No Cross-Collateralization. For avoidance of doubt, and notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document, and other than Lender’s lien on the Collateral, the Loan, and the Obligations hereunder and under any of the other Loan Documents are not secured or cross-collateralized by any other properties, interests or assets whatsoever of the Borrower or any Affiliate of Borrower. In addition, and for avoidance of doubt, (a) the prior Inventory Loan was previously paid in full and any prior cross-collateralization between the Loan and Inventory Loan, as reflected in the Second A&R Loan Agreement, was eliminated contemporaneously therewith and (b) the acquisition loan advanced by Lender to certain Affiliates of Borrower to acquire the Eilan Hotel & Spa is not cross-collateralized with the Loan.
Appears in 2 contracts
Sources: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (Bluegreen Vacations Corp)