Intercreditor Terms. As between the Lenders, any distribution under paragraph 5 shall be made proportionately based upon the remaining principal amount (plus accrued and unpaid interest) to each as to the total amount then owed to the Lenders as a whole. The rights of each Lender hereunder are pari passu to the rights of the other Lenders hereunder. Any recovery hereunder shall be shared ratably among the Lenders according to the then remaining principal amount owed to each (plus accrued and unpaid interest) as to the total amount then owed to the Lenders as a whole. [THIS SPACE INTENTIONALLY LEFT BLANK]
Appears in 3 contracts
Samples: Security Agreement (Addison Davis Diagnostics), Security Agreement (Addison Davis Diagnostics), Security Agreement (Savoy Resources Corp)
Intercreditor Terms. As between the Lenders, any distribution under paragraph 5 shall be made proportionately based upon the remaining principal amount (plus accrued and unpaid interest) to each as to the total amount then owed to the Lenders as a whole. The rights of each Lender hereunder are pari passu PARI PASSU to the rights of the other Lenders hereunder. Any recovery hereunder shall be shared ratably among the Lenders according to the then remaining principal amount owed to each (plus accrued and unpaid interest) as to the total amount then owed to the Lenders as a whole. [THIS SPACE INTENTIONALLY LEFT BLANK].
Appears in 1 contract
