Application of Payments Following Default. Following the occurrence and during the continuance of an Event of Default, Lender shall apply any and all payments received by Lender in respect of the Obligations, and any and all proceeds of Collateral received by Lender, in such order as Lender may from time to time elect.
Appears in 4 contracts
Samples: Credit and Security Agreement (ALKALINE WATER Co INC), Credit and Security Agreement (TRANS LUX Corp), Credit and Security Agreement (Hooper Holmes Inc)
Application of Payments Following Default. Following the occurrence and during the continuance of an Event of Default, Lender shall may, notwithstanding Section 9.2, apply any and all payments received by Lender in respect of the Obligations, and any and all proceeds of Collateral received by Lender, in such order as Lender may from time to time elect.
Appears in 2 contracts
Samples: Credit and Security Agreement (Vickers Vantage Corp. I), Credit and Security Agreement (Fuse Medical, Inc.)
Application of Payments Following Default. Following the occurrence and during the continuance of an Event of Default, Lender shall may, notwithstanding Section 9.2, apply any and all payments received by Lender in respect of the Obligations, and any and all proceeds of Collateral received by LenderXxxxxx, in such order as Lender may from time to time elect.
Appears in 1 contract
