Prudential Loan definition

Prudential Loan shall include all rights to indemnification and other recoveries, if any, in favor of Lender under and pursuant to the Prudential Loan Assignment. The Prudential Loan Agreement and the Vornado Loan Agreement are sometimes collectively referred to herein as the "Loan Agreements"; the Prudential Loan Documents and the Vornado Loan Documents are sometimes collectively referred to herein as the "Loan Documents"; the Prudential Note and the Vornado Note are sometimes collectively referred to herein as the "Notes"; and the Prudential Loan and the Vornado Loan are sometimes collectively referred to herein as the "Loans". Lender desires to sell, and the Participant desires to purchase, an undivided participating interest in the Loans now outstanding under the Loan Agreements as evidenced by the Notes and the related Loan Documents on the terms and conditions set forth below and the Participant desires to contribute to a possible joint effort with Lender with respect to a possible strategic transaction relating to Prime Group Realty Trust (the "REIT") (although as of the date hereof there is no agreement between the parties as to any such joint effort and in the event the parties are unable to reach an agreement with respect to any such joint effort neither Lender nor Participant shall, except as set forth in Section 5(b), owe the other party any obligation with respect to any such possible joint effort).

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Prudential Loan matures or is accelerated so that at closing and as provided in the Amended and Restated Agreement of Limited Partnership, the Partnership would have secured debt of not less than the amount of the Refinanced Debt with the requirement by such lender that Ed N. ▇▇▇▇▇▇▇▇ ▇▇▇ A. S. Glik▇▇▇▇ (▇▇llectively, "Guarantors") give concurrent "bottom dollar" guaranties with respect to the refinanced debt in the amount of $10,700,000 and $2,300,000, respectively. Such "bottom dollar" guaranties must provide that (i) the lender must first foreclose on the Property and reduce the amount of the guaranties by the amount of the proceeds from such foreclosure sale before exercising its rights against Guarantors; (ii) Guarantors will have no personal liability to the extent of any reduction in value of the Property due to an earthquake; and (iii) each "bottom dollar" guaranty shall terminate as to each such Guarantor, thirty (30) days after the death of that particular Guarantor or his spouse. (c) The Deposit shall be at all times invested by Escrow Agent in the following investments ("Approved Investments"): (i) United States Treasury obligations, (ii) United States Treasury-backed repurchase agreements issued by a major money center banking institution reasonably acceptable to Partnership, (iii) Certificates of Deposit or Money Market Accounts of institutions whose deposits are insured by the FDIC or (iv) such other manner as may be reasonably agreed to by Partnership and Contributor. The Deposit shall be disposed of by Escrow Agent only as provided in this Agreement. (d) All payments required to be made under this Agreement shall be made in U.S. funds.

Prudential Loan means the loan, in the principal amount of $40,000,000, made by Prudential Securities Credit Corporation pursuant to that certain Credit Agreement, dated as of November 17, 1997, between Prudential Securities Credit Corporation and the Partnership, as amended and restated by that certain Amended and Restated Credit Agreement, dated as of the date hereof, between the Prudential Lender and the Partnership.

Examples of Prudential Loan in a sentence

Prudential Loan No. 706108495 Clarendon Center/Deed of Trust Notwithstanding anything in this Instrument or at law or in equity to the contrary, none of the Award paid to Lender shall be deemed trust funds and Lender may dispose of these proceeds as provided in this Section.
The Vornado Loan Documents have not been amended or modified by the Lender in any respect, and to Lender's knowledge, except as set forth on Exhibit B, the Prudential Loan Documents have not been amended or modified in any respect.
Prudential Loan No. 706109322 CNL BV Portfolio Deed of Trust, Security Agreement and Fixture Filing (Huntington Terrace - Second) BORROWER MAY LATER CANCEL THIS COVERAGE BY PROVIDING EVIDENCE THAT BORROWER HAS OBTAINED PROPERTY COVERAGE ELSEWHERE.
The Documents may be executed in any number of counterparts Prudential Loan No. 706109330 CNL BV Portfolio Deed of Trust and Security Agreement (with Fixture Filing) (Auburn ▇▇▇▇▇▇▇ - First) with the same effect as if all parties had executed the same document.
Without limiting Lender’s rights and remedies under Article VI or otherwise, if Borrower or the Property are not in compliance with all Laws and Borrower does not promptly cure such non-compliance within Prudential Loan No. 706108495 Clarendon Center/Deed of Trust the applicable grace or cure period provided thereunder, Lender may impose additional requirements upon Borrower for the purpose of securing such compliance obligation, including monetary reserves or financial equivalents.
As of the date hereof and at all times while the Pool Obligations are outstanding, each Borrower represents and warrants for itself and for Property Manager as follows (it being expressly understood and agreed that each Borrower makes the following representations and warranties solely as to such Borrower’s Individual Property and not as to any other property): Prudential Loan Nos.
Incur any individual expense, obligation or liability of any kind of more than $100,000 (other than payment of amounts due under the Prudential Loan and the Loan).
Borrower will not cause or allow any portion of its Individual Property to be misused, Prudential Loan Nos.
These charges shall be paid to defray the expenses incurred by Lender in handling and processing such delinquent payment(s) and to compensate Lender for the loss Prudential Loan No. 706108298 Lehigh Valley Mall Promissory Note 12265141v.4 / 28227-000942 of the use of such funds.
The Borrower shall have duly authorized, executed and delivered a Pledge and Security Agreement substantially in the form of EXHIBIT E and all actions shall have been taken to make the Liens constitute perfected security interests in favor of the Lender, subject only to the Lien securing the Prudential Loan described on SCHEDULE I to the Pledge and Security Agreement.

More Definitions of Prudential Loan

Prudential Loan means the indebtedness for borrowed money owed by the Seller and certain related entities to Prudential Insurance Company of America in the outstanding principal amount of $6,478,000 as of November 30, 1995.

Prudential Loan. As defined in Section 4.1(a).

Prudential Loan means the loan to the Borrower from Prudential made pursuant to the Credit Agreement, dated as of November 17, 1997, between Borrower and Prudential, as the same may be amended, restated, modified or supplemented from time to time as permitted in this Agreement.

Prudential Loan shall have the meaning set forth in Section 4.3.D.