Application of Sale Proceeds. In the event of a sale of Collateral, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Collateral or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.
Appears in 4 contracts
Samples: Pledge Agreement (Furniture Com Inc), Pledge Agreement (Furniture Com Inc), Loan Agreement (Xyvision Inc)
Application of Sale Proceeds. In the event of a sale of Collateral, ---------------------------- the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Collateral or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.
Appears in 3 contracts
Samples: Pledge Agreement (Curis Inc), Security and Pledge Agreement (Lifeline Systems Inc), Security and Pledge Agreement (Lifeline Systems Inc)
Application of Sale Proceeds. In the event of a sale of the Collateral, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' broker's commissions, counsel fees, any taxes or other charges imposed by law upon the Collateral or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.
Appears in 1 contract
Samples: Aspect Medical Systems Inc
