Senior Security Instrument Default definition

Senior Security Instrument Default means a "Monetary Event of Default" or a "Covenant Event of Default" as defined in the Senior Security Instrument.

Senior Security Instrument Default means a Senior Loan Monetary Event of Default or a Senior Loan Covenant Event of Default.

Senior Security Instrument Default means a Monetary Event of Default or a Covenant 122 Event of Default. 123 124 “Subordinate Indebtedness” means all present and future indebtedness, obligations, and 125 liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan 126 or the Subordinate Loan Documents. 127 128 “Subordinate Lender” means the Entity that qualifies under Program Obligations and identified 129 as “Subordinate Lender” in the first paragraph of this Agreement. 130

Examples of Senior Security Instrument Default in a sentence

• Notwithstanding any contrary provision contained in the Subordinate Loan Documents, a Senior Security Instrument Default shall not constitute a default under the Subordinate Loan Documents if no other default occurred under the Subordinate Loan Documents.

• Until Subordinate Lender receives a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate Lender shall be entitled to retain for its own account all payments made under or pursuant to the Subordinate Loan Documents provided that such payments are otherwise permitted under the terms of this Agreement.

• Xxxxxxxx agrees that, after it receives notice (or otherwise acquires knowledge) of a Senior Security Instrument Default, it will not make any payments under or pursuant to the Subordinate Loan Documents (including but not limited to principal, interest, additional interest, late payment charges, default interest, attorney's fees, or any other sums secured by the Subordinate Mortgage) without Senior Xxxxxx's prior written consent.