Common use of Lien Subordination Clause in Contracts

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ or claim of Holder on any assets or property of Guarantor or any proceeds or revenues therefrom which Holder may have at any time as security for any Subordinated Debt shall be, and hereby is, subordinated to all liens, security interests, or encumbrances now or hereafter granted to Senior Creditors by Guarantor or by law, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until Senior Creditors have received payment in full of the Senior Debt and the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder agrees that Holder will not assert or seek to enforce against Guarantor the Subordinated Debt or any interest of Holder in any collateral for the Subordinated Debt and that Senior Creditors may dispose of any or all of the collateral for the Senior Debt free of any and an liens, including but not limited to liens created in favor of Holder, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten (10) days written notice to Holder. Holder hereby acknowledges that such notice if given ten (10) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all security interest granted to Holder provided the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditor's request, Holder shall execute and deliver any releases or other documents and agreements that such Senior Creditor in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holder's interest in same. Holder retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lienLien, security interest, encumbrance, ------------------ charge ------------------ or claim of Holder the Manager on any assets or property of Guarantor the Company or any proceeds or revenues therefrom which Holder the Manager may have at any time as security for any Subordinated Debt Management Fees shall be, and hereby is, subordinated to all liensLiens, security interests, or encumbrances now or hereafter granted to Senior Creditors the Trustee by Guarantor the Company or by law, notwithstanding the date or order of attachment or perfection of any such lienLien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until all holders of Senior Creditors Debt have received payment in full in cash of the Senior Debt, or the Senior Debt is satisfied and discharged or defeased under the Guaranteed Obligations (as defined in Indenture, the Guaranty) and the Guaranty has terminated, Holder Manager agrees that Holder the Manager will not assert or seek to enforce against Guarantor the Subordinated Debt Company the Management Fees or any interest of Holder the Manager in any collateral for any portion of the Subordinated Debt Management Fees and that Senior Creditors the Trustee may dispose of any or all of the collateral for the Senior Debt free of any and an liensall Liens, including including, but not limited to liens to, Liens created in favor of Holderthe Manager, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten five (105) days written notice to Holderthe Manager. Holder The Manager hereby acknowledges that such notice if given ten five (105) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder The Manager hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full in cash all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all any security interest granted to Holder the Manager; provided that the entire -------- proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditorthe Trustee's request, Holder the Manager shall execute and deliver any releases or other documents and agreements that such Senior Creditor the Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holderthe Manager's interest in same. Holder The Manager retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ or claim of Holder on any assets or property of Guarantor or any proceeds or revenues therefrom which Holder may have at any time as security for any Subordinated Debt shall be, and hereby is, subordinated to all liens, security interests, or encumbrances now or hereafter granted to Senior Creditors by Guarantor or by law, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until Senior Creditors have received payment in full of the Senior Debt and the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder agrees that Holder will not assert or seek to enforce against Guarantor the Subordinated Debt or any interest of Holder in any collateral for the Subordinated Debt and that Senior Creditors may dispose of any or all of the collateral for the Senior Debt free of any and an liens, including but not limited to liens created in favor of Holder, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten (10) days written notice to Holder. Holder hereby acknowledges that such notice if given ten (10) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all security interest granted to Holder provided the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditor's request, Holder shall execute and deliver any releases or other documents and agreements that such Senior Creditor in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holder's interest in same. Holder retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lienLien, security interest, encumbrance, charge ------------------ or claim of Holder the Manager on any assets or property of Guarantor the Company or any proceeds or revenues therefrom which Holder the Manager may have at any time as security for any Subordinated Debt Obligations shall be, and hereby is, subordinated to all liensLiens, security interests, or encumbrances now or hereafter granted to Senior Creditors the Trustee by Guarantor the Company or by law, notwithstanding the date or order of attachment or perfection of any such lienLien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until all holders of Senior Creditors Debt have received payment in full in cash of the Senior Debt and Debt, the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder Manager agrees that Holder the Manager will not assert or seek to enforce against Guarantor the Company the Subordinated Debt Obligations or any interest of Holder the Manager in any collateral for any portion of the Subordinated Debt Obligations and that Senior Creditors the Trustee may dispose of any or all of the collateral for the Senior Debt free of any and an liensall Liens, including including, but not limited to liens to, Liens created in favor of Holderthe Manager, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten five (105) days written notice to Holderthe Manager. Holder The Manager