Junior Loan Sample Clauses

Junior Loan. The definition of Junior Loan is hereby deleted and ------------ replaced in its entirety with the following: any indebtedness incurred by Owners which is secured by a mortgage, pledge, and related security instruments against, among other things, the membership interests of AL Investors in the Facility Entities. Initially, the Junior Loan is evidenced by that certain Loan Agreement among AL Investors (and the Facility Entities) and Senior Housing Partners I, L.P. dated on or about the same date hereof, as subsequently amended ("Initial Junior Loan").
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Junior Loan. The definition of Junior Loan is hereby deleted and ------------ replaced in its entirety with the following: any indebtedness incurred by Owners which is secured by a mortgage, pledge, and related security instruments against, among other things, the membership interests of XX XX Holdings in AL Investors Development and AL Investors II and/or the membership interests of AL Investors Development or AL Investors II in the Facility Entities. Initially, the Junior Loan is evidenced by that certain Loan Agreement among XX XX Holdings, AL Investors II, AL Investors Development and the Facility Entities and Senior Housing Partners I, L.P. dated on or about the same date hereof, as subsequently amended ("Initial Junior Loan").
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Junior Loan. The Junior Loan is not repaid in full within three (3) Business Days after the Effective Date.
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Junior Loan. Borrower shall not permit Junior Borrower to make or enter into any changes to the terms of the Junior Loan Documents without Lender's prior written consent. Borrower shall cause Lender to be provided with all notices sent or received by Junior Borrower under the Junior Loan.
Sample 1
Junior Loan. A draft of the Junior Loan Documents in form and substance reasonably satisfactory to Lender prior to their execution and, upon their execution, a copy of the fully executed Junior Loan Documents; and evidence that the Junior Loan has been fully advanced by the Junior Lender. The Lender and the Junior Lender shall also have executed the Subordination Agreement in form and substance satisfactory to Lender.
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Junior Loan. Borrower shall not (i) except to the extent expressly permitted in the Junior Loan Subordination Provisions, increase, renew, restate, replace, supplement, extend, amend or modify any Junior Loan Document or any indebtedness secured or evidenced by any Junior Loan Document (the "Junior Indebtedness") (and the total indebtedness secured or evidenced by the Junior Loan Documents shall not be increased) unless the Administrative Agent, prior to the effectiveness of any such increase, renewal, restatement, replacement, supplement, extension, amendment or modification, shall have executed a written instrument evidencing its consent to such action, (ii) execute any document securing, evidencing or guarantying any of the Junior Indebtedness (other than the Junior Loan Documents) or (iii) take any action, or refrain from taking any action, inconsistent with the Junior Loan Subordination Provisions.
Sample 1
Junior Loan. On the Closing Date, subject to the terms and conditions of this Agreement, Lender shall make a loan to Borrower in the principal amount of $23 million (the “Junior Loan”), which shall be funded in full at Closing. The Senior Loan and the Junior Loan are collectively referred to herein as the “Loan”.
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Junior Loan. The parties acknowledge that the Company is the borrower of a loan in the amount of $13,000,000 from Financial (the “Junior Loan”), the repayment of which is secured by the assets of the Company. The parties agree that the Subordinate Loan Agreement (the “Junior Loan Agreement”) and other documents evidencing the Junior Loan (collectively, the “Junior Loan Documents”) shall be amended as follows:
Sample 1

Related to Junior Loan

  • Bridge Loan The proceeds of the Bridge Loan shall be applied by ----------- the Borrower, together with borrowings under the Senior Credit Facility and funds raised in the Equity Financing, to the payment of the Transaction Costs and to pay the consideration for the Xxxxxxxx Acquisition.

  • Existing Loan Seller represents and warrants that the Existing Loan is the only indebtedness secured by the Property and that the information contained on Exhibit H is true, correct and complete. Neither Seller nor any guarantor is in default or breach of any provisions of the documents evidencing the Existing Loan and no event or circumstance has occurred or exists which but for the passage of time would be a default under the Existing Loan. At Closing, Buyer shall assume the Existing Loan and Buyer shall pay all administrative fees, assumption fees and underwriting costs, if any, charged by the Existing Lender in connection with said assumption. Seller shall cooperate with Buyer in Buyer’s efforts related to the assumption of the Existing Loan including executing such applications, certificates and other documents required by the Lender and providing any information required by the Lender in connection with the assumption of the Existing Loan. Seller shall be responsible for the costs of its attorneys, and Buyer shall be responsible for the costs of its attorneys. In addition, Buyer shall be responsible for the cost, if any, of Existing Lender’s attorneys, related to the assumption of the Existing Loan.

  • PPP Loan On or about January 24, 2022, the PPP Loan was forgiven in full by the PPP Lender and the U.S. Small Business Administration in accordance with the terms of the PPP Loan, CARES Act, and all other applicable Laws.

  • The Loan Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date.

  • Junior Liens It being understood that B notes secured by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, there are no subordinate mortgages or junior liens encumbering the related Mortgaged Property. The Seller has no knowledge of any mezzanine debt related to the Mortgaged Property and secured directly by the ownership interests in the Mortgagor.

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Term A Loan The Borrower shall repay the outstanding principal amount of the Term A Loan in equal quarterly installments of $8,437,500 on the last Business Day of each March, June, September and December, beginning with March 31, 2017 (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), with the outstanding principal balance of the Term A Loan due on the Term A Maturity Date, unless accelerated sooner pursuant to Section 9.02.

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Bridge Loans For purposes of determining the maturity date of any Indebtedness, customary bridge loans that are subject to customary conditions (including no payment or bankruptcy event of default) that would automatically either be extended as, converted into or required to be exchanged for, permanent refinancing shall be deemed to have the maturity date as so extended, converted or exchanged.

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