Shared Collateral. (i) other goods and personal property, whether tangible or intangible, now owned or hereafter acquired by such Obligor and such Partnership Obligor or in which such Obligor and such Partnership Obligor now has or hereafter acquires any rights and wherever located;
Shared Collateral. (1) The Notes are secured, together with all other Parity Secured Debt of the Company, equally and ratably by security interests granted to the Collateral Trustee in all of the assets of the Company; and
Shared Collateral. Notwithstanding anything to the contrary contained in the New Note Security Documents or the TransTexas Note Security Documents, Shared Collateral in the possession of the Collateral Agent pursuant to this Agreement, in the possession of TEC or the TEC Note Trustee pursuant to any of the New Note Security Documents, or in the possession of the TransTexas Note Trustee pursuant to any of the TransTexas Note Security Documents shall, pursuant to Section 9-305 of the Uniform Commercial Code as in effect in the State of New York, be held by such party in possession for its own account to the extent of its interest therein, and as pledgeholder and bailee for each of the other Secured Creditors, so that each of the Secured Creditors shall be deemed to have possession of such Shared Collateral. Each Secured Creditor is authorized and directed by the Issuer to deliver to the Collateral Agent for the benefit of the Secured Creditors pursuant to this Agreement any Shared Collateral now or hereafter in the possession of such Secured Creditor, and none of such Shared Collateral shall be released or distributed to the Issuer without the prior written consent of the TEC Note Trustee, on behalf of the Junior Secured Creditor, and the TransTexas Note Trustee, on behalf of the Senior Secured Creditors.
Shared Collateral. The Company will provide, and will cause certain subsidiaries to provide, collateral interests in substantially all their personal property in which the collateral interests may be perfected by the filing of Uniform Commercial Code financing statements and in certain capital stock or other equity interests in certain subsidiaries (the “Shared Collateral” which term shall, for the avoidance of doubt, include all collateral in which the Collateral Agent now or in the future has a lien pursuant to the Collateral Documents, except that such term will not include the capital stock of PAS unless the inclusion of such capital stock is consented to in writing by the Administrative Agent (or, if there is no Administrative Agent, the Majority Banks)) as security for (i) the Bank Debt, (ii) the Other Guaranty Shared Collateral Debt, and (iii) obligations under those interest rate protection, foreign currency exchange agreements and similar agreements with lenders under the Bank Credit Agreement or with their affiliates identified on Schedule 2.1(b) or with the written approval of the Administrative Agent (or if there is no Administrative Agent, the Majority Banks) (collectively, as more particularly described in the Collateral Documents, the “Shared Collateral Secured Obligations”). In each case, the liens and security interests in the Shared Collateral will be given as common shared liens and interests in favor of the Collateral Agent and shall rank pari passu for the ratable benefit of the holders of the Shared Collateral Secured Obligations. Notwithstanding anything contained herein or in any other agreement to the contrary, including but not limited to the Bank Credit Agreement and the Collateral Documents, the Credit Balance Account shall not be deemed Shared Collateral.
Shared Collateral. Any Shared Collateral Proceeds received by the Intercreditor Agent shall, except to the extent otherwise required pursuant to the REA, be retained by the Intercreditor Agent in an account maintained by the Intercreditor Agent for the benefit of the Secured Parties and (i) shall be used to complete the Phase 1A Addition pursuant to funding mechanics reasonably acceptable to the Bank Agent or (ii), if received after Phase 1A Completion, shall be applied to repayment of the Obligations of the Secured Lenders in the order of priority of their respective Liens on the Collateral in accordance with SECTION 2.1 hereof, subject to their respective Facilities. Notwithstanding the foregoing, all rents and other proceeds received by the Intercreditor Agent prior to Phase 1A Completion in respect of Space Leases (as defined in the Bank Deed of Trust) shall be applied (i) first to make Protective Advances, (ii) second, to pay interest due and payable under the Bank Credit Agreement and (iii) third, to complete the Phase 1A Addition pursuant to funding mechanics reasonably acceptable the Bank Agent.
