Common use of Subordination and Intercreditor Agreement Clause in Contracts

Subordination and Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender, NT Senior Lender and Subordinate Lender are executing a subordination and intercreditor agreement (“Subordination and Intercreditor Agreement”) prescribed by GSSIF Senior Lender pursuant to which: (a) Subordinate Lender fully subordinates its rights, claims and liens in respect of the Subordinate Loan to the rights, claims and liens of GSSIF Senior Lender in respect of the GSSIF Senior Loan; (b) Subordinate Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason and (c) Subordinate Lender agrees that any collections by or for the accounts of Borrower of any Pay-for-Success Payments that are available in the Designated Accounts for application to the debt service obligations of Borrower to GSSIF Senior Lender, NT Senior Lender or Subordinate Lender will be applied, and GSSIF Senior Lender will be authorized to cause such amounts to be applied, strictly in the order and priority set forth in Exhibit A. Senior Lender Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender and NT Senior Lender are executing a Senior Lender Intercreditor Agreement (as defined below) prescribed by GSSIF Senior Lender pursuant to which: (a) NT Senior Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason and

Subordination and Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender, NT Senior Lender and Subordinate Lender are executing a subordination and intercreditor agreement (“Subordination and Intercreditor Agreement”) prescribed by GSSIF Senior Lender pursuant to which: (a) Subordinate Lender fully subordinates its rights, claims and liens in respect of the Subordinate Loan to the rights, claims and liens of GSSIF Senior Lender in respect of the GSSIF Senior Loan; (b) Subordinate Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason and (c) Subordinate Lender Xxxxxx agrees that any collections by or for the accounts of Borrower of any Pay-for-Success Payments that are available in the Designated Accounts for application to the debt service obligations of Borrower to GSSIF Senior Lender, NT Senior Lender or Subordinate Lender will be applied, and GSSIF Senior Lender will be authorized to cause such amounts to be applied, strictly in the order and priority set forth in Exhibit A. Senior Lender Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender and NT Senior Lender are executing a Senior Lender Intercreditor Agreement (as defined below) prescribed by GSSIF Senior Lender pursuant to which: (a) NT Senior Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason and

Subordination and Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender, NT Senior Lender and Subordinate Lender are executing a subordination and intercreditor agreement (“Subordination and Intercreditor Agreement”) prescribed by GSSIF Senior Lender pursuant to which: (a) Subordinate Lender fully subordinates its rights, claims and liens in respect of the Subordinate Loan to the rights, claims and liens of GSSIF Senior Lender in respect of the GSSIF Senior Loan; (b) Subordinate Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason and (c) Subordinate Lender agrees that any collections by or for the accounts of Borrower of any Pay-for-Success Payments that are available in the Designated Accounts for application to the debt service obligations of Borrower to GSSIF Senior Lender, NT Senior Lender or Subordinate Lender will be applied, and GSSIF Senior Lender will be authorized to cause such amounts to be applied, strictly in the order and priority set forth in Exhibit A. Senior Lender Intercreditor Agreement. Simultaneously herewith, GSSIF Senior Lender and NT Senior Lender are executing a Senior Lender Intercreditor Agreement (as defined below) prescribed by GSSIF Senior Lender pursuant to which: (a) NT Senior Lender appoints GSSIF Senior Lender as the collateral agent under the Deposit Account Control Agreement with full authority to exercise any and all remedies thereunder or to decline to do so for any reason andand (b) NT Senior Lender agrees that any collections by or for the accounts of Borrower of any Pay-for-Success Payments that are available in the Designated Accounts for application to the debt service obligations of Borrower to GSSIF Senior Lender or NT Senior Lender will be applied, and GSSIF Senior Lender will be authorized to cause such amounts to be applied, strictly in the order and priority set forth in Exhibit A.