ADDITIONAL CREDITOR Clause Samples
ADDITIONAL CREDITOR. Additional Creditors may, upon compliance with the relevant provisions of the Note Agreement, the Credit Agreement and any outstanding Additional Facility, become “Secured Parties” hereunder by executing and delivering to the Collateral Agent and to each of the then existing Secured Parties (a) a joinder agreement in the form attached hereto as Exhibit C and (b) a copy of the Additional Facility or Additional Facilities to which such Person is a party. Accordingly, upon the execution and delivery of any such copy of this Agreement by any such Person, such Person, shall, upon delivery thereof to the then existing Secured Parties, thereafter become a Secured Party for all purposes of this Agreement.
ADDITIONAL CREDITOR. The right to receive payment of the purchase price under this Agreement belongs to TRENDWEST RESORTS, INC., but could be assigned to another creditor.
ADDITIONAL CREDITOR. Additional Persons may become “Additional Creditors” hereunder, provided that each such Person shall sign an acknowledgment in the form of Exhibit A attached hereto, by which each such Person agrees to be bound by the terms of the Agreement and each such Person shall deliver to each of the then existing Creditors (a) a copy of such acknowledgment so executed and (b) a copy of the agreement or documents pursuant to which such Person has become a Creditor of the Borrower and a Subsidiary Guarantor. Accordingly, upon the execution of such acknowledgment, and the delivery of any such copy of such acknowledgment and the other agreements and documents described in clause (b) above, by any such Person to then existing Creditors, such Person shall thereinafter become a Creditor for all purposes of this Agreement. Notwithstanding the prior existence or the priority of any security interest held by any Creditor on the date hereof or arising hereunder, the rights and interest of the Creditors in Subject Payments shall be subject to this Agreement and shall be shared as set forth herein.
ADDITIONAL CREDITOR. The right to receive payment of the Purchase Price under this Agreement belongs to Developer but could be assigned to another creditor.