Application of Proceeds after Event of Default. After the occurrence of an Event of Default, all Collateral in the form of cash, all income on the Collateral and all proceeds from any sale or other disposition of the Collateral pursuant hereto shall be applied against the Obligations in such order as the Bank shall in its sole discretion determine. Any amounts remaining after such applications shall be remitted to the Borrower or as a court of competent jurisdiction may otherwise direct.
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Samples: Revolving Line of Credit Agreement (WFS Financial Inc), Revolving Line of Credit Agreement (Westcorp /Ca/), Revolving Line of Credit Agreement (WFS Financial Inc)
Application of Proceeds after Event of Default. After the occurrence of an Event of Default, all Collateral in the form of cash, all income on the Collateral and all proceeds from any sale or other disposition of the Collateral pursuant hereto shall be applied against the Obligations in such order as the Bank Westcorp shall in its sole discretion determine. Any amounts remaining after such applications shall be remitted to the Borrower or as a court of competent jurisdiction may otherwise direct.
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