Shared Collateral. 33 4.6 Requirements Regarding Exercise of Remedies........................ 33 4.6.1 Prior to Mall Release Date.................................. 33 4.6.2 Remedies After Mall Release Date............................ 34 4.7 Exercise of Rights Under Security Agreements....................... 35 4.7.1 Related Collateral Agreements by Intercreditor Agent........ 35 4.7.2 Separate Realization........................................ 36 4.7.3 Foreclosure of Deeds of Trust............................... 38 4.8 Allocation of Shared Collateral Proceeds........................... 38 4.9 Other Duties of and Actions by Intercreditor Agent................. 40
Shared Collateral. With respect to the Shared Collateral, (a) the respective priorities of the liens and security interests securing the Obligations to the Secured Lenders shall be as provided for in Section 2.1 above, and (b) the respective rights of the Secured Credit Parties shall be as provided for in the Disbursement Agreement, the Borrower Security Agreement, the Shared Account Agreements and this Agreement, including the provisions for certain allocation of Shared Collateral Proceeds pursuant to Section 4.8 hereof. With respect to the Shared Collateral, if the Secured Credit Parties are entitled to Exercise Remedies with respect thereto prior to the Mall Release Date, in accordance with Sections 4.6.1 and Section 4.7.1 of this Agreement, then any Shared Collateral Proceeds shall be allocated between the Hotel/Casino and the Mall pursuant to Section 4.8, and upon such allocation, (i) such Shared Collateral allocated to the Mall shall be deemed to become Mall Collateral, with the lien priorities in such Mall Collateral as provided for in Section 2.1 above (i.e., with first lien priority to secure the Interim Mall Secured Obligations, second lien priority to secure the Bank Secured Obligations, and third lien priority to secure the Mortgage Notes Secured Obligations), and (ii) such Shared Collateral so allocated to the Hotel/Casino shall be deemed to become Hotel/Casino Collateral, with the lien priorities in such Hotel/Casino Collateral provided for in Section 2.1 (i.e., with first lien priority to secure the Bank Secured Obligations and second lien priority to secure the Mortgage Notes Secured Obligations). Upon the Mall Release Date, except to the extent of any then pending allocation of Shared Collateral Proceeds pursuant to Section 4.8 by reason of a right of Interim Mall Lender to Exercise Remedies against any Shared Collateral prior to the Mall Release Date, all Shared Collateral shall be and become Hotel/Casino Collateral for all purposes of this Agreement, with the lien priorities in such Hotel/Casino Collateral provided for in Section 2.1 (i.e., with first lien priority to secure the Bank Secured Obligations and second lien priority to secure the Mortgage Notes Secured Obligations).
Shared Collateral. With respect to the Shared Collateral:
Shared Collateral. If (a) Borrower receives signed written commitments for New Financing of at least $7,500,000 by December 31, 2011, (b) Borrower closes on that New Financing and receives the cash proceeds thereof by March 31, 2012, and (c) the New Financing is in the form of debt, Bank agrees that Borrower may grant the lenders of that New Financing (“New Secured Creditors”) a Lien on the Collateral that (x) may be senior in priority to Bank’s Lien as to Borrower’s machinery and equipment, the Surplus Cash and the Collateral described in Schedule 4.5, (y) may be equal in priority as to Bank’s Lien on the Intellectual Property Collateral, and (z) shall be junior in priority to Bank’s Lien on all other Collateral. Bank agrees to enter into agreements with the New Secured Creditors that will carry out the purposes of this Section and are otherwise in form and substance reasonably satisfactory to Bank. For avoidance of doubt, Borrower understands and agrees that any intercreditor agreement to be entered into with any New Secured Creditor shall contain a provision whereby such New Secured Creditor acknowledges that, upon the Bank’s exercise of its remedies as a secured party, cash proceeds from the collection, sale or other disposition of the Collateral that is subject to a senior lien in favor of Bank (including the Minimum Cash) shall be applied first to satisfy the Obligations before any Surplus Cash is applied to satisfy the obligations of any such New Secured Creditor.
Shared Collateral. Notwithstanding anything to the contrary contained in this Agreement, subject to the Intercreditor Agreement, the delivery of, or grant of “control” with respect to, any and all Collateral (other than the Parkdale JV Interests Collateral) to the ABL Agent (as defined in the Intercreditor Agreement) shall constitute compliance with the delivery or grant of control requirements of this Agreement and shall not constitute a breach or violation of the terms of this Agreement or the other Loan Documents.
