Common use of Deficiency of Proceeds Clause in Contracts

Deficiency of Proceeds. Without prejudice to the rights of the Bank subsequent to a Termination Event, if the amount realised by the Bank after deduction of all fees, dues, costs, rates, taxes and other outgoings is less than the amount due and payable to the Bank under the Transaction Documents, the Customer shall pay to the Bank the difference between the amount due and the amount so realised.

Appears in 4 contracts

Samples: Forward Lease Agreement, Service Agency Agreement, Management Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!