COLLATERAL RECOVERY Sample Clauses

COLLATERAL RECOVERY. If Seller seeks to recover payment from a collateral source, pursuant to Division 4, Part 6 (Work of Improvement) of the California Civil Code (for example, against the owner of real property on a Mechanic's Lien claim), Seller shall only be required to credit against Xxxxx’s account the net amount recovered after deducting costs and actual attorneys’ fees incurred. Furthermore, in the event that Seller is unsuccessful in its attempt to recover from a collateral source, Seller’s reasonable costs and reasonable attorneys’ fees incurred in the unsuccessful attempt shall be added to Xxxxx's account. For purposes of proceeding against a collateral source, all unpaid invoices for that Work of Improvement shall be deemed immediately due and payable.
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COLLATERAL RECOVERY. If Glasswerks seeks to recover payment from a collateral source, pursuant to Division 4, Part 6 (Work of Improvement) of the California Civil Code (for example, against the owner of real property on a Mechanic's Lien claim), Glasswerks shall only be required to credit against Xxxxx’s account the net amount recovered after deducting costs and actual attorneys’ fees incurred. Furthermore, in the event that Avalon is unsuccessful in its attempt to recover from a collateral source, Avalon costs and attorneys’ fees incurred in the unsuccessful attempt shall be chargeable to and collectible from Buyer. For purposes of proceeding against a collateral source, all unpaid invoices for purchased products by Buyer shall be deemed immediately due and payable.
Sample 1
COLLATERAL RECOVERY. If Arcadia recovers any money from a third party on a mechanic's lien, stop payment notice, payment bond, or other statutory remedy, Arcadia shall apply the recovered amount as follows: first to Arcadia’s actual attorneys’ fees incurred and paid by Arcadia in pursuing such third-party; second, to court costs; third, to service charges accrued on Buyer’s account; fourth, to the principal balance owed on the account related to the statutory claim against the third party or parties. If Arcadia tries but fails to recover all or any portion of its claim against the third-party, Arcadia’s reasonable court costs and attorneys’ fees may be added to Buyer's account if Arcadia’s failure to recover all or any portion of the amount of its claim was due in full or in part to Buyer’s failure to prove that the Products purchased from Arcadia were used on the job described on Arcadia’s unpaid invoices to Buyer or because Buyer misrepresented any material fact to Arcadia. In any mechanic’s lien, stop payment notice, payment bond, or other action based upon a statutory remedy against one or more third parties, all of Arcadia’s unpaid invoices with respect to the action shall be deemed due within 30 days of the date of delivery of the Products to Buyer.
Sample 1
COLLATERAL RECOVERY. If ABS recovers payment from a collateral source (on a mechanic s lien claim, stop notice, or similar statutory claim), ABS shall credit Buyer s account only with the net amount recovered by ABS after deduction of all costs and actual attorney’s fees (whether or not some or all of those fees are included in a Court award or in a settlement agreement). Furthermore, in the event that ABS is unsuccessful in its attempt to recover from a collateral source, ABS reasonable costs and attorney’s fees may be added to Buyer s account. ABS may proceed against a collateral source at any time regardless of the aging of Buyer s invoices.
Sample 1
COLLATERAL RECOVERY. If National Lumber seeks to recover payment from a collateral source (for example, against the owner of real property on a Mechanic’s Lien claim), National Lumber shall only be required to credit against Xxxxx’s account the net amount recovered after deducting costs and actual attorneys’ fees incurred. Furthermore, in the event that National Lumber is unsuccessful in its attempt to recover from a collateral source, National Lumber’s costs and attorneys’ fees incurred in the unsuccessful attempt shall be chargeable to and collectible from Buyer. For purposes of proceeding against a collateral source, all unpaid invoices for purchased products by Buyer shall be deemed immediately due and payable. The Buyer hereby grants to National Lumber a security interest in the products sold to the Buyer and any proceeds therefrom (including accounts receivable), until payment in full for the products has been received by National Lumber. The Buyer shall sign and deliver to National Lumber any document to perfect this security interest that National Lumber reasonably requests.
Sample 1
COLLATERAL RECOVERY. If Xxxxxx seeks to recover payment from a collateral source, pursuant to Division 4, Part 6 (Work of Improvement) of the California Civil Code (for example, against the owner of real property on a Mechanic's Lien claim), Avalon shall only be required to credit against Xxxxx’s account the net amount recovered after deducting costs and actual attorneys’ fees incurred. Furthermore, in the event that Avalon is unsuccessful in its attempt to recover from a collateral source, Avalon costs and attorneys’ fees incurred in the unsuccessful attempt shall be chargeable to and collectible from Buyer. For purposes of proceeding against a collateral source, all unpaid invoices for purchased products by Buyer shall be deemed immediately due and payable.
Sample 1

Related to COLLATERAL RECOVERY

  • Collateral Records Such Grantor will maintain complete and accurate books and records with respect to the Collateral owned by it, and furnish to the Collateral Agent, with sufficient copies for each of the Secured Parties, such reports relating to such Collateral as the Collateral Agent shall from time to time request.

