Additional Resort Collateral definition

Additional Resort Collateral means singly and collectively, the development rights, real property, fixtures and other personal property, including all management agreements for the Resorts, now owned or hereafter acquired by Borrower and described on Schedule 1.1(c) attached hereto. "Additional Resort Collateral" shall not include the promissory notes and other property of Silverleaf Finance I, Inc., that constitute "Pledged Assets" under the DZ Documents.

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Additional Resort Collateral shall not include the promissory notes and other property of Silverleaf Finance I, Inc., that constitute "Pledged Assets" under the DZ Documents OR THE PROMISSORY NOTES AND OTHER PROPERTY OF SILVERLEAF FINANCE II, INC. THAT CONSTITUTE "CONVEYED ASSETS" OR COLLATERAL UNDER THE SILVERLEAF FINANCE II DOCUMENTS."

Additional Resort Collateral means singly and collectively, the development rights, real property, fixtures and other

Examples of Additional Resort Collateral in a sentence

No portion of the Additional Resort Collateral constituting real property has been taken in condemnation or other like proceedings nor is any proceeding pending, threatened or known to be contemplated for the partial or the total condemnation or taking of any portion of such land.
The Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Lender as provided herein, and, with respect to the Land, the Additional Resort Collateral, the Silverleaf Finance I.
No person or entity has an option to purchase any portion of the Additional Resort Collateral, or any portion thereof, or any interest therein.
The portion of the Additional Resort Collateral constituting real property has adequate legal rights of access to a public way.
Title Searches for each real property comprising the Additional Resort Collateral and each real property comprising the Land, together with legible copies of each exception or matter noted thereon.
Except as is disclosed in the surveys of the portion of the Additional Resort Collateral constituting real property that have been or will be provided to Lender, no portion of such land is located in a flood hazard area as defined by the Federal Insurance Administration.
The Additional Resort Collateral Mortgages and modifications to the Land Mortgages shall have been duly recorded in the applicable land records for each state in which the Land and the Additional Resort Collateral is located.
Subject to the other first lien rights of Heller and Sovereign as provided in the Intercreditor Agreement, upon ▇▇▇▇▇tion and delivery of the Additional Resort Collateral Assignments and execution and recording of the Additional Resort Collateral Mortgages, Lender will have a valid first lien in the Additional Resort Collateral.
Borrower has paid or will have paid in full, prior to delinquency, all ad valorem taxes and other assessments against that portion of the Additional Resort Collateral constituting real property and against the Land, and Borrower knows of no basis for any additional taxes or assessments against the Land or other such real property.
In the event of any insured loss or claim in respect of the Resort or any real property comprising the Additional Resort Collateral, Borrower shall apply (or cause to be applied), and Borrower covenants that the Timeshare Owners' Association shall apply (or cause to be applied), all proceeds of such insurance policies in a manner consistent with the Timeshare Documents and the Timeshare Act.

More Definitions of Additional Resort Collateral

Additional Resort Collateral means singly and collectively, the development rights, real property, fixtures and other personal property, including all management agreements for the Resorts, now owned or hereafter acquired by Borrower and described on Schedule 1.1(c). "Additional Resort Collateral" shall not include the promissory notes and other property of Silverleaf Finance I, Inc., that constitute "Pledged Assets" under the DZ Documents or the promissory notes and other property of Silverleaf Finance II, Inc. that constitute "conveyed assets" or collateral under the Silverleaf Finance II Documents.

Additional Resort Collateral means the real and personal property, now or hereafter acquired by Borrower and listed on SCHEDULE 7(f). For the avoidance of doubt, "Additional Resort Collateral" shall not include the promissory notes and other property of Silverleaf Finance I, Inc. that constitutes "Pledged Assets" under the DZ Documents. AMENDED AND RESTATED REVOLVING PROMISSORY NOTE. The Amended and Restated Revolving Promissory Note (Inventory Loan) evidencing the Inventory Loan in the principal amount of $10,000,000 executed and delivered by Borrower to Lender on the date hereof and any substitution or replacement therefor.