Subordinate Financing definition

Subordinate Financing shall have the meaning set forth in Section 9.1.2(b).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Subordinate Financing shall have the meaning set forth in Article 28(a) hereof.

Subordinate Financing shall have the meaning set forth in Article 28(a) hereof. “Subsidiary” shall mean, as to any Person, a corporation, partnership or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person.

Examples of Subordinate Financing in a sentence

Seller acknowledges and agrees that the terms of any such Subordinate Financing will provide that a default under the Senior Tranche shall be a default under the respective Subordinate Financing.
Such Subordinate Financing shall be subject to an intercreditor agreement by and between the Lender and the subordinate lender(s).
A default with the related Loan shall be a default under the respective Subordinate Financing.
One hundred percent (100%) of the ownership and economic interests in the Mezzanine Borrower may, at Lender’s discretion, be required to be pledged as security for such tranches of Subordinate Financing, if any.
If the Subordinate Financing takes the form of a mezzanine loan, a mezzanine borrower (the “Mezzanine Borrower”) may be created which will own one hundred percent (100%) of the equity interests in the Borrower.
At Lender’s option, any severed loan or Subordinate Financing shall be cross-defaulted with the Loan.
All of the ownership and economic interests in the Mezzanine Borrower may, at Lender’s discretion, be required to be pledged as security for such mezzanine loan or other Subordinate Financing.
No Subordinate Financing: No additional financing will be permitted without the prior written consent of the Lender and in the event of a default under this restriction, the entire principal, interest, fees and all other amounts under the commitment and security issued pursuant thereto become immediately due and payable.
Borrower hereby acknowledges and agrees that upon such severing of the Loan and/or creation of Subordinate Financing, Lender may effect, in its sole discretion, one or more Securitizations of which the other Loans may be a part.
Lender hereby agrees to be responsible for all reasonable third-party expenses incurred in connection with the preparation and delivery of the Additional Documentation and or other documentation related to Subordinate Financing and, if applicable, the effectuation of the uncrossing of the Loan from the Subordinate Financing.

More Definitions of Subordinate Financing

Subordinate Financing means any combination of the following: cash, purchase of a "B piece" or "residual" certificate, funding of an initial reserve account deposit, issuance of a guaranty, serving as account party on a letter of credit, or other form of subordinate financing in the related securitization. Such subordinate financing shall be acceptable to the Rating Agencies and the Credit Enhancer.

Subordinate Financing means a loan that is subordinate in order of repayment right or lien priority to one or more other financial instruments, existing or proposed, with repayment rights or a lien on the same property.

Subordinate Financing means an obligation that is subordinate in right or lien priority to an existing or proposed lien on the same property.