation to disclose to Borrower the contents of the Junior Loan Co-Lender Agreement.

• Provided no Event of Default has occurred and is continuing, any Excess Cash Flow Funds remaining in the Excess Cash Flow Account upon the repayment in full of the Debt shall be disbursed to Borrower, unless any amount remains outstanding at such time pursuant to the Junior Loan Documents, in which case such funds shall be, and Borrower hereby directs that such funds be, disbursed to Junior Lender.

• Borrower and Xxxxxx hereby acknowledge and agree that Lender may conclusively rely on any notice delivered by Junior Lender without any inquiry into the validity thereof, including, without limitation, a notice from Junior Lender that a Junior Loan Event of Default has occurred or is continuing.

• After written request by Xxxxxx made no more than one time in any calendar year, Borrower shall from time to time, use reasonable efforts to obtain from Junior Lender such estoppel certificates with respect to the status of the Junior Loan and compliance by Borrower with the terms of the Junior Loan Documents as may reasonably be requested by Xxxxxx.

• In all instances in this Article 7 where any excess Reserve Funds are to be disbursed to Borrower, such Reserve Funds shall instead be, and Borrower hereby directs the same to be, disbursed to Junior Lender, as a distribution permitted in accordance with applicable Legal Requirements, if Lender has received notice that a Junior Loan Event of Default then exists.

More Definitions of Junior Loan

Junior Loan shall have the meaning assigned to such term in the Intercreditor Agreement.

Junior Loan means any Source of Financing in the form of a loan, credit enhancement or construction period guaranty facility, secured by a deed of trust or other instrument against the Leasehold, which is subordinate to the Agency Deed of Trust and the other Agency Loan Documents. For purposes herein, the Junior Loans shall include loans from Owner’s gap financing sources.

Junior Loan has the meaning specified in Section 2.01(b).

Junior Loan means a loan (including any term loan, delayed draw term loan or revolving loan or participation thereof, but excluding any Holding Company Loan or Asset Based Loan), note, convertible note or debenture that is not a Senior Loan.

Junior Loan means the aggregate principal amount owing to the Junior Lenders under this Agreement in respect of the Junior Commitments at any relevant time;

Junior Loan any indebtedness incurred by Owners which is secured by a mortgage, pledge, and related security instruments against, among other things, the membership interests of XX XX Holdings in AL Investors Development and AL Investors II and/or the membership interests of AL Investors Development in the Facility Entities. Initially, the Junior Loan is evidenced by that certain Loan Agreement among XX XX Holdings, AL Investors II, AL Investors Development and the Facility Entities and Senior Housing Partners I, L.P. dated on or about the same date hereof ("Initial Junior Loan"). Land: the parcel or parcels of land on which each of the Facilities is situated, together with all rights of ingress and egress thereto and parking associated therewith as legally described in the Purchase Agreements. Leases: Collectively, the Ordinary Leases and Major Leases. Legal Requirements: collectively, all statutes, ordinances, by-laws, codes, rules, regulations, restrictions, orders, judgments, decrees and injunctions (including, without limitation, all applicable building, health code, zoning, subdivision, and other land use and assisted living licensing statutes, ordinances, by-laws, codes, rules and regulations), whether now or hereafter enacted, promulgated or issued by any Governmental Authority, Accreditation Body or Third Party Payor affecting a Facility Entity or any Facility or the ownership, construction, development, maintenance, management, repair, use, occupancy, possession or operation thereof or the operation of any programs or services in connection with a Facility, including, without limitation, any of the foregoing which may (i) require repairs, modifications or alterations in or to any Facility, (ii) in any way affect (adversely or otherwise) the use and enjoyment of any Facility or (iii) require the assessment, monitoring, clean-up, containment, removal, remediation or other treatment of any Hazardous Substances on, under or from any Facility. Without limiting the foregoing, the term "Legal Requirements" includes all Environmental Laws and shall also include all Permits and Contracts issued or entered into by any Governmental Authority, any Accreditation Body and/or any Third Party Payor and all Permitted Encumbrances. Lending Group: Guaranty Federal Bank, F.S.B. in a debt facility referred to herein as the Initial Senior Loan secured by the Facilities in the maximum aggregate original principal balance of $31,600,000 (assuming all Facilities are acquired by Owne...

Junior Loan means the junior loan facility of up $173,500,000 to be provided to the Borrower by the Junior Lenders in order to finance part of the acquisition cost of the Ships or, as the context may require, the principal amount (including any capitalised interest thereon) thereof outstanding under the Junior Loan Agreement;