Common use of PROTECTION OF BANK'S RIGHTS IN SUBORDINATED LIABILITIES Clause in Contracts

PROTECTION OF BANK'S RIGHTS IN SUBORDINATED LIABILITIES. In the event that the Subordinate Lender receives any payment or other distribution of any kind or character from any Obligor or any other source whatsoever in respect of any of the Subordinated Liabilities, other than as expressly permitted by the terms of this Agreement, such payment or other distribution shall be received in trust for the Bank and promptly turned over by the Subordinate Lender to the Bank. The Subordinate Lender will xxxx its books and records, and cause the Obligors to xxxx their books and records, so as to clearly indicate that the Subordinated Liabilities are subordinated in accordance with the terms of this Agreement, and will cause to be clearly inserted in any promissory note or other instrument which at any time evidences any of the Subordinated Liabilities a statement to the effect that the payment thereof is subordinated in accordance with the terms of this Agreement. The Subordinate Lender will execute such further documents and instruments and take such further action as the Bank may from time to time reasonably request to carry out the intent of this Agreement. The Subordinate Lender hereby irrevocably appoints the Bank its attorney in fact, said appointment being coupled with an interest, to execute such further documents and instruments and take such further action on behalf of the Subordinate Lender as the Bank may from time to time deem reasonable to carry out the intent of this Agreement, including, without limitation, the actions set forth in paragraph B.4. hereof.

PROTECTION OF BANK'S RIGHTS IN SUBORDINATED LIABILITIES. In the event that the Subordinate Lender receives any payment or other distribution of any kind or character from any Obligor or any other source whatsoever in respect of any of the Subordinated Liabilities, other than as expressly permitted by the terms of this Agreement, such payment or other distribution shall be received in trust for the Bank and promptly turned over by the Subordinate Lender to the Bank. The Subordinate Lender will xxxx its books and records, and cause the Obligors to xxxx their books and records, so as to clearly indicate that the Subordinated Liabilities are subordinated in accordance with the terms of this Agreement, and will cause to be clearly inserted in any promissory note or other instrument which at any time evidences any of the Subordinated Liabilities a statement to the effect that the payment thereof is subordinated in accordance with the terms of this Agreement. The Subordinate Lender will execute such further documents and instruments and take such further action as the Bank may from time to time reasonably request to carry out the intent of this Agreement. The Subordinate Lender hereby irrevocably appoints the Bank its attorney in fact, said appointment being coupled with an interest, to execute such further documents and instruments and take such further action on behalf of the Subordinate Lender as the Bank may from time to time deem reasonable to carry out the intent of this Agreementagreement, including, without limitation, the actions set forth in paragraph B.4. hereof.

PROTECTION OF BANK'S RIGHTS IN SUBORDINATED LIABILITIES. In the event that the Subordinate Lender receives any payment or other distribution of any kind or character from any Obligor or any other source whatsoever in respect of any of the Subordinated Liabilities, other than as expressly permitted by the terms of this Agreement, such payment or other distribution shall be received in trust for the Bank and promptly turned over by the Subordinate Lender to the Bank. The Subordinate Lender will xxxx its books and records, and cause the Obligors to xxxx their books and records, so as to clearly indicate that the Subordinated Liabilities are subordinated in accordance with the terms of this Agreement, and will cause to be clearly inserted in any promissory note or other instrument which at any time evidences any of the Subordinated Liabilities a statement to the effect that the payment thereof is subordinated in accordance with the terms of this Agreement. The Subordinate Lender will execute such further documents and instruments and take such further action as the Bank may from time to time reasonably request to carry out the intent of this Agreement. The Subordinate Lender hereby irrevocably appoints the Bank its attorney in fact, said appointment being coupled with an interest, to execute such further documents and instruments and take such further action on behalf of the Subordinate Lender as the Bank may from time to time deem reasonable to carry out the intent of this Agreement, including, without limitation, the actions set forth in paragraph ACTIONS SET FORTH IN PARAGRAPH B.4. hereof.

PROTECTION OF BANK'S RIGHTS IN SUBORDINATED LIABILITIES. In the event that the Subordinate Lender receives any payment or other distribution of any kind or character from any Obligor or any other source whatsoever in respect of any of the Subordinated Liabilities, other than as expressly permitted by the terms of this Agreement, such payment or other distribution shall be received in trust for the Bank and promptly turned over by the Subordinate Lender to the Bank. The Subordinate Lender will xxxx its books and records, and cause the Obligors to xxxx their books and records, so as to clearly indicate that the Subordinated Liabilities are subordinated in accordance with the terms of this Agreement, and will cause to be clearly inserted in any promissory note or other instrument which at any time evidences any of the Subordinated Liabilities a statement to the effect that the payment thereof is subordinated in accordance with the terms of this Agreement. The Subordinate Lender will execute such further documents and instruments and take such further action as the Bank may from time to time reasonably request to carry out the intent of this Agreement. The Subordinate Lender hereby irrevocably appoints the Bank its attorney in fact, said appointment being coupled with an interest, to execute such further documents and instruments and take such further action on behalf of the Subordinate Lender as the Bank may from time to time deem reasonable to carry out the intent of this AgreementDEEM REASONABLE TO CARRY OUT THE INTENT OF THIS AGREEMENT, includingINCLUDING, without limitationWITHOUT LIMITATION, the actions set forth in paragraph THE ACTIONS SET FORTH IN PARAGRAPH B.4. hereof.