Subordinate Bond Loans definition

Subordinate Bond Loans means (i) the loan made by the Governmental Lender to the Borrower in the original principal amount of $20,000,000 with respect to the B1 Bonds, and (ii) the loan made by the Governmental Lender in the original principal amount of up to $25,000,000 with respect to the B2 Bonds.
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Examples of Subordinate Bond Loans in a sentence

  • The Borrower Loan shall be senior in right of payment and security to the Subordinate Bond Loans and all debt service payments (including, but not limited to, interest and principal, whether at maturity or by mandatory prepayment, acceleration or otherwise) on the Subordinate Bond Loans, and all other payment obligations of the Borrower with respect to the Subordinate Bond Loans or the Subordinate Bonds.

  • The Borrower Loan shall be senior in right of payment and security to the Subordinate Bond Loans and all debt service payments (including, but not limited to, interest and principal, whether at maturity or by mandatory prepayment, acceleration or otherwise) on the Subordinate Bond Loans, and all other payment obligations of the Borrower with respect to the Subordinate Bond Loan or the Subordinate Bonds.