Common use of Deficiency Clause in Contracts

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 4 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

AutoNDA by SimpleDocs

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined for Alternate Base Rate Loans set forth in accordance with the terms and conditions of Section 2.9 2.10 of the Credit Agreement, together with the reasonable costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 4 contracts

Samples: Security Agreement (Pantry Inc), Security Agreement (Pantry Inc), Security Agreement (Pantry Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with Default Rate for the terms and conditions of Section 2.9 of the Credit AgreementLoans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 4 contracts

Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined set forth in accordance with the terms and conditions of Section 2.9 4.2 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: Security Agreement (Nationsrent Companies Inc), Credit Agreement (Nationsrent Companies Inc), Credit Agreement (Wolverine Tube Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Credit Party Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: u.s. Security Agreement (VOXX International Corp), Security Agreement (Carrols Restaurant Group, Inc.), Security Agreement (Impax Laboratories Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: Credit Agreement (Signal Medical Services), Security Agreement (PRG Schultz International Inc), Credit Agreement (Jw Childs Equity Partners Ii Lp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: Credit Agreement (Cluett Peabody & Co Inc /De), Credit Agreement (Vestar Sheridan Inc), Credit Agreement (Insight Health Services Corp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security Agreement (Galey & Lord Inc), Security Agreement (Galey & Lord Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders Secured Parties are legally entitled, the Obligors who are Guarantors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Amended and Restated Credit Agreement (IASIS Healthcare LLC), Revolving Credit Agreement (IASIS Healthcare LLC)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders other Secured Parties are legally entitled, the Obligors Borrowers shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined of interest set forth in accordance with the terms and conditions of Section 2.9 of the Credit AgreementNotes, together with the reasonable costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Borrowers or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Dover Motorsports Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined of interest then in accordance with the terms and conditions of effect pursuant to Section 2.9 5.1(c) of the Credit Agreement, together with the costs of collection and the reasonable fees fees, charges and disbursements of any attorneys employed by the Administrative Agent to collect such deficiencycounsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Orbital Atk, Inc.), Security and Pledge Agreement (Orbital Sciences Corp /De/)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined Default Rate set forth in accordance with the terms and conditions of Section 2.9 4.2 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Senior Secured Working Capital Credit Facility (Transmontaigne Inc), Senior Secured Credit Facility (TransMontaigne Partners L.P.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 23 hereof), together with interest thereon at the rate determined in accordance with the terms Interest Rate applicable while an Event of Default has occurred and conditions of Section 2.9 of the Credit Agreementis continuing, together with the costs of collection and the reasonable fees fees, charges and disbursements of any attorneys employed by the Administrative Agent to collect such deficiencycounsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Venus Concept Inc.), Guaranty and Security Agreement (Venus Concept Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 SECTION 3.1 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Credit Agreement (Simonds Industries Inc), Security Agreement (Cluett Peabody & Co Inc /De)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of interest applicable thereto pursuant to Section 2.9 2.10(b) of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Agency Succession and Amendment Agreement (GateHouse Media, Inc.), Security