Common use of Intercreditor Arrangement Clause in Contracts

Intercreditor Arrangement. The parties hereto acknowledge and ------------------------- agree, for the benefit of the Lender under the Credit Facility, that, during the Credit Facility Period, the exercise of the rights and remedies of the Trustee hereunder are subject to the terms of the Intercreditor Agreement. In the event of any inconsistency between the terms hereof and the Intercreditor Agreement, the Intercreditor Agreement shall control.

Appears in 2 contracts

Samples: Pledge Agreement (Majestic Star Casino LLC), Pledge Agreement (Majestic Star Casino LLC)

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Intercreditor Arrangement. The parties hereto acknowledge and ------------------------- agree, for the benefit of the Lender lenders under the Credit Facility, that, during any period that obligations or commitments are outstanding under the Credit Facility PeriodFacility, the exercise of the rights and remedies of the Trustee hereunder are or will be subject to the terms of the Intercreditor Agreement. In the event of any inconsistency between the terms hereof and the Intercreditor Agreement, the Intercreditor Agreement shall control.

Appears in 1 contract

Samples: Trademark Security Agreement (Majestic Star Casino LLC)

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Intercreditor Arrangement. The parties hereto ------------------------- acknowledge and ------------------------- agree, for the benefit of the Lender under the Credit Facility, that, during any period that obligations or commitments are outstanding under the Credit Facility PeriodFacility, the exercise of the rights and remedies of the Trustee hereunder are or will be subject to the terms of the Intercreditor Agreement. In the event of any inconsistency between the terms hereof and the Intercreditor Agreement, the Intercreditor Agreement shall control.

Appears in 1 contract

Samples: Security Agreement (Majestic Star Casino LLC)

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