Examples of Senior Loan Borrowers in a sentence
Sellers shall cause (i) each of the Casablanca Senior Loan Borrowers to exercise its options to extend the maturity date of the Casablanca Senior Loan for successive one-year periods, first to April 9, 2011, and then to April 9, 2012, and (ii) CSE Casablanca Holdings II LLC to exercise its options to extend the maturity date of the Casablanca Mezzanine Loan for successive one-year periods, first to April 9, 2011, and then to April 9, 2012.
Sellers shall provide the Buyer with copies of the extension notices given by or on behalf of the Casablanca Senior Loan Borrowers and CSE Casablanca Holdings II LLC, respectively, promptly after such notices are sent to the Casablanca Senior Lender and the Casablanca Mezzanine Lender, as the case may be.
Borrower, each Pledgor, BTR Mxxxxx SPE, each of the Property Owners, each of the Senior Loan Borrowers, each of the Managers and the Guarantors have each paid in full all bills and invoices due and payable on or before the date hereof which have been submitted by contractors, materialmen, laborers, architects or other such Persons hired by such Person to perform services or work with respect to any of the Properties and all statutory lien periods have expired with respect to any such services or work.
Notwithstanding anything to the contrary contained in this Agreement or in any of the Mezzanine Loan Documents, each of Borrower, BTR Mxxxxx SPE, each of the Managers, each of the Property Owners and each of the Senior Loan Borrowers shall at all times be a Single Purpose Entity.
Except for the Mezzanine Loan and its obligations under each of the Senior Loans, Borrower, BTR Mxxxxx SPE, each of the Property Owners, each of the Senior Loan Borrowers, and each of the Managers, as of the Closing Date, shall not be indebted to any Person in respect of any indebtedness.
Borrower shall furnish or cause to be furnished to Lender such financial information concerning Borrower, the Principals, each of the Property Owners, any of the Senior Loan Borrowers, each of the Managers, BTR Mxxxxx SPE and any of the Properties or any portion thereof as Lender may reasonably request from time to time.
As of the date hereof, there are no outstanding judgments or claims of any kind against Borrower, any pledgor under a Pledge and Security Agreement, any Guarantor, BTR Mxxxxx SPE, any of the Property Owners, any of the Senior Loan Borrowers, each of the Managers, or any of the Principals or any of their properties in excess of Twenty-Five Thousand Dollars ($25,000) as to any individual judgment or Fifty Thousand Dollars ($50,000) in the aggregate.
No permitted Lien, debt or encumbrance shall be amended, modified, restated or otherwise changed, and neither will Borrower nor any member partner, shareholder or other owner of any interest in Borrower, any of the Managers, any of the Property Owners, any of the Senior Loan Borrowers, or any of the Properties waive any of its rights under the Senior Loan Documents, without, in each case, the prior written consent of Lender.
Borrower shall not, and shall not cause or allow any of the Property Owners, any of the Senior Loan Borrowers, any of the Managers, or BTR Mxxxxx SPE, to fail to be a Single Purpose Entity at any time by doing any of the activities or take any of the actions proscribed in Section 5.12 for a Single Purpose Entity above until the full and final repayment of the Mezzanine Loan and satisfaction of all other obligations under the Mezzanine Loan Documents.
No material payment due or owing by Borrower, any pledgor under a Pledge and Security Agreement, BTR Mxxxxx SPE, each of the Property Owners, each of the Senior Loan Borrowers, each of the Managers or any Guarantor to any Person is past-due or otherwise delinquent.