Examples of Junior Liens in a sentence
Notwithstanding the foregoing, subject to Section 3.05, the Junior Lien Collateral Agent may, but will have no obligation to, on behalf of the Junior Lien Secured Parties, take all such actions (not adverse to the First Liens or the rights of the First Lien Collateral Agent and the First Lien Secured Parties) it deems necessary to perfect or continue the perfection of the Junior Liens in the Collateral or to create, preserve or protect (but not enforce) the Junior Liens in the Collateral.
In furtherance of the foregoing, the parties hereto agree, subject to the other provisions of this Agreement, that the Security Documents creating or evidencing the Priority Liens and the Junior Liens, will be in all material respects the same forms of documents other than as is necessary or appropriate to reflect the first lien and second lien nature of the Obligations thereunder.
Without limiting the provisions of Paragraph 2, the Junior Liens are, and shall be, expressly subject and subordinate in all respects to the Senior Liens that secure any and all advances made at any time or from time to time on or with respect to the Project Debt Obligations, whenever made, including any and all of such advances, interest, charges, fees and expenses that may increase the indebtedness evidenced and secured by the Loan Documents.
Any and all Junior Liens shall be junior and subordinate in all respects to any and all Senior Liens.
The business of the Joint Venture shall be as follows: This Joint venture is formed for the purpose of partnering to buy and sell a single or multiple property(s) located at the following address(s) (see attached addenda a for additional address, if any) The Joint Venture may also take back or hold Junior Liens on property it sells.