Security, Application of Payments. This Note is secured by the liens, encumbrances and obligations created hereby and by the other Loan Documents and the terms and provisions of the other Loan Documents are hereby incorporated herein. Payment will be applied, at Holder's option, first to any fees, expenses or other costs Maker is obligated to pay under this Note or the other Loan Documents, second to interest due on the Loan and third to the outstanding principal balance of the Loan.
Appears in 3 contracts
Samples: Construction Loan Agreement (Silverleaf Resorts Inc), Loan Agreement (Mego Financial Corp), Acquisition and Construction Loan Agreement (Mego Financial Corp)
Security, Application of Payments. This Note is secured by the liens, encumbrances and obligations created hereby and by the other Receivables Loan Documents and the terms and provisions of the other Loan Documents are hereby incorporated hereinDocuments. Payment Payments will be applied, at Holder's option, first applied to any fees, expenses or other costs Maker is obligated to pay under this Note or the other Receivables Loan Documents, second to interest due on the Loan and third to the outstanding principal balance of the Loan, in any order that Holder, at its sole option, may deem appropriate.
Appears in 3 contracts
Samples: Loan Agreement (Mego Financial Corp), Acquisition and Construction Loan Agreement (Mego Financial Corp), Loan and Security Agreement (Mego Financial Corp)
Security, Application of Payments. This Note is secured by the liens, encumbrances and obligations created hereby and by the other Loan Documents and the terms and provisions of the other Loan Documents are hereby incorporated hereinDocuments. Payment Payments will be applied, at Holder's option, first applied to any fees, expenses or other costs Maker is Makers are obligated to pay under this Note or the other Loan Documents, second to interest due on the Loan and third to the outstanding principal balance of the Loan, in any order that Holder, at its sole option, may deem appropriate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Bluegreen Corp), Loan and Security Agreement (Bluegreen Corp)
Security, Application of Payments. This Note is secured by the liens, encumbrances and obligations created hereby and by the other Loan Documents and the terms and provisions of the other Loan Documents are hereby incorporated herein. Payment Payments will be applied, at Holder's option, first to any fees, expenses or other costs Maker is obligated to pay under this Note or the other Loan Documents, second to interest due on the Loan and third to the outstanding principal balance of the Loan.
Appears in 2 contracts
Samples: Loan Agreement (Transeastern Properties Inc), Loan and Security Agreement (Mego Financial Corp)