hereby acknowledges that such notice if given ten five (105) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder The Manager hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full in cash all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all any security interest granted to Holder the Manager; provided that the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditorthe Trustee's request, Holder the Manager shall execute and deliver any releases or other documents and agreements that such Senior Creditor the Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holderthe Manager's interest in same. Holder The Manager retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ or claim Lien of Holder Lender on any assets or property of Guarantor Borrower or any proceeds or revenues therefrom which Holder Lender may have at any time as security for any Subordinated Debt amounts due and obligations under this Note shall be, and hereby is, subordinated be subordinate to all liens, security interests, or encumbrances Liens now or hereafter granted to a holder of Senior Creditors Indebtedness by Guarantor Borrower or by law, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge Lien or the provision provisions of any applicable law. Until Senior Creditors have received payment in full in cash of the all of Borrower's Senior Debt and the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminatedIndebtedness, Holder Lender agrees that Holder will not assert or seek to enforce against Guarantor the Subordinated Debt or any interest a holder of Holder in any collateral for the Subordinated Debt and that Senior Creditors Indebtedness may dispose of any or all of the collateral for the Senior Debt Indebtedness held by such holder free and clear of any and an liens, including but not limited to liens created all Liens in favor of Holder, through judicial or non-judicial proceedings, Lender in accordance with applicable law including taking title, title to such collateral after ten (10) days written notice to HolderLender. Holder hereby acknowledges that such notice if given ten (10) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder hereby Lender agrees that any such sale or other disposition by a holder of Senior Creditors of so much of the collateral for the Senior Debt Indebtedness as is necessary to satisfy in full full, all of the principal of, interest on and reasonable costs of collection of the Senior Debt Indebtedness shall be made free and clear of all security interest any Lien granted to Holder Lender provided the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of to reduce the Senior DebtIndebtedness. Upon any the request of a holder of Senior Creditor's requestIndebtedness, Holder Lender shall execute and deliver or cause to be executed and delivered any releases or other documents and agreements that such a holder of Senior Creditor in its reasonable discretion deems necessary Indebtedness may reasonably request to dispose of the collateral for the Senior Debt Indebtedness free of Holder's interest any Lien of Lender in same. Holder retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debtcollateral.

Lien Subordination. Any lienLien, security interest, encumbrance, ------------------ charge ------------------ or claim of Holder the Manager on any assets or property of Guarantor the Company, or any proceeds or revenues therefrom therefrom, which Holder the Manager may have at any time as security for any Subordinated Debt the Management Fees shall be, and hereby is, subordinated to all liensLiens, security interests, or encumbrances now or hereafter granted to Senior Creditors the Lessor/Trustee by Guarantor the Company or by law, notwithstanding the date or order of attachment or perfection of any such lienLien, security interest, encumbrance or encumbrance, claim or charge or the provision of any applicable law. Until Senior Creditors have received payment in full all of the Senior Debt shall have been paid in full, in cash, or the Senior Debt is satisfied and discharged or defeased under the Guaranteed Obligations (as defined in Operative Documents, the Guaranty) and the Guaranty has terminated, Holder Manager agrees that Holder the Manager will not assert or seek to enforce against Guarantor the Subordinated Debt Company the Management Fees or any interest of Holder the Manager in any collateral for any portion of the Subordinated Debt Management Fees and that Senior Creditors the Lessor/Trustee may dispose of any or all of the collateral for the Senior Debt free of any and an liensall Liens, including including, but not limited to liens to, Liens created in favor of Holderthe Manager, through judicial or non-non- judicial proceedings, in accordance with applicable law law, including taking title, after ten five (105) days written notice to Holderthe Manager. Holder The Manager hereby acknowledges that such notice notice, if given ten five (105) days prior to such disposition of any of or all of the collateral for the Senior Debt Debt, is sufficient and commercially reasonable. Holder The Manager hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full full, in cash, all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all any security interest granted to Holder the Manager; provided that the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditorthe Lessor/Trustee's request, Holder the Manager shall execute and deliver any releases or other documents and agreements that such Senior Creditor Lessor/Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holderthe Manager's interest in same. Holder retains The Manager shall retain all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ or claim of Holder the Manager on any assets or property of Guarantor the Company or any proceeds or revenues therefrom which Holder the Manager may have at any time as security for any Subordinated Debt Obligations shall be, and hereby is, subordinated to all liens, security interests, or encumbrances now or hereafter granted to Senior Creditors the Trustee by Guarantor the Company or by law, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until all holders of Senior Creditors Debt have received payment in full in cash of the Senior Debt and Debt, the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder Manager agrees that Holder the Manager will not assert or seek to enforce against Guarantor the Company the Subordinated Debt Obligations or any interest of Holder the Manager in any collateral for any portion of the Subordinated Debt Obligations and