Application of Collateral; Application of Liquidation Proceeds. If an Event of Default shall occur and be continuing, the Lender, with or without proceeding with sale or foreclosure or demanding payment of the Obligations, shall, without notice, at any time, appropriate and apply to the Obligations all monies received with respect to any and all Collateral of the Borrowers in the possession of the Lender as follows:
Appears in 7 contracts
Samples: Loan and Security Agreement (Peak Resorts Inc), Option Agreement (Peak Resorts Inc), Master Credit and Security Agreement (Peak Resorts Inc)