Common use of Application of Payments and Proceeds Upon Default Clause in Contracts

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender for any deficiency. If Lender, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Obligations. Bank shall determine in its sole discretion. Any pay any surplus shall be paid to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Holder may apply any funds in its possession, whether from Borrower Maker account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Holder shall determine in its sole discretion. Any surplus shall be paid to Borrower Maker or other Persons legally entitled thereto; Borrower Maker shall remain liable to Lender Holder for any deficiency. If LenderHolder, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Holder shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Holder of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; : Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender . Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower Borrowers or other Persons legally entitled thereto; Borrower Borrowers shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender HSBC may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender HSBC shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender HSBC for any deficiency. If LenderHSBC, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender HSBC shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender HSBC of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower by credit to the Designated Deposit Account or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of CollateralCollateral upon the occurrence of and during the continuation of an Event of Default, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized realised as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgmentjudgement, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at on any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Obligations. Bank shall determine in its sole discretion. Any pay any surplus shall be paid to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgmentfaith, directly or indirectly indirectly, enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender for any deficiency. If Lender, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender either Holder may apply any funds in its possession, whether from Borrower Maker account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Holders together shall determine in its sole discretiondetermine. Any surplus shall be paid to Borrower Maker or other Persons legally entitled thereto; Borrower Maker shall remain liable to Lender Holders for any deficiency. If Lendereither Holder, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender such Holder shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Holders of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Co-Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower Co-Borrowers or other Persons legally entitled thereto; Borrower Co-Borrowers shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender may apply any funds in its possession, whether from Borrower any Loan Party’s account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower thereto and each Loan Party shall remain liable to Lender for any deficiency. If Lender, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgmentjudgement, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at on any sale of Collateral, Lender shall Bankshall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuingcontinuing beyond any applicable cure period, Lender may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender for any deficiency. If Lender, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any Bank shall pay any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or to other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such the order as Lender shall determine specified in its sole discretionSection 2.5(c). Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank and to any Secured Swap Provider for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender the Agent may apply any funds in its possession, whether from Borrower Borrowers account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender the Agent shall determine in its sole discretion. Any surplus shall be paid to Borrower Borrowers or other Persons legally entitled thereto; Borrower Borrowers shall remain liable to Lender the Agent for any deficiency. If Lenderthe Agent, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender the Agent shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender the Agent of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event Pursuant to the terms of Default has occurred and is continuingSection 6.3(c), Lender may Bank shall have the right to apply in any order any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender . Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. , Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.

Application of Payments and Proceeds Upon Default. If an Event of Default has occurred and is continuing, Lender Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Lender Bank shall determine in its sole discretion. , Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Lender Bank for any deficiency. If LenderBank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Lender Bank shall have the option, exercisable at any time, of either reducing the Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Lender Bank of cash therefor.