Joint Collateral Sample Clauses
Joint Collateral. The Lien and security interest of each of the AgStar Security Agreement and the NMF Security Agreement (hereinafter the “Consolidated Security Agreements”) are hereby consolidated to constitute a single first priority Lien or security interest on or in the Joint Collateral which shall equally and ratably secure all holders from time to time of the Parity Indebtedness in proportion to the amount owed to each as either principal or interest, with the same force and effect as if AgStar and NMF held a single Lien on and security interest in the Joint Collateral to secure all Parity Indebtedness. The consolidated Lien and security interest shall be deemed to contain and be subject to all of the terms and conditions set forth in the AgStar Security Agreement and the NMF Security Agreement. To the extent consistent with this Agreement, inconsistent terms as between such agreements shall be controlled first by the AgStar Security Agreement and then by the NMF Security Agreement. The County and the Trustee shall hold a subordinate Lien or security interest on or in the Joint Collateral.
Joint Collateral. All amounts received in respect of any of the Joint Collateral shall be applied ratably to payment of the Senior Debt in that proportion which the unpaid principal amount of, and accrued interest then due and owing on, the AgStar Plant Loan, on the date of such application, bears to the unpaid principal amount of, and accrued interest then due and owing on the NMF Loan on the date of such application. All amounts received in respect of any of the Joint Collateral in excess of the amount necessary to effect payment in full of the Senior Debt and the Subordinate Debt shall be remitted to the Company. The County and the Trustee agree that such amounts shall be divided between them in proportion to the then outstanding principal amounts of the Abatement Bond Debt and the SW Facility Bond Debt.
Joint Collateral. The gondola located at the Heavenly Ski Area in South Lake Tahoe, California, and all personal and fixture property of every kind attached to or a part of such gondola, including but not limited to spare parts, tools and other property used to operate, maintain and repair such gondola, and all proceeds and products thereof.