Prime Documents definition
Examples of Prime Documents in a sentence
Notwithstanding any provision contained in this Agreement or the other Prime Documents to the contrary, the obligations of Senior Lender under this Intercreditor Agreement and the Prime Documents shall be enforceable only against the interest of Senior Lender in the Senior Loan Documents as such interest may exist from time to time.
Senior Lender and Prime intend that the relationship between them created by the Prime Documents is of senior lender and junior lender and not that of lender and borrower, joint venturers or tenants in common.
Senior Lender may transfer, by assignment, participation or otherwise, the Senior Loan Documents, or any interest therein and any or all of its right, liabilities, or obligations under the Prime Documents to any one or more of its Affiliates, separate accounts, nominees and subsidiaries or to any other person or entity.
References to attorneys' fees or the like in this Agreement and in any of the other Prime Documents shall include (a) the reasonable fees charged by attorneys who are employees of Senior Lender or any of its Affiliates and (b) reasonable attorneys' fees incurred in any trial and appellate proceedings.
Prime hereby pledges its interest in the Blocked Accounts to Senior Lender as security for its obligations under this Intercreditor Agreement and the other Prime Documents.
In the event of a default by Prime, Senior Lender shall nonetheless be entitled to exercise all remedies available under the Prime Documents against the Property, the Gross Revenues and other security as are set forth therein or as may otherwise be available under law.
Prime hereby consents and agrees that, subject to the provisions of this Agreement and the other Prime Documents, any lawful action taken by or on behalf of Senior Lender in the exercise of Senior Lender's rights and/or remedies under the Senior Loan Documents (including, without limitation, any foreclosure or acquisition of title to the Property or any part thereof by deed in lieu of foreclosure or otherwise) are hereby deemed to be consented to and approved by Junior Lenders in all respects.
The Junior Loan Documents are hereby pledged to Senior Lender as security for Prime’s obligations under this Agreement and the other Prime Documents.
If the Reset Terms are so accepted, Senior Lender will prepare within thirty (30) days thereafter, and Senior Lender and Prime will promptly execute, a modification or modifications of this Intercreditor Agreement and the Prime Documents in accordance with Exhibit 7 attached hereto and otherwise as Senior Lender and Prime deem necessary to reflect the Reset Terms.
The Junior Loan Documents are hereby pledged to Senior Lender as security for Prime's obligations under this Agreement and the other Prime Documents.