Subordinate Lien Trustee definition

Subordinate Lien Trustee means U.S. Bank National Association as trustee or its permitted successor as trustee under the Subordinate Trust Agreement.
View Source
Subordinate Lien Trustee means the trust company or bank serving as trustee under the Subordinate Lien Indenture.
View Source

Examples of Subordinate Lien Trustee in a sentence

  • At any time that a Term Loan is outstanding, the Lender shall notify the Authority and the Subordinate Lien Trustee of any change in Lender’s Prime Rate used in determining the Base Rate promptly following the establishment of such change; provided, however, that the failure by the Lender to provide notice of such change shall not relieve the Authority of its obligation to make payment of amounts as and when due hereunder.

  • The Authority, without the prior written consent of the Lender, which consent shall not be unreasonably withheld, conditioned or delayed, shall not take any action or refrain from taking any action that results in a change of the Subordinate Lien Trustee.

  • Any Subordinate Lien Trustee shall have capital of not less than $500,000,000, and any such Trustee or its respective parent organization shall have an underlying rating from ▇▇▇▇▇’▇ and S&P of at least “A2” (or its equivalent) and “A” (or its equivalent), respectively.

  • Notwithstanding any transfer or assignment, the Authority and the Subordinate Lien Trustee shall be required to deal only with the Lender.

  • The Lender and its affiliates may accept deposits from, extend credit to and generally engage in any kind of banking, trust or other business with the Authority and the Subordinate Lien Trustee regardless of the capacity of the Lender hereunder.

  • Each Advance shall be made by the Lender by wire transfer of immediately available funds to the Subordinate Lien Trustee (on behalf of the Authority) in accordance with written instructions provided by the Authority.

  • Subject to Annual Appropriation of sufficient funds for the purpose, the City and County each agree to satisfactorily and punctually perform all its agreements and obligations provided for by the Phase II City-County Lease, including its obligations to make payments of Phase II City Rent and Phase II County Rent, respectively, to the Subordinate Lien Trustee upon the terms to be set forth in the Phase II City-County Lease.

  • Any Subordinate Lien Trustee shall have capital of not less than $500,000,000, and any such Subordinate Lien Trustee or its respective parent organization shall have an underlying rating from ▇▇▇▇▇’▇ and S&P of at least “A2” (or its equivalent) and “A” (or its equivalent), respectively.

  • Notwithstanding anything herein to the contrary, where this Agreement provides for payment by the Authority to the Lender for any amount, the Authority may satisfy such obligation by causing the Subordinate Lien Trustee to pay such amount directly to the Lender from Subordinate Pledged Revenues under the Subordinate Trust Agreement or Pledged Revenues under the Senior Lien Trust Agreement, as applicable.

  • Each Owner and its affiliates may accept deposits from, extend credit to and generally engage in any kind of banking, trust or other business with the Authority and the Subordinate Lien Trustee regardless of the capacity of such Owner hereunder.