Last Dollar. So long as the balance of the Obligations exceeds the portion of the Obligations secured by this Mortgage, no payment on account of the Obligations shall be deemed to be applied against or to reduce the portion of the Obligations secured by this Mortgage, but shall, instead, be deemed to be applied against only such portions of the Obligations that are not secured by this Mortgage.
Appears in 4 contracts
Sources: Subordinate Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Lakes Entertainment Inc)