Application if a Default or an Event of Default Exists. If a Default or an Event of Default has occurred and is continuing, all amounts which constitute Collateral shall be paid over to the Collateral Agent for application in the manner provided in Section 7 in respect of proceeds and avails of the Collateral.
Appears in 2 contracts
Samples: Security Agreement, Pledge and Indenture of Trust (World Acceptance Corp), Security Agreement, Pledge and Indenture of Trust (World Acceptance Corp)
Application if a Default or an Event of Default Exists. If a Default or an Event of Default has occurred and is continuing, all amounts which constitute Collateral shall be paid over to the Collateral Agent Security Trustee for application in the manner provided in Section §7 in respect of proceeds and avails of the Collateral.
Appears in 2 contracts
Samples: Security Agreement (World Acceptance Corp), Security Agreement (World Acceptance Corp)
Application if a Default or an Event of Default Exists. If a Default or an Event of Default has occurred and is continuing, all amounts which constitute Collateral shall be paid over to the Collateral Agent for application in the manner provided in Section §7 in respect of proceeds and avails of the Collateral.
Appears in 2 contracts
Samples: Security Agreement (World Acceptance Corp), Security Agreement (World Acceptance Corp)
