Other Borrower Loans definition

Other Borrower Loans that (i) certain loan to Borrower of even date herewith in the original aggregate principal amount of $15,740,722 and secured by the Holiday Inn InternationalAirport, (ii) certain loan to Borrower of even date herewith in the original aggregate principal amount of $3,322,817 and secured by the Holiday Inn - ▇▇▇▇ Burnie and (iii) certain loan to Borrower of even date herewith in the original aggregate principal amount of $5,214,292 and secured by the Holiday Inn - Lancaster.
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Examples of Other Borrower Loans in a sentence

  • Anything herein to the contrary notwithstanding, the Borrower acknowledges and agrees that the collateral and security provided under the Loan Documents and the Other Borrower Loan Documents are intended to cross-collateralize both the Loan and the Other Borrower Loans as described in Section 8.21.

  • Borrower shall not, without the prior written consent of Lender, create, assume, incur or guaranty, directly or indirectly, any indebtedness or obligation, except for (i) lease financing or purchase money financing for equipment, incurred after the date hereof, which is secured by the equipment so leased or purchased and which lease or purchase money financings do not contain payment obligations, in the aggregate, in excess of $25,000 per year, or (ii) the Other Borrower Loans.

  • Accordingly, the Other Borrower Loans are secured by the Property and the other collateral contemplated by the Loan Documents (the "Loan Collateral"), and the Loan is secured by the Other Hotel Properties and other collateral serving as security for such Other Borrower Loans (the "Other Borrower Loan Collateral").

  • Declare any or all of the Other Borrower Loans and the Related Party Loans to be in default and to pursue all of its rights and remedies with respect thereto.

  • The Other Borrower Loans and the Related Party Loans are cross-defaulted with the Loan and with each other.

  • The Other Borrower Loans are cross-collateralized with the Loan and each other.

  • If the Release Fee received by Lender under this Agreement exceeds the then outstanding principal balance of the Loan, the amount of such excess shall be applied to the Other Borrower Loans, allocated between or among such loans at Lender’s sole discretion.

  • The Other Borrower Loans are cross- collateralized with the Loan and each other.

  • Notwithstanding the foregoing, in the event that all of the Other Borrower Loans have already been paid off in full or if the Loan and the Other Borrower Loans are simultaneously paid off in full, then the Lender shall issue a full release and reconveyance of the Property from the lien of the Mortgage upon receipt of payment equal to the full outstanding principal balance of the Loan.

  • The Other Borrower Loans and the Related Party cross-defaulted with the Loan and with each other.