Junior Loan definition

Junior Loan has the meaning provided in the Recitals hereto.

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Junior Loan defined in Section 7.3 of the Loan Agreement.

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

Examples of Junior Loan in a sentence

• In the event of any conflict, ambiguity or inconsistency between the terms and conditions of this Agreement and the terms and conditions of any of the Senior Loan Documents or the Junior Loan Documents, the terms and conditions of this Agreement shall control.

• To Junior Lender’s knowledge, there currently exists no default or event which, with the giving of notice or the lapse of time, or both, would constitute a default under any of the Junior Loan Documents.

• Junior Lender promptly shall notify Senior Lender of any intended action relating to the Junior Loan which would require Rating Agency Confirmation pursuant to this Agreement and shall cooperate with Senior Lender in obtaining such confirmation.

• So long as all or any portion of the Senior Loan and the Junior Loan remains unpaid and the Senior Security Instrument encumbers the Premises, Junior Lender and Senior Lender will each execute, acknowledge and deliver in recordable form and upon demand of the other, any other instruments or agreements reasonably required in order to carry out the provisions of this Agreement or to effectuate the intent and purposes hereof.

• Junior Lender covenants not to Transfer the Junior Loan to Borrower or to any known Affiliate of Borrower.

More Definitions of Junior Loan

Junior Loan means any one of them.

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 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 any indebtedness incurred by Owners which is secured by a mortgage, pledge, and related security instruments against, among other things, the membership interests of ▇▇ ▇▇ Holdings in AL Investors II and/or the membership interests of AL Investors II in the Facility Entities. Initially, the Junior Loan is evidenced by that certain Loan Agreement among ▇▇ ▇▇ 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.

Junior Loan means the loan evidenced and secured by the Junior Loan Documents.