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Priority Interest Sample Clauses

Priority Interest. If the Additional Contributing Partners elect to treat the payment of an Additional Contribution as a contribution for which the Additional Contributing Partners receive a Priority Interest, then the following shall apply: (i) Each Additional Contributing Partner shall receive a Priority Interest in the distributions from the Partnership that would otherwise be due and payable to the Non-Contributing Partner(s). The Priority Interest received by each Additional Contributing Partner shall be in the proportion that the amount of the Additional Contribution paid by such Additional Contributing Partner bears to the amount of the Additional Contributions made by all Additional Contributing Partners (each Additional Contributing Partner’s percentage share of the Priority Interests shall be its “Priority Interest Sharing Ratio”). All distributions from the Partnership that would otherwise be due and payable to the Non-Contributing Partner(s) instead shall be paid to the Additional Contributing Partners in accordance with their respective Priority Interest Sharing Ratio and no distribution shall be made from the Partnership to any Non-Contributing Partner until all Priority Interests have terminated. The Priority Interest shall terminate with respect to an Additional Contributing Partner when that Additional Contributing Partner has received either through the distributions it receives in respect of its Priority Interest or through payment(s) to it by the Non-Contributing Partner(s) (which payment(s) may be made by the Non-Contributing Partner(s) at any time) of an amount equal to the Additional Contribution made by such Additional Contributing Partner, plus a return thereon of twelve percent (12%) per annum (compounded quarterly on the outstanding balance). For purposes of making this calculation, all amounts received by an Additional Contributing Partner shall be deemed to be applied first against a return on, and then to the amount of, the Additional Contribution. For purposes of maintaining Capital Accounts, any amount paid by a Non-Contributing Partner to a Contributing Partner to reduce and/or terminate a Priority Interest shall be treated as though such amount were contributed by the Non-Contributing Partner to the Partnership and thereafter distributed by the Partnership to the Contributing Partner with respect to its Priority Interest. (ii) The Priority Interests shall not alter the Percentage Interests, nor shall the Priority Interests alter any distribu...
Priority Interest. (A) Confirm the contract contains language regarding the creation of an enforceable security interest. (B) Confirm that a Certificate of Title lists the Depositor as primary lienholder or that an application for a Certificate of Title has been filed in the applicable state listing the Depositor as primary lienholder. (C) Confirm that the Obligor’s name, or an acceptable variation thereof, on the contract matches the name on the title documents. (D) Confirm that the Vehicle Identification Number (VIN) on the contract matches the VIN on the title documents. (E) Confirm the Receivable is listed on the Schedule of Receivables.
Priority Interest. No person or entity other than Lender has (or, in the case of after-acquired Collateral, will have, at the time Borrower acquires rights therein) any interest in the Collateral, including any Lien on the Collateral, except as permitted by Section 9.
Priority InterestNo entity other than Lender has (or, in the case of after-acquired Collateral, will have, at the time Borrower acquires rights therein) any interest in the Collateral, including but not limited to any security interest or other lien or charge.
Priority Interest. A. Confirm that the Receivable contains security interest language in favor of USAA FSB in the Financed Vehicle. B. Confirm that the Title Documents report USAA FSB, or an acceptable variation of the name, as the first lien holder, or that an appropriate application has been filed in the applicable state if the certificate of title is still pending. C. Confirm that the Obligor’s name, or an acceptable variation thereof, on the Contract matches the name on the Title Documents. D. Confirm that the Vehicle Identification Number (VIN) on the Contract matches the VIN number on the Title Documents. E. Confirm that the Receivable has been assigned:
Priority Interest. (A) Confirm the contract contains language regarding the creation of an enforceable security interest. (B) Confirm that a Certificate of Title lists VCI, or an acceptable variation of its name, as primary lienholder or that an application for a Certificate of Title has been filed in the applicable state listing VCI, or an acceptable variation of its name, as primary lienholder. (C) Confirm that the Obligor’s name, or an acceptable variation thereof, on the contract matches the name on the title documents. (D) Confirm that the Vehicle Identification Number (VIN) on the contract matches the VIN on the title documents. (E) Confirm the Receivable is listed on the Schedule of Receivables.
Priority InterestThe Administrative Agent, for the benefit of itself, the Fronting Bank, the L/C Administrator and the Lenders, has a first priority (subject only to Liens of the type described in Sections 7.06(b) and (n) to the extent set forth in the applicable Control Agreement) perfected security interest in the Collateral pledged by each Borrower pursuant to its respective Security Agreement.
Priority Interest. Section 6.06(a).
Priority Interest. Borrower has good and indefeasible title to the Collateral, free and clear of liens, claims, security interests, or encumbrances, except for Permitted Liens.
Priority InterestSection 5.8 of the Agreement is amended only to add at the end of the Section "excluding Permitted Liens."