Priority Loan definition
Examples of Priority Loan in a sentence
Rent $0 N/A $0 $0 Utilities/Maintenance $30,481 N/A $0 $30,481 Equipment $0 N/A $0 $0 Access Technology $0 N/A $0 $0 Common Identifier $0 N/A $0 $0 Partner 1: EDD (WP, Vet, TAA) $30,481 20% $6,124.56 $6,124.56 $0 Partner 2: HHS (TANF/WIOA) $30,481 80% $24,356.44 $24,356.44 $0 The CEO, the Local Board Chairperson, and all colocated AJCC partners included in the sharing of infrastructure costs must sign.
If the new First Priority Obligations under the new First Priority Loan Documents are secured by assets of the Grantors constituting Collateral that do not also secure the Second Priority Obligations, then the Second Priority Obligations shall be secured at such time by a Second Priority Lien on such assets to the same extent provided in the Second Priority Collateral Documents and this Agreement.
In the Exercise of Secured Creditor Remedies, the First Priority Agent and the First Priority Creditors may enforce the provisions of the First Priority Loan Documents and Exercise Any Secured Creditor Remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion, subject to the terms of this Agreement.
Each of the Revolving Loan Creditors also irrevocably authorizes and empowers the Term Loan Agent, in the name of such Revolving Loan Creditor, to demand, ▇▇▇ for, collect and receive any and all such Distributions from Term Priority Loan Collateral.
Except as otherwise provided herein, the Second Priority Creditors will be entitled to manage and supervise their respective loans and extensions of credit under the Second Priority Loan Documents, respectively, in accordance with law and as they may otherwise, in their sole discretion, deem appropriate.