Proceeds of Tax Claim. In the event that the proceeds of any tax claim are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a prompt manner be released to the Grantor.
Appears in 4 contracts
Samples: And Attornment Agreement (Jacobs Entertainment Inc), Security Agreement (Jacobs Entertainment Inc), Disturbance and Attornment Agreement (Jacobs Entertainment Inc)
Proceeds of Tax Claim. In the event that the proceeds of any tax claim are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a reasonably prompt manner be released to the Grantor.
Appears in 3 contracts
Samples: Purchase Agreement (Terremark Worldwide Inc), Credit Agreement (Norcraft Companies Lp), Credit Agreement (Ionics Inc)
Proceeds of Tax Claim. In the event that the proceeds of any tax claim are paid after the Beneficiary has exercised its right to foreclose the Lien lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a reasonably prompt manner be released to the GrantorTrustor.
Appears in 1 contract
Samples: Security Agreement and Fixture Filing (Great Wolf Lodge of Grapevine, LLC)
Proceeds of Tax Claim. In the event that the proceeds --------------------- of any tax claim to which the Grantors are entitled are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a prompt manner be released to the GrantorIssuer.
Appears in 1 contract
Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)
Proceeds of Tax Claim. In the event that the proceeds of any tax claim to which the Grantors are entitled are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a prompt manner be released to the GrantorBorrower.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Jalou Cashs LLC)
Proceeds of Tax Claim. In the event that the proceeds of any tax claim are paid after the Beneficiary has exercised its right to foreclose the Lien hereof, such proceeds shall be paid to the Beneficiary to satisfy any deficiency remaining after such foreclosure. The Beneficiary shall retain its interest in the proceeds of any tax claim during any redemption period. The amount of any such proceeds in excess of any deficiency claim of the Beneficiary shall in a reasonably prompt manner be released to the GrantorTrustor.
Appears in 1 contract
Samples: Security Agreement (Gsi Group Inc)
