Junior Lender definition

Junior Lender is defined in Section 43(e).

Junior Lender means the Initial Junior Lender, except that, if the Junior Loan has been Transferred pursuant to Section 4 of this Agreement, then “Junior Lender” shall mean the transferee with respect to such Transfer.

Junior Lender means the transferee with respect to such Transfer.

Examples of Junior Lender in a sentence

• This Agreement shall be effective and may not be terminated or otherwise revoked by Junior Lender until all of Borrower’s obligations to Senior Lender related to the Loan (the “Obligations”) shall have been fully paid and discharged and all financing arrangements between Borrower and Senior Lender have been terminated.

• Prior to any Event of Default, Junior Lender may receive payment from Borrower in respect of the Junior Debt.

• Senior Lender shall be entitled to manage and supervise the Obligations and other financial accommodations to Borrower without regard to the existence of any rights that Junior Lender may now or hereafter have in or to any of the assets of Borrower.

• Junior Lender further covenants that the entire Junior Debt shall continue to be owing only to Junior Lender unless it is assigned, in whole or in part, (which assignment may occur without the prior consent of Senior Lender) to a person who agrees with Senior Lender to be bound by the subordination provisions set forth herein.

• Upon and during the continuance of any Event of Default, Junior Lender will not ask, demand, sue for, take or receive from Borrower or any other person liable for all or any part of the Senior Debt, by setoff or in any other manner, the whole or any part of the Junior Debt, or any monies which may now or hereafter be owing in respect of the Junior Debt (whether such amounts represent principal or interest, or obligations which are due or not due, direct or indirect, absolute or contingent).

More Definitions of Junior Lender

Junior Lender means, collectively, the holders of the Junior Notes.

Junior Lender means the maker of any Junior Loan or beneficiary of any Junior Loan Deed of Trust.

Junior Lender has the meaning provided in the first paragraph of this Agreement.

Junior Lender means Nationwide Commercial Co. and its successors and assigns in its capacity as the maker of the Junior Loan.

Junior Lender means any Lender that receives a lower priority in the distribution rights under Section 10.2 vis-à-vis another Lender. The Class B Lenders and the Class C Lender shall be a Junior Lender vis-à-vis the Class A Lender. The Class A Lender will not be a Junior Lender.

Junior Lender shall where the context permits include their respective successors and permitted assigns and any persons deriving title under them.

Junior Lender means, collectively, First Mezzanine Lender, Second Mezzanine Lender, Third Mezzanine Lender, Fourth Mezzanine Lender, Fifth Mezzanine Lender, Sixth Mezzanine Borrower and Seventh Mezzanine Borrower, unless the context otherwise requires, in which case it shall mean either First Mezzanine Lender, Second Mezzanine Lender, Third Mezzanine Lender, Fourth Mezzanine Lender, Fifth Mezzanine Lender, Sixth Mezzanine Borrower or Seventh Mezzanine Borrower, individually. As the context requires, Junior Lenders shall have the following order of priority: (i) first, First Mezzanine Lender; (ii) second, Second Mezzanine Lender; (iii) third, Third Mezzanine Lender; (iv) fourth, Fourth Mezzanine Lender; (v) fifth, Fifth Mezzanine Lender, (vi) sixth, Sixth Mezzanine Lender and (vii) seventh, Seventh Mezzanine Lender.