Note Lien Obligations definition
Examples of Note Lien Obligations in a sentence
All obligations of the Grantors set forth in or arising under this Agreement will be Note Lien Obligations and are secured by all Liens granted by the Note Lien Security Documents.
For payment of the Note Lien Obligations, Beneficiary may resort to any other security in such order and manner as Beneficiary may elect.
As to any matter not expressly provided for by this Agreement or the other Note Lien Security Documents, the Collateral Agent may act or refrain from acting as directed by the Required Note Lien Debtholders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on all Secured Parties as holders of Note Lien Obligations.
Make application to a court of competent jurisdiction for, and obtain from such court as a matter of strict right and without notice to Grantor or regard to the adequacy of the Mortgaged Property for the repayment of the Note Lien Obligations, the appointment of a receiver of the Mortgaged Property, and Grantor irrevocably consents to such appointment.
This Agreement sets forth the terms on which the Collateral Agent has agreed with the Trustee to act as the agent for the holders of Notes and other present and future Note Lien Obligations in receiving, holding, maintaining, administering, enforcing and distributing the proceeds of all Collateral at any time granted or delivered to the Collateral Agent and all rights and remedies in respect of such Collateral under the Note Lien Security Documents.
Subject to the other terms of this Agreement, all payments received by (a) the Revolving Credit Claimholders may be applied, reversed and reapplied, in whole or in part, to the Revolving Credit Obligations to the extent provided for in the Revolving Credit Loan Documents; and (b) the Note Lien Claimholders may be applied, reversed and reapplied, in whole or in part, to the Note Lien Obligations to the extent provided for in the Note Lien Documents.
This authorization is coupled with an interest and is irrevocable until both the Discharge of Revolving Credit Obligations and Discharge of Note Lien Obligations have occurred.
Upon the Discharge of Note Lien Obligations, the Note Lien Collateral Agent shall deliver to the Revolving Credit Agent any Collateral and proceeds of Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Revolving Credit Collateral Agent in such order as specified in the Revolving Credit Loan Documents.
Grantor assigns all awards and compensation for any condemnation or other taking, or any purchase in lieu thereof, to Beneficiary and authorizes Beneficiary to collect and receive such awards and compensation and to give proper receipts and acquaintances therefor, to be released by Beneficiary or applied to the Note Lien Obligations in accordance with the terms of the Indenture.
All obligations of the Collateral Agent hereunder will inure to the sole and exclusive benefit of, and be enforceable by, each Note Lien Representative and each present and future holder of Note Lien Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, the Grantors and all of their respective successors and assigns.