Common use of AMBIGUITY OR CONFLICT Clause in Contracts

AMBIGUITY OR CONFLICT. In the event of an ambiguity or conflict of terms between any of the provisions of the Notes, this Agreement and any other Loan Document, the terms of this Agreement shall be deemed to amend and control all of the other agreements; and, to the extent that any of the agreements are silent, each shall supplement the others; provided, however, in the event of any conflict between the terms of this Agreement, the Notes and any other Loan Document and any of them, the terms which, in Agent’s reasonable discretion, grant Agent or any Lender the greater protection with respect to the prospect of payment of the Notes, or in any other manner are of greater benefit to Agent or such Lender, shall control. All other provisions of contemporaneous or previous agreements and understandings between Borrower, Agent, and Lender relating to the commitment of Agent and Lender and the Notes in conflict with any expressed provision hereof shall be merged into this Agreement and be extinguished and of no further force and effect.

Appears in 2 contracts

Sources: Credit Agreement (Avatar Holdings Inc), Credit Agreement (Avatar Holdings Inc)