First Lien. Subject to the other first lien rights of Heller and Sovereign as provided in the Intercreditor Agreement, upon xxxxxtion and delivery of the Additional Resort Collateral Assignments and execution and recording of the Additional Resort Collateral Mortgages, Lender will have a valid first lien in the Additional Resort Collateral.
Appears in 4 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
First Lien. Subject to the other first lien rights of Heller and Sovereign as provided in the Intercreditor Agreement, upon xxxxxtion execution and delivery of the Additional Resort Collateral Assignments and execution and recording of the Additional Resort Collateral Mortgages, Lender will have a valid first lien in the Additional Resort Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