  • Initial Collateral Custodian The role of Collateral Custodian with respect to the Required Loan Documents shall be conducted by the Person designated as Collateral Custodian hereunder from time to time in accordance with this Section 11.01. The Administrative Agent hereby designates and appoints the Collateral Custodian to act as its agent and hereby authorizes the Collateral Custodian to take such actions on its behalf and to exercise such powers and perform such duties as are expressly granted to the Collateral Custodian by this Agreement. The Collateral Custodian hereby accepts such agency appointment to act as Collateral Custodian pursuant to the terms of this Agreement, until its resignation or removal as Collateral Custodian pursuant to the terms hereof.

  • Collateral Examination Agent shall have completed Collateral examinations and received appraisals, the results of which shall be satisfactory in form and substance to Lenders, of the Receivables, Inventory, General Intangibles, and Equipment of each Borrower and all books and records in connection therewith;

  • Collateral Monitoring Fee Borrowers shall pay to Agent on the first day of each month following any month in which Agent performs any collateral monitoring - namely any field examination, collateral analysis or other business analysis, the need for which is to be determined by Agent and which monitoring is undertaken by Agent or for Agent’s benefit - a collateral monitoring fee in an amount equal to $850 per day for each person employed to perform such monitoring, plus all costs and disbursements incurred by Agent in the performance of such examination or analysis.

  • The Mortgage Pool The Series ____-__ Certificates shall evidence the entire beneficial ownership interest in a mortgage pool (the "Mortgage Pool") of conventional, fixed rate, fully amortizing one- to four-family residential mortgage loans (the "Mortgage Loans") having the following characteristics as of ________ __, ____ (the "Cut-off Date"):

  • Mortgage Loan The appraisal was conducted by an appraiser who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Collateral Custodian Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent or its designee may at any time and from time to time employ and maintain on the premises of any Loan Party a custodian selected by the Collateral Agent or its designee who shall have full authority to do all acts necessary to protect the Agents’ and the Lenders’ interests. Each Loan Party hereby agrees to, and to cause its Subsidiaries to, cooperate with any such custodian and to do whatever the Collateral Agent or its designee may reasonably request to preserve the Collateral. All costs and expenses incurred by the Collateral Agent or its designee by reason of the employment of the custodian shall be the responsibility of the Borrowers and charged to the Loan Account.

  • Collateral Event In the event that either (a) the Advisor does not make the Fund Reimbursement Payment due in connection with a particular calendar month by the tenth day of the following calendar month or (b) the Board enacts a resolution calling for the liquidation of the Fund (either (a) or (b), a “Collateral Event”), then, in either event, the Board shall have absolute discretion to redeem any shares or other Collateral held in the Collateral Account and utilize the proceeds from such redemptions or such other Collateral to make any required Fund Reimbursement Payment, or to cover any costs or expenses which the Board, in its sole and absolute discretion, estimates will be required in connection with the liquidation of the Fund (the “Liquidation Expenses”). Pursuant to the terms of Paragraph 6 of this Agreement, upon authorization from the Board, but subject to the provisions of the Control Agreement, no further instructions shall be required from the Advisor for the Securities Intermediary to transfer any Collateral from the Collateral Account to the Fund. The Advisor acknowledges that in the event the Collateral available in the Collateral Account is insufficient to cover the full cost of any Fund Reimbursement Payment or Liquidation Expenses, the Fund shall retain the right to receive from the Advisor any costs in excess of the value of the Collateral.

  • Collateral Agency Agreement New Secured Party hereby acknowledges receipt of a copy of the executed Collateral Agency Agreement. New Secured Party hereby becomes (and is hereby designated by GECC) a Secured Party under the Collateral Agency Agreement. New Secured Party agrees to be bound by the terms thereof and hereby authorizes Collateral Agent to act on its behalf under the Collateral Agency Agreement with respect to its Designated Lease Assets set forth on Schedule I attached hereto.

  • Whole Loan Each Mortgage Loan is a whole loan and not a participation interest in a mortgage loan.

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