Subordinate Lender definition

Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

Subordinate Lender means the Entity named as such in the first paragraph on page 1 of this Agreement.

Subordinate Lender has the meaning provided in the first paragraph of this Agreement.

Examples of Subordinate Lender in a sentence

• All amounts paid by Subordinate Lender to Senior Lender to cure a Senior Loan Default shall be deemed to have been advanced by Subordinate Lender pursuant to, and shall be secured by the Subordinate Loan Agreement and the Subordinate Mortgage.

• Subordinate Lender shall have the right, but not the obligation, to cure any such Senior Loan Default within sixty (60) days following the date of such Default Notice or the date on which Subordinate Lender otherwise acquires actual knowledge of Senior Loan Default; provided, however, that Senior Lender shall be entitled during such sixty (60) day period to continue to pursue its remedies under the Senior Loan Documents.

• Senior Lender’s permission for the placement of the Subordinate Loan does not constitute Senior Lender as a joint venturer or partner of Subordinate Lender.

• This Agreement shall be binding upon Borrower, Senior Lender and Subordinate Lender and shall inure to the benefit of the respective legal successors, transferees and assigns of Borrower, Senior Lender and Subordinate Lender.

• Senior Lender shall deliver to Subordinate Lender a Default Notice within five (5) Business Days in each case where Senior Lender has given a Default Notice to Borrower.

More Definitions of Subordinate Lender

Subordinate Lender means the Entity that qualifies under Program Obligations and named as such in the first paragraph on page 1 of this Agreement.

Subordinate Lender has the meaning ascribed thereto in the recitals;

Subordinate Lender means the Entity identified as “Subordinate Lender” in the first paragraph of this Agreement.

Subordinate Lender means, as to the Subordinate Governmental Lender Loan, the Los Angeles County Development Authority, and, as to the Subordinate City Land Loan, the City.

Subordinate Lender means [ ].

Subordinate Lender means the Person named as such in the first paragraph on page 1 of this Agreement, any successor or assign of Subordinate Lender, including without limitation, a receiver, trustee or debtor-in-possession and any other Person who becomes the legal holder of the Subordinate Note after the date of this Agreement.

Subordinate Lender means the Entity that qualifies under Program Obligations and identified as “Subordinate Lender” in the first paragraph of this Agreement.