Application of Sales Proceeds. Notwithstanding the extinguishment of the lien and security interest created herein, the Customer hereby expressly authorizes ABCSI to apply in accordance with law the proceeds of any sale of securities contemplated in paragraph 9(a) hereof, in full or partial satisfaction as the case may be, of the Customer’s obligations under the Margin Facility.
Application of Sales Proceeds. Notwithstanding the extinguishment of the lien and security interest created herein, the Client hereby expressly authorizes COL and/or the Executing Broker to apply the proceeds of any sale of securities contemplated in Section 5.6 (Trading Rules), in full or partial satisfaction as the case may be, of the Client’s obligations under the Margin line.
Application of Sales Proceeds. The proceeds of any sale under this Deed of Trust will be applied in the following manner: FIRST: Payment of the costs and expenses of the sale, including but not limited to the Trustee’s fees, legal fees and disbursements, title charges and transfer taxes, and payment of all expenses, liabilities and advances of the Trustee, together with interest on all advances made by the Trustee at the maximum rate permitted to be charged by the Trustee under applicable law. SECOND: Payment of all sums expended by the Beneficiary under the terms of this Deed of Trust and not yet repaid, together with interest on such sums at the rate set forth in the Note payable after maturity thereof. THIRD: Payment of the indebtedness and obligations of the Trustor secured by this Deed of Trust in any order that the Beneficiary chooses.
Application of Sales Proceeds. The proceeds of the sale(s) of the Collateral under Section 3.2 above will be applied as follows:
a. First, to the payment of all costs and expenses incurred by the Co-Signers under this Agreement, including all costs and expenses of collection, whether or not a suit has been filed, including, but not limited to, all sales commissions, brokers’ fees and attorneys’ fees;
b. Second, to the satisfaction of the Secured Obligations;
c. Third, to the payment of any other amounts required by applicable law; and
d. Fourth, any balance then remaining will be paid to Southwest, unless it is the subject of tax lien or levy, attachment, restraining order, injunction or other such distraint.
Application of Sales Proceeds. The sales proceeds from the Disposal would be applied as general working capital of the Group.
Application of Sales Proceeds. Unless otherwise provided by law or the Subordination Agreement, the purchase money, proceeds or avails of any sale made under or by virtue of this Article III, together with all other sums which then may be held by Trustee or Beneficiary under this Deed of Trust, whether under the provisions of this Article III, or otherwise, shall, after payment of the costs and expenses of the proceedings, including any sale pursuant to Section 3.04, resulting in the collection of such moneys and of the expenses, liabilities and advances incurred or made by Trustee, be applied as provided in the Agreement.
Application of Sales Proceeds. After deducting all legal and other costs, expenses and charges, including attorneys’ fees incurred in the collection, sale, delivery or preservation of the Collateral, or any part thereof, Pledge Holder shall apply the residue of the proceeds of any such sale to the payment of the Indebtedness. Should there be any surplus of said proceeds after the payment of the Indebtedness, together with the expenses, attorneys’ fees and all charges and costs incurred by Pledge Holder in the keeping, delivery and preservation of the Collateral, such surplus shall be paid to the Guarantor.
Application of Sales Proceeds. Lender may apply the amounts paid to it by reason of sale of any of the Collateral as described herein first against fees, costs, advances and late charges, if any, that are outstanding pursuant to any of the Loan Documents; then against outstanding unpaid interest, and then against the principal balance hereof.
Application of Sales Proceeds. Notwithstanding the extinguishment of the lien and security interest created herein, the Client hereby expressly authorizes COL to apply in accordance with law the proceeds of any sale of securities contemplated in paragraph 7 hereof, in full or partial satisfaction as the case may be, of the Client’s obligations under the Margin Line.
Application of Sales Proceeds. Except as otherwise expressly provided herein, any Release Price, or portion thereof, released by Senior Lender to Borrower in accordance with the terms of the Senior Loan Agreement prior to the first anniversary date of the Note will be offered to Lender as a prepayment of the Loan. Lender, in its sole discretion, will determine whether to accept and apply such released proceeds to the Loan or to reject such offered proceeds. Lender will make such determination within five (5) days of offer. Section 4.5 of this Loan Agreement addresses Net Sales proceeds released by Senior Lender on and after the first anniversary date of the Note. With respect to any Release Price received by Lender in accordance with the preceding paragraph, (i) Lender may elect in its sole discretion to apply Release Price proceeds (to the extent payable to Lender) first to payment of accrued interest (but shall never be obligated to do so, even if doing so would cure a default in the payment of interest) and (ii) if an Event of Default exists, Lender may apply all amounts received to the indebtedness under the Loan Documents in such order as Lender may elect in its sole discretion.
