Application of Proceeds of Sale or Cash Held as Collateral. The proceeds of sale of Collateral sold pursuant to the terms of Section 6 hereof and/or, after an Event of Default, the cash held as Collateral hereunder, shall be applied by the Company, to the extent permitted by applicable law, as follows:
Appears in 6 contracts
Samples: Exempt Loan and Share Purchase Agreement (Union Community Bancorp), Exempt Loan and Share Purchase Agreement (Union Community Bancorp), Exempt Loan and Share Purchase Agreement (Union Community Bancorp)
Application of Proceeds of Sale or Cash Held as Collateral. The proceeds of sale of Collateral sold pursuant to the terms of Section 6 hereof and/or, and/or after an Event of Default, the cash held as Collateral hereunder, shall be applied by the Company, to the extent permitted by applicable law, as follows:
Appears in 2 contracts
Samples: Share Pledge Agreement (Third Century Bancorp), Share Pledge Agreement (Third Century Bancorp)
Application of Proceeds of Sale or Cash Held as Collateral. The proceeds of sale of Collateral sold pursuant to the terms of Section 6 hereof and/or, after an Event of a Default, the any cash held as Collateral hereunder, shall be applied by the CompanyPaying Agent to such of the Liabilities, and in such order of application, as the Paying Agent shall determine until the Liabilities are paid in full in cash, and the balance, if any, of such proceeds shall be paid to the extent permitted by applicable lawPledgor, its successors and assigns, or as follows:a court of competent jurisdiction may direct.
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Samples: Pledge Agreement (Quality Food Centers Inc), Pledge Agreement (Quality Food Centers Inc)
Application of Proceeds of Sale or Cash Held as Collateral. The proceeds of sale of Collateral sold pursuant to the terms of Section 6 hereof and/or, after an Event of a Default, the cash held as Collateral hereunder, shall be applied by the Company, to the extent permitted by applicable law, Collateral Agent as follows:
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