Examples of Senior Obligations in a sentence
All Junior Obligations are hereby expressly subordinated to the extent and in the manner hereinafter set forth to the payment in full of the Senior Obligations.
The Senior Lender shall have no obligation to the Junior Lender with respect to the Mortgaged Property or the Senior Obligations.
Until all of the Senior Obligations have been paid in full, the Junior Lender shall not demand, receive or accept (i) a pledge of any of the Mortgaged Property as security for the Junior Obligations, or (ii) except for the Ground Lease, Declaration of Trust/Restrictive Covenants, Regulatory and Operating Agreement and other permitted encumbrances set forth in the Senior Lender’s title policy, a grant of any security interest or any other lien, right or interest in any of the Mortgaged Property.