Common use of Proportionate Interest in any Collateral Clause in Contracts

Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Lenders, shall hold in accordance with the Loan Documents all items of any collateral or interests therein hereafter received or held by the Administrative Agent. Subject to the Administrative Agent's and the Lenders' rights to reimbursement for their costs and expenses hereunder (INCLUDING attorneys' fees and disbursements and other professional services and the allocated costs of attorneys employed by the Administrative Agent or a Lender), each Lender shall have an interest in the Lenders' interest in any collateral or interests therein in the same proportions that the aggregate Obligations owed such Lender under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Lenders, without priority or preference among the Lenders.

Appears in 3 contracts

Samples: Credit Agreement (Harrahs Entertainment Inc), Day Loan Agreement (Harrahs Entertainment Inc), Day Loan Agreement (Harrahs Entertainment Inc)

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Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the LendersCreditors, shall hold in accordance with the Loan Documents all items of any collateral or interests therein hereafter received or held by the Administrative Agent. Subject to the Administrative Agent's and the Lenders' rights right to reimbursement for their its costs and expenses hereunder (INCLUDING reasonable attorneys' fees and disbursements and other professional services and the reasonably allocated costs of attorneys employed by the Administrative Agent or a LenderAgent) and subject to the application of payments in accordance with Section 9.2(d), each Lender shall have an interest in the Lenders' interest in any collateral Collateral or interests therein in the same proportions that the aggregate Obligations owed such Lender under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Lenders, without priority or preference among the Lenders.

Appears in 2 contracts

Samples: Loan Agreement (Wheeling Land Development Corp), Loan Agreement (Wdra Food Service Inc)

Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Lenders, shall hold in accordance with the Loan Documents all items of any collateral or interests therein hereafter received or held by the Administrative Agent. Subject to the Administrative Agent's and the Lenders' rights to reimbursement for their costs and expenses hereunder (INCLUDING including attorneys' fees and disbursements and other professional services and the allocated costs of attorneys employed by the Administrative Agent or a Lender), each Lender shall have an interest in the Lenders' interest in any collateral or interests therein in the same proportions that the aggregate Obligations owed such Lender under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Lenders, without priority or preference among the Lenders.

Appears in 2 contracts

Samples: Five Year Loan Agreement (Harrahs Entertainment Inc), Assignment Agreement (Harrahs Entertainment Inc)

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Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the LendersCreditors, shall hold in accordance with the Loan Documents all items of any collateral or interests therein hereafter received or held by the Administrative Agent. Subject to the Administrative Agent's and the Lenders' rights ’s right to reimbursement for their its costs and expenses hereunder (INCLUDING including reasonable attorneys' ’ fees and disbursements and other professional services and the reasonably allocated costs of attorneys employed by the Administrative Agent or a LenderAgent) and subject to the application of payments in accordance with Section 9.2(d), each Lender shall have an interest in the Lenders' interest in any collateral Collateral or interests therein in the same proportions that the aggregate Obligations owed such Lender under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Lenders, without priority or preference among the Lenders.

Appears in 1 contract

Samples: Loan Agreement (Wheeling Island Gaming Inc)

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