Second Priority Collateral

Second Priority Collateral. The right, title, and interest of Borrower in all of Borrower's Notes Receivable and Intervals pledged to Sovereign as Primary Secured Lender, and (ii) a second priority continuing security interest and lien in and to the right, title, and interest of Borrower in all of Borrower's Notes Receivable and Intervals pledged to Textron as Primary Secured Lender, and all proceeds, profits, extensions, additions, improvements, betterments, renewals, substitutions and replacements of the foregoing