Common use of Proportionate Interest in any Collateral Clause in Contracts

Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Banks, shall hold in accordance with the Loan Documents all items of any collateral or interests therein received or held by the Administrative Agent. Subject to the Administrative Agent's and the Banks' 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 Bank) and subject to the application of payments in accordance with Section 9.2(d), each Bank shall have an interest in the Banks' interest in any collateral or interests therein in the same proportions that the aggregate Obligations owed such Bank under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Banks, without priority or preference among the Banks. 10.4

Appears in 2 contracts

Samples: Loan Agreement (Circus Circus Enterprises Inc), Loan Agreement (Circus Circus Enterprises Inc)

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Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Banks, shall hold in accordance with the Loan Documents all items of any collateral or interests inter ests therein received or held by the Administrative Agent. Subject to the Administrative Agent's and the Banks' rights to reimbursement for their costs and expenses hereunder (including attorneys' fees and disbursements disburse ments and other professional services and the allocated costs of attorneys employed by the Administrative Agent or a Bank) and subject to the application of payments in accordance with Section Sec tion 9.2(d), each Bank shall have an interest in the Banks' interest in any collateral or interests therein in the same proportions that the aggregate Obligations owed such Bank under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Banks, without priority or preference among the Banks. 10.4.

Appears in 1 contract

Samples: Revolving Loan Agreement (Del Webb Corp)

Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Banks, shall hold in accordance with the Loan Documents all items of any collateral or interests therein received or held by the Administrative Agent. Subject to the Administrative Agent's and the Banks' 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 Bank) and subject to the application of payments in accordance with Section 9.2(d9.2( d), each Bank shall have an interest in the Banks' interest in any collateral or interests therein in the same proportions that the aggregate Obligations owed such Bank under the Loan Documents bear to the aggregate Obligations owed under the Loan Documents to all the Banks, without priority or preference among the Banks. 10.4.

Appears in 1 contract

Samples: Revolving Loan Agreement (Del Webb Corp)

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Proportionate Interest in any Collateral. The Administrative Agent, on behalf of all the Banks, Agent shall hold in accordance with the Loan Documents all any items of any collateral or interests therein received or held by the Administrative AgentAgent on behalf of all the Banks in accordance with the Loan Documents. Subject to the Administrative Agent's Agents' and the Banks' rights to reimbursement for their 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 Agents or a Bank) and subject to the application of payments in accordance with Section 9.2(d), each Bank shall have an interest in the Banks' interest in any such collateral or interests therein in the same proportions proportion that the aggregate Obligations owed such Bank under the Loan Documents bear bears to the aggregate Obligations owed under the Loan Documents to all the Banks, without priority or preference among the Banks. 10.4.

Appears in 1 contract

Samples: Loan Agreement (Mirage Resorts Inc)

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