Application of Proceeds During an Event of Default. Notwithstanding anything in the Loan Documents to the contrary, while an Event of Default exists, any cash received and retained by Lender in connection with the Collateral may be applied to payment of the Obligations in the manner provided in paragraph 7.5.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cr Resorts Capital S De R L De C V), Loan and Security Agreement (Cr Resorts Capital S De R L De C V)
Application of Proceeds During an Event of Default. Notwithstanding anything in the Loan Documents to the contrary, while an Event of Default exists, any cash received and retained by Lender in connection with the Collateral collateral securing the Loan may be applied to payment of the Obligations Borrower's obligations under the Loan Documents as Lender in the manner provided in paragraph 7.5its discretion may determine.
Appears in 2 contracts
Samples: Loan Agreement (Bluegreen Corp), Loan Agreement (Bluegreen Corp)
Application of Proceeds During an Event of Default. Notwithstanding anything in the Receivables Loan Documents to the contrary, while an Event of Default exists, any cash received and retained by Lender in connection with the Receivables Collateral may be applied to payment of the Obligations in the manner provided in paragraph 7.5.
Appears in 2 contracts
Samples: Loan Agreement (Raintree Resorts International Inc), Loan and Security Agreement (Cr Resorts Capital S De R L De C V)
Application of Proceeds During an Event of Default. Notwithstanding anything in the Acquisition Loan Documents to the contrary, but subject to Section 7.5, while an Event of Default exists, any cash received and retained by Lender in connection with the any Collateral may be applied to payment of such of the Obligations as Lender in the manner provided in paragraph 7.5.its discretion may determine.
Appears in 2 contracts
Samples: Acquisition Loan and Security Agreement (BBX Capital Corp), Acquisition Loan and Security Agreement (Bluegreen Vacations Corp)
Application of Proceeds During an Event of Default. Notwithstanding anything in the Loan Documents to the contrary, but subject to Section 7.5, while an Event of Default exists, any cash received and retained by Lender in connection with the Receivables Collateral or any other Collateral may be applied to payment of such of the Obligations as Lender in the manner provided in paragraph 7.5.its discretion may determine.
Appears in 2 contracts
Samples: Loan and Security Agreement (Bluegreen Vacations Holding Corp), Loan and Security Agreement (Bluegreen Vacations Corp)
Application of Proceeds During an Event of Default. Notwithstanding anything in the Loan Documents to the contrary, but subject to Section 7.5, while an Event of Default exists, any cash received and retained by Lender in connection with the Receivables Collateral or any other Collateral may be applied to payment of such of the Obligations as Lender in the manner provided in paragraph 7.5its discretion may determine.
Appears in 1 contract
Application of Proceeds During an Event of Default. Notwithstanding anything in the Loan Documents to the contrary, while an Event of Default exists, any cash received and retained by Lender in connection with the Collateral may be applied to payment of the Obligations Borrower's obligations under the Loan Documents as Lender in the manner provided in paragraph 7.5its discretion may determine.
Appears in 1 contract
