Subordinate Loan definition

Subordinate Loan has the meaning assigned to such term in the Loan Agreement. “Subordinate Loan Documents” has the meaning assigned to such term in the Loan Agreement.

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Subordinate Loan means an advance to Seller from Subordinate Lender under the Subordinated Facility Agreement (and such advances collectively being the “Subordinate Loans”).

Subordinate Loan means a loan in respect of which a claim on assets is subsequent to the claim on the assets in respect of another loan and which is specified as such in an agreement providing finance.

Examples of Subordinate Loan in a sentence

• Until Subordinate Lender receives a default notice of a Senior Security Instrument Default from Senior Lender, Subordinate Lender shall be entitled to retain for its own account all payments made under or pursuant to the Subordinate Loan Documents provided that such payments are otherwise permitted under the terms of this Agreement.

• Upon execution and delivery of the Subordinate Loan Documents, Borrower shall deliver to Senior Lender an executed copy of each of the Subordinate Loan Documents, certified to be true, correct and complete.

• The Subordinate Loan is evidenced by the Subordinate Note and is secured by the Subordinate Mortgage.

• By executing this Agreement, ▇▇▇▇▇▇▇▇ specifically authorizes Subordinate Lender to endorse and remit any such payments to Senior Lender, and specifically waives any and all rights to have such payments returned to Borrower or credited against the Subordinate Loan.

• Each of the Subordinate Loan Documents is, and will at all times remain, subject and subordinate in all respects to the liens, terms, covenants, conditions, operations, and effects of each of the Senior Loan Documents.

More Definitions of Subordinate Loan

Subordinate Loan has the meaning provided in the Recitals hereto. “Subordinate Loan Commitment” has the meaning provided in the Recitals

Subordinate Loan means the loan(s) made to Seller by Subordinate Lender in accordance with the terms of the Subordinated Facility Agreement.

Subordinate Loan means that certain $[INSERT AMOUNT OF LOAN] loan made by Subordinate Lender to Borrower, as evidenced by the Subordinate Note and secured by the Subordinate Mortgage.

Subordinate Loan shall have the meaning set forth in the recitals.

Subordinate Loan means the One Million Five Hundred Thousand Dollar ($1,500,000) loan to Borrower by the Subordinate Lender.

Subordinate Loan means the loan made by the Issuer to the Borrower in the original principal amount of $ pursuant to the Subordinate Loan Agreement.

Subordinate Loan means, with respect to a Serviced Loan Group, a related Serviced Companion Loan that is subordinate in priority to the related Senior Mortgage Loan.