Examples of Senior Debt in a sentence
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).
The payment and performance of the Junior Debt is hereby subordinated to the payment and performance of the Senior Debt in accordance with this Agreement.
Xxxxxx Xxxxxx hereby consents and agrees to any agreement or arrangement, in which Senior Lender waives, postpones, extends, reduces, or modifies any provisions of the documents related to the Senior Debt, including any provision requiring the payment of money.
Notwithstanding the foregoing, the lien of this County Deed of Trust shall be subordinate to the lien of the Senior Debt (as defined in the Loan Agreement) (the "Senior Trust"), which Senior Trust is to be recorded and filed for record in the land records of Arlington County, Virginia either prior to or after the recordation of this County Deed of Trust, and shall have this County Deed of Trust and other documents relating to the CHDO-HOME Loan subordinated to the Senior Trust.
Grantor will punctually pay, perform, observe and keep all covenants, obligations and conditions in or pursuant to any Permitted Encumbrance and will not modify or permit modification of any Permitted Encumbrance without the prior written consent of Holder, other than the documents related to the Senior Debt (as defined in the Loan Agreement).