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<br />hereof) junior to it, such amoun~. shall be payable only if,
<br />as and when the Agent or Quakar receives paymenL. on ultimate
<br />distribution of such Assets. The Senior Qbligations shall ~
<br />not include any additional principal amounts advanced by the
<br />Banks sUbsequent to Or.tober 31, 1986 unless the.p&uceeds of
<br />'. , such principal advance are dellvared to Ouaker in payment of .
<br />. the principal amounts owinCJ to Ouaker u~der"t~~..~ubordinated "":::""
<br />Debt. .'..,il, l':,' '<'i'~."r',., ,...":1.":.:'" ,".
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<br />Cc) So long 8. the continqencies with r~spect to the
<br />Contingency Note have not occurred and as'a result then no'
<br />amount is owing undor the Contingency Note at the, time the ...
<br />Agent or Quaker proceeds with respect to the Assets pursuant ' ,
<br />to Paragraph I Cb) above, then no part of the proceeds. of "., :" I."
<br />Assets shall be applicable or payable on acco~~t of the Con- ,:" I. :,'
<br />tingency Note. In the event amounta are owing':~~der the \.1 i . i
<br />Contingency Note at thp. time Agent or Ouaker'proceeds with' "<' "
<br />respect to the Assut~ pursuant to Paragraph ICb) above, then "
<br />the Cont ingency Not.. Eohall be considered as a part of the ','/ 'I~.'. ~
<br />Subordinated Debt for the purposes of Paragraph lCb) Cii) but ; '.'
<br />shall be so considered only with respect to proceeds or amounts . :"
<br />realized in connection with the Contingency Note Property
<br />Chereinafter defined) and Assets loc~ted on the Contingency
<br />Note Property, provided, however. that if at the time con- .,'
<br />templated by Paragraph ICb). or at any other time during the
<br />term of this Agreement Cafter such amopnts are owing under ..."
<br />the ~ontingency Note), Borrower Cor Agent if Agent is the
<br />owner of the Contingency Note Property) tenders,' and Quaker
<br />accepts. the prop~rty Cthe .Contingency Note Property") covered
<br />by thdt <<:ertaili Deed of Trust and Security Agreement of even ,
<br />date herewith Cthe .Contingency Note Deed of Trust.) given .:"':'r..~1 lt~
<br />by. Borrower to Clark G., Thompson, Jr., Trustee,' for the benefit . "J
<br />of Quaker to secure the Contingency Note, in payment of the ", w. .,~~
<br />Contingency ~ote as sot'forth in the Purchase and Sale Agree- .~'f ~~,
<br />ment referred to above, then Ouaker shall have the right to '....'.;'I'li!.,(
<br />obtain from Agent. on behal f of Banks. a release of all of -:N'~ . ',. .
<br />Agent's liens with respect to the Contingency Note Property,.', ,.
<br />Cor to obtain the Contingency Note Property outright if Agent t.. oj ,
<br />is the owner thereof at such times. free and clear of all, . :;,.,..'.,
<br />liens and ,encumbrances ,other than those existing on the d~te 'L~~~i~,
<br />hereof or cq,nsented to by Ouaker) in return for the payment . ...~ ," ..~ . .
<br />to Aqent of an ;J:nnunt equal to the Senior Obljgacions. and '. '. '"
<br />the obligations under the Contingency Note shall be discharged. ",
<br />,~..:..__ ____!!' _t:..~I!..e_v:~nt o~a~~.J;...m'!lc.!.s_._!!\lC:;h..,pa,ymen.t.....Quakei:.:'.~hai.1._be.._____.~ ._.
<br />, , subroqated to the r1ghts of Agent under the<Obl,~gacions, "
<br />except that Quaker sh~ll not exercise these su~~gation ,rights
<br />until all of the obligations of Borru~er ta Age~~~~ behalf
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