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.

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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

• The Subordinate Lender hereby appoints the Senior Lender, or any person or entity acting upon the directions of the Senior Lender, as its attorney-in-fact for the sole and limited purpose of inserting information in this Agreement regarding the date and recording of the Senior Deed of Trust.

• All necessary action on the part of the Subordinate Lender, its officers, directors, partners, members and shareholders, as applicable, necessary for the authorization of this Agreement and the performance of all obligations of the Subordinate ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ has been taken.

• The execution, delivery and performance of and compliance with this Agreement by Subordinate Lender will not (i) result in any material violation or default of any term of any of the Subordinate Lender’s charter, formation or other organizational documents (such as Articles or Certificate of Incorporation, bylaws, partnership agreement, operating agreement, etc.) or (ii) violate any material applicable law, rule or regulation.

• The Subordinate Loan is evidenced by that certain Promissory Note dated , made by Borrower for the benefit of Subordinate Lender (the “Subordinate Note”).

• Borrower covenants and agrees that it shall not incur any debt, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than the (a) AHIF Loan, (b) Senior Lender Loan, (c) VHDA Gap Loan, (d) Subordinate Lender Loan, and (e) advances or trade debt or accrued expenses incurred in the ordinary course of business of operating the Property.

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 means, individually and collectively, the lenders of the Subordinate Debt.

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

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 [ ].

Subordinate Lender means the City of Los Angeles as lender of the Subordinate City Loan.

Subordinate Lender has the meaning ascribed thereto in the recitals;