Second Lender means bocm3-DSTLD-Senior Debt 2, LLC, a Utah limited liability company. “Note Maturity Date” means the third anniversary of the Closing Date of the Fourth Additional Loan. “Closing Date” means each of the Initial Closing Date, Second Closing Date and the dates First Lender made any Remaining Loans and the date or Dates Second Lender made any Additional Loans. “Lender” means First Lender and Second Senior and shall include any assignees of a Loan or a Note pursuant to the terms and conditions of Section 8.1 hereof. Section 2.1(d). The following Section 2.1(d) is hereby added: Additional Loans. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower herein set forth, Second Lender hereby agrees to make additional loans to Borrower (the “Additional Loans”, and together with the First Loan, Second Loan and Remaining Loans, the “Loans”) on the terms and conditions set forth in this Section 2.1(d). Second Lender shall make the first Additional Loan on or about March 30, 2018 in the amount of $50,000 (the “First Additional Loan”). Second Lender shall make the second Additional Loan on or about April 13, 2018 in the amount of $400,000 (the “Second Additional Loan”). Second Lender shall make the third Additional Loan on or about April 27, 2018 in the amount of $275,000 (the “Third Additional Loan”). Second Lender shall make the fourth Additional Loan on or about May 11, 2018 in the amount of $275,000 (the “Fourth Additional Loan”). Concurrent with the delivery by Second Lender of Additional Loan proceeds to the Borrower, Borrower shall execute and deliver to Second Lender a Note dated as of the date of such funding in the principal amount of such Additional Loan. (e) Section 2.3(a)(i). The following is added at the end of Section 2.3(a)(i): If a prepayment is made on or before the first anniversary of the Closing Date of the Fourth Additional Loan, such prepayment shall include a prepayment fee equal to the greater of (A) all interest that would have been
Second Lender s Debt" means the aggregate principal amount of all monies obligations and liabilities whether actual or contingent due owing or incurred by the Borrower to the Second Lender together with all interest thereon commission fees and other charges and all legal and other costs charges and expenses incurred by the Second Lender in relation to the Borrower on a full indemnity basis;
Second Lender s Security" means any or all collateral additional or substituted securities which the Second Lender may now have or may hereafter obtain from the Borrower in respect of the Second Lender's Debt or any part thereof;
Examples of Second Lender in a sentence
Second, Lender complained that the bankruptcy court misapplied one of the plan-confirmation requirements.
This Agreement shall be binding upon and shall inure to the benefit of the First Lender, the Second Lender and their respective successors and assigns.
Second, Lender argues that the liens on the ownership interest in the now-Reorganized Debtors could be reinstated.
The Second Lender hereby agrees that, within five (5) business days after request by the First Lender, the Second Lender shall do, execute, acknowledge and deliver all and every such further acts, deeds, conveyances and instruments, in recordable form, as the First Lender may reasonably request for the better assuring and evidencing of the foregoing subordinations and agreements.
Second Lender has executed this Agreement effective as of the date set forth in the first paragraph hereof.
More Definitions of Second Lender
Second Lender means the maker of the Second Encumbrance, and shall include, initially, the State of California, and its successor and assigns.
Second Lender means Fleet National Bank, as agent for the City of Boston acting by and through its Public Facilities Commission by the Director of the Public Facilities Department ("PFD") in its capacity as maker of the Second Loan.
Second Lender means MPHC as maker of the Second Loan. "Second Loan" means the unsecured nonrecourse loan made to the Seller by the Second Lender with respect to the Apartment Complex, in the original principal amount of $648,902; the Second Loan will be assumed by the Partnership at the Initial Closing; the outstanding balance of the Second Loan as of the Initial Closing is expected to be $648,902. The Second Loan (i) is evidenced by a certain promissory note dated as of May 9, 1996; (ii) bears interest at six and fifty-one one-hundredths per cent (6.51%) per annum; and (iii) is to mature on April 30, 2026. Payments on account of principal of and interest on the Second Loan are to be made as a first priority from Net Cash Flow pursuant to Section 11.01 herein. The entire outstanding balance of principal of and interest on the Second Loan shall be due and payable upon maturity of the Second Loan. "Seller" means Madison Park IV Associates, a Massachusetts limited partnership, which owns an interest in the Apartment Complex, which interest will be conveyed to the Partnership at the Initial Closing. "State" means the Commonwealth of Massachusetts. "State Designation" means, with respect to the Apartment Complex, the allocation by the Agency of Low-Income Housing Tax Credits, as evidenced by the receipt by the Partnership of an IRS Form 8609 executed by the Agency as to each of the buildings constituting the Apartment Complex. "Subordinated Loan" means any loan made by the General Part- ner to the Partnership pursuant to Section 8.16. "Substantial Completion" means the date upon which all of the following have occurred: (i) the rehabilitation of the Apartment Complex has been completed as evidenced by the Partnership's receipt of the certification of the inspecting architect as to the satisfactory substantial completion of all rehabilitation and construction work as to the Apartment Complex, and by the receipt by BCTC 94 of a certification as to such satisfactory substantial completion of rehabilitation from the reviewing architect retained by BCTC 94; (ii) the Partnership shall have received an updated owner's title insurance policy (or endorsement thereto) satisfactory to BCTC 94; (iii) BCTC 94 shall have received evidence satisfactory to it that all amounts payable to the construction manager and all subcontractors have been paid in full (other than agreed-upon retainage amounts payable at the Final Closing), and that the Partnership is not in violation of the constructio...
Second Lender means Xxxxx Xxxxxx Housing Trust Fund in its capacity as second mortgagee and maker of the Second Mortgage Loan, or its successors and assigns in such capacity, including any substitute Lenders permitted pursuant to Section 9.02(b)(v) hereof, each action, through any authorized representative.
Second Lender means the City of Los Angeles Housing Department in its capacity as second mortgagee and maker of the Second Mortgage Loan from CDBG Earthquake funds, or its successors and assigns in such capacity, including any Substitute Lenders permitted pursuant to Section 8.02 (b)(v) hereof, through any authorized representative .
Second Lender has the meaning given to it in the preamble;
Second Lender means Starwood Financial Trust or another commercial lender providing permanent second mortgage financing for the Building from time to time.