Subordinate Indebtedness definition

Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

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Subordinate Indebtedness means, collectively the Subordinate Lien Bonds and Subordinate Lien Obligations

Subordinate Indebtedness means, collectively or individually, as the context requires, the Subordinate Bonds and Subordinate Obligations.

Examples of Subordinate Indebtedness in a sentence

Request that the Subordinate Mortgagee take any action which has the effect of increasing the Subordinate Indebtedness.
However, immediately upon Subordinate Mortgagee’s receipt of Notice or actual knowledge of a Senior Mortgage Default, Subordinate Mortgagee will not accept any payments on account of the Subordinate Indebtedness, and the provisions of Section 2(c) of this Agreement will apply.
The subordination of the Subordinate Indebtedness will continue if any payment under the Senior Loan Documents (whether by or on behalf of Borrower, as proceeds of security or enforcement of any right of set-off or otherwise) is for any reason repaid or returned to Borrower or its insolvent estate, or avoided, set aside or required to be paid to Borrower, a trustee, receiver or other similar party under any bankruptcy, insolvency, receivership or similar law.
The current unpaid principal balance of the Subordinate Indebtedness is [$ ].
Except as provided in this Section 4(i), and regardless of any contrary provision in the Subordinate Loan Documents, Subordinate Mortgagee will not collect payments for the purpose of escrowing for any cost or expense related to the Mortgaged Property or for any portion of the Subordinate Indebtedness solely as may be secured by, or arising under the Subordinate Loan Documents.

More Definitions of Subordinate Indebtedness

Subordinate Indebtedness means obligations issued in compliance with Section 6 of this Declaration which are secured by a lien on, and pledge of, the North Macadam Tax Increment Revenues which are subordinate to the lien on, and pledge of, the North Macadam Tax Increment Revenues which secure the Bonds.

Subordinate Indebtedness means any Indebtedness which is unsecured, secured by a Lien that is junior in priority to the Lien securing the Obligations, subordinated or junior in right of payment to the Loans and, with respect to the Guarantors, the guarantees of the Loans hereunder.

Subordinate Indebtedness means Indebtedness of the Borrower, the Parent and their respective Subsidiaries which (a) shall not mature, become payable or require the payment of any principal amount thereof (or any amount in lieu thereof) or be mandatorily redeemable, pursuant to a sinking fund or otherwise redeemable at the option of the holder thereof, in any case in whole or in part, before the date that is 91 days after the Maturity Date and (b) shall be junior and subordinate to the Obligations and subject to an intercreditor agreement or subordination provisions which are in accordance with the then prevailing customary market terms and conditions.

Subordinate Indebtedness means Indebtedness of the Borrower, the Parent and their respective Subsidiaries which (a) shall not mature, become payable or require the payment of any principal amount thereof (or any amount in lieu thereof) or be mandatorily redeemable, pursuant to a sinking fund or otherwise redeemable at the option of the holder thereof, in any case in whole or in part, before the date that is 181 days after the Term Maturity Date and (b) shall be junior and subordinate to the Obligations and subject to an intercreditor agreement or subordination provisions and other terms and provisions which are acceptable to the Administrative Agent.

Subordinate Indebtedness means unsecured indebtedness that is subordinate and junior in right of payment to the Notes and which does not provide for amortization of principal on terms less favorable to the Company than equal monthly installments over a five-year period; and

Subordinate Indebtedness. Indebtedness which by its terms is subordinate in right of payment to payments on or with respect to the Loans or otherwise with respect to Obligations under this Agreement.

Subordinate Indebtedness means debt, other than General Obligation Indebtedness, the payment of the principal and interest on which is secured by a lien on Net Revenues that is subordinate to the lien on Net Revenues securing the payment of the Principal of and interest on Interest on the Bonds, including any loan or other obligation payable to the State under a State loan program unless by its terms it is stated to be on parity with the Bonds.