that Senior Creditors the Trustee may dispose of any or all of the collateral for the Senior Debt free of any and an all liens, including including, but not limited to to, liens created in favor of Holderthe Manager, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten five (105) days written notice to Holderthe Manager. Holder The Manager hereby acknowledges that such notice if given ten five (105) days prior to such disposition of any of or all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder The Manager hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full in cash all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all any security interest granted to Holder the Manager; provided that the entire proceeds (after deducting reasonable expenses -------- of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditorthe Trustee's request, Holder the Manager shall execute and deliver any releases or other documents and agreements that such Senior Creditor the Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holderthe Manager's interest in the same. Holder The Manager retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ or claim of Holder the Consultant on any assets or property of Guarantor the Tribe or any proceeds or revenues therefrom which Holder the Consultant may have at any time as security for any Subordinated Debt Obligations shall be, and hereby is, subordinated to all liens, security interests, or encumbrances now or hereafter granted to Senior Creditors the Trustee by Guarantor the Tribe or by lawlaw with respect to any Tax Exempt Debt, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge or the provision of any applicable law. Until Senior Creditors all holders of Tax Exempt Debt have received payment in full of in cash, if necessary, the Senior Debt and the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder Consultant agrees that Holder it will not assert or seek to enforce against Guarantor the Tribe the Subordinated Debt Obligations or any interest of Holder the Consultant in any collateral for securing the Subordinated Debt Obligations and that Senior Creditors the Trustee may dispose of any or all of the collateral for the Senior Tax Exempt Debt free of any and an all liens, including including, 7 but not limited to to, liens created in favor of Holderthe Consultant, through judicial or non-judicial proceedings, in accordance with applicable law including taking title, after ten five (105) days written notice to Holderthe Consultant. Holder The Consultant hereby acknowledges that such notice if given ten five (105) days prior to such disposition of any of all of the collateral for the Senior Tax Exempt Debt is sufficient and commercially reasonable. Holder The Consultant hereby agrees that any such sale or other disposition by Senior Creditors of so much of the collateral for the Senior Tax Exempt Debt as is necessary to satisfy in full in cash all of the principal of, interest on and reasonable costs of collection of the Senior Tax Exempt Debt shall be free and clear of all any security interest granted to Holder the Consultant; provided that the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Tax Exempt Debt. Upon any Senior Creditorthe Trustee's request, Holder the Consultant shall execute and deliver any releases or other documents and agreements that such Senior Creditor the Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Tax Exempt Debt free of Holderthe Consultant's interest in same. Holder The Consultant retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Tax Exempt Debt.

Lien Subordination. Any lien, security interest, encumbrance, charge ------------------ Lien of the Manager on or claim of Holder on in any assets or property of Guarantor the Company or any proceeds or revenues therefrom which Holder the Manager may have at any time as security for any Subordinated Debt Obligations shall be, and hereby is, subordinated to all liens, security interests, or encumbrances Liens now or hereafter granted to Senior Creditors the Trustee by Guarantor the Company or by lawavailable at law or in equity, notwithstanding the date or order of attachment or perfection of any such lien, security interest, encumbrance or claim or charge Lien or the provision of any applicable lawlaw or in equity. Until all holders of Senior Creditors Debt have received indefeasible payment in full in cash of the Senior Debt and Debt, the Guaranteed Obligations (as defined in the Guaranty) and the Guaranty has terminated, Holder Manager agrees that Holder the Manager will not assert or seek to enforce against Guarantor the Company the Subordinated Debt Obligations or any Lien or other interest of Holder the Manager in any collateral for any portion of the Subordinated Debt Obligations and that Senior Creditors the Trustee may dispose of any or all of the collateral for the Senior Debt free of any and an liensall Liens, including including, but not limited to liens to, Liens created in favor of Holderthe Manager, through judicial or non-judicial proceedings, in accordance with applicable law including law, including, without limitation, taking titletitle to any such collateral, after ten five (105) days written notice to Holderthe Manager. Holder The Manager hereby acknowledges that such notice if is given ten five (105) days prior to such disposition of any of all of the collateral for the Senior Debt is sufficient and commercially reasonable. Holder The Manager hereby agrees that any such sale or other the disposition by Senior Creditors of so much of the collateral for the Senior Debt as is necessary to satisfy in full in cash all of the principal of, interest on and reasonable costs of collection of the Senior Debt shall be free and clear of all any security interest granted to Holder the Manager in respect of the Subordinated Obligations; provided that the entire proceeds (after deducting reasonable expenses of sale) are applied in reduction of the Senior Debt. Upon any Senior Creditorthe Trustee's request, Holder the Manager shall execute and deliver any releases or other documents and agreements that such Senior Creditor the Trustee in its reasonable discretion deems necessary to dispose of the collateral for the Senior Debt free of Holderthe Manager's interest Liens or other interests in samesuch collateral in respect of the Subordinated Obligations. Holder The Manager retains all of its rights as a junior secured creditor with respect to the surplus, if any, arising from any such disposition of the collateral for the Senior Debt.