Subordinate Loan Agreement definition
Examples of Subordinate Loan Agreement in a sentence
The Company hereby appoints Brookdale as its true and lawful attorney-in-fact for purposes of giving notice of optional prepayment in accordance with subsection 2.3(e) of the Subordinate Loan Agreement, which appointment as attorney-in-fact is irrevocable and is coupled with an interest.
Nothing in this Agreement or any other Loan Document shall be deemed or operate to affect the right of Administrative Agent to serve legal process in any other manner permitted by law or to preclude the enforcement by Administrative Agent of any judgment or order obtained in such forum or the taking of any action under this Agreement or any other Loan Document to enforce same in any other appropriate forum or jurisdiction.
Borrower and Lenders are entering into a security agreement under which Borrower grants to Senior Lenders on a senior basis and to Subordinate Lender on a subordinate basis (i) a security interest in Borrower’s rights under the City PFS Agreement to secure Borrower’s obligations under the Senior Loan Documents and the Subordinate Loan Agreement and (ii) a security interest in Borrower’s rights as assignee under the Intergovernmental Agreement.
Whenever in this Subordinate Loan Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Borrower which are contained in this Subordinate Loan Agreement shall bind its successors and assigns and inure to the benefit of the successors and assigns of the Issuer and the Subordinate Trustee.
This Subordinate Loan Agreement shall become effective upon its execution and delivery by the parties hereto, shall be effective and remain in full force from the date hereof, and, subject to the provisions hereof, shall expire on such date as the Subordinate Indenture shall terminate.