Priority Interest. If the Additional Contributing Partners elect to treat the payment of an Additional Contribution as a contribution for which the Additional Contributing Partners receive a Priority Interest, then the following shall apply:
Priority Interest. (A) Confirm the contract contains language regarding the creation of an enforceable security interest.
Priority Interest. No person or entity other than Lender has (or, in the case of after-acquired Collateral, will have, at the time such Credit Party acquires rights therein) any interest in the Collateral, including any Lien on the Collateral, except as permitted by Section 9.
Priority Interest. Except for the Subordinating Creditor, no entity other than Lender has (or, in the case of after-acquired Collateral, will have, at the time Borrower acquires rights therein) any interest in the Collateral, including but not limited to any security interest or other lien or charge.
Priority Interest. A. Confirm that the Receivable contains security interest language in favor of USAA FSB in the Financed Vehicle.
Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Bank, the L/C Administrator and the Lenders, has a first priority (subject only to Liens of the type described in Sections 7.06(b) and (n) to the extent set forth in the applicable Control Agreement) perfected security interest in the Collateral pledged by each Borrower pursuant to its respective Security Agreement.
Priority Interest. Permit the Fully Contributing Members to make Additional Capital Contributions Pro Rata (or in such other portions as they may unanimously agree) in the amount of the Deficiency (“Priority Capital Contributions”) and to treat such Priority Capital Contributions as a contribution on behalf of the Non-Fully Contributing Member, with the following result:
Priority Interest. With respect to each period during which a Priority Interest is outstanding, each Priority Member shall be allocated items of gross income and gain in an amount equal to the amount paid to such Priority Member in respect of its Priority Interest pursuant to Section 5.3(b)(iii)(B)(2)(y) until such Priority Member has been allocated a cumulative amount of gross income or gain equal to the distributions received by the Priority Member in excess of the Priority Member’s contribution on behalf of a Non-Fully Contributing Member.
Priority Interest. Section 6.06(a).
Priority Interest. (a) An Additional Contribution Member that has not elected to treat its Additional Contribution as a permanent Series Capital Contribution pursuant to Section 6.07 may elect (or be deemed to have elected) to receive a right to distributions (as further defined in this Section 6.06, a “Priority Interest”).
