Common use of Continuing Lien Priority Clause in Contracts

Continuing Lien Priority. The Borrower heretofore executed and delivered to the Administrative Agent and the Lenders the Loan Documents. The Borrower hereby acknowledges and agrees that the Liens created and provided for by the Loan Documents continue to secure, among other things, the Obligations arising under the Loan Agreement; and the Loan Documents and the rights and remedies of the Administrative Agent and Lenders thereunder, the obligations of the Borrower thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby. Nothing herein contained shall in any manner affect or impair the priority of the Liens and security interests created and provided for by the Loan Documents as to the indebtedness which would be secured thereby prior to giving effect to this Limited Duration Waiver.

Appears in 2 contracts

Samples: Tropicana Las Vegas Hotel & Casino, Inc., Tropicana Las Vegas Hotel & Casino, Inc.

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Continuing Lien Priority. The Borrower heretofore executed and delivered to the Administrative Agent and the Lenders the Loan Documents. The Borrower hereby acknowledges and agrees that the Liens created and provided for by the Loan Documents continue to secure, among other things, the Obligations arising under the Loan AgreementAgreement as amended hereby; and the Loan Documents and the rights and remedies of the Administrative Agent and Lenders thereunder, the obligations of the Borrower thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby. Nothing herein contained shall in any manner affect or impair the priority of the Liens and security interests created and provided for by the Loan Documents as to the indebtedness which would be secured thereby prior to giving effect to this Limited Duration Amendment and Waiver.

Appears in 2 contracts

Samples: Loan Agreement And (Tropicana Las Vegas Hotel & Casino, Inc.), Loan Agreement and Limited (Tropicana Las Vegas Hotel & Casino, Inc.)

Continuing Lien Priority. The Borrower Grantor heretofore executed and delivered to the Administrative Agent and the Lenders the Loan Documents. The Borrower Grantor hereby acknowledges and agrees that the Liens created and provided for by the Loan Documents continue to secure, among other things, the Obligations arising under the Loan Agreement; and the Loan Documents and the rights and remedies of the Administrative Agent and Lenders thereunder, the obligations of the Borrower Grantor thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby. Nothing herein contained shall in any manner affect or impair the priority of the Liens and security interests created and provided for by the Loan Documents as to the indebtedness which would be secured thereby prior to giving effect to this Limited Duration WaiverAmendment.

Appears in 1 contract

Samples: Trademark Security Agreement (Tropicana Las Vegas Hotel & Casino, Inc.)

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Continuing Lien Priority. The Borrower heretofore executed and delivered to the Administrative Agent and the Lenders the Loan Documents. The Borrower hereby acknowledges and agrees that the Liens created and provided for by the Loan Documents continue to secure, among other things, the Obligations arising under the Loan AgreementAgreement as amended hereby; and the Loan Documents and the rights and remedies of the Administrative Agent and Lenders thereunder, the obligations of the Borrower thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby. Nothing herein contained shall in any manner affect or impair the priority of the Liens and security interests created and provided for by the Loan Documents as to the indebtedness which would be secured thereby prior to giving effect to this Limited Duration WaiverAmendment.

Appears in 1 contract

Samples: Loan Agreement (Tropicana Las Vegas Hotel & Casino, Inc.)

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