Bank Priority. In the event of the bankruptcy of, or the appointment of a trustee, receiver or other representative or liquidator for any of the property of Borrower, or in the event Borrower shall become the subject of any proceeding of any character under any federal or state bankruptcy or insolvency act or law, all moneys and other property allocated or allocable to the Subordinate Debts shall be paid and delivered directly to the Bank for application by the Bank to the Bank Note, in such order as the Bank shall elect, until full payment of the Bank Note with the excess, if any, to be paid to County.
Bank Priority. It is agreed and understood that the terms, conditions, provisions, liens and security interests set forth or granted in the Bank Loan Documents are and shall continue to be secured by the Facility with priority over those set forth or granted herein, in the Facility Loan Documents or in the Equipment Loan Documents, as applicable. In the event of any conflict or inconsistency between the terms and provisions of the Bank Loan Documents, this Lease or the Facility Loan Documents, the terms and provisions of the Bank Loan Documents shall control and prevail. (END OF ARTICLE IV)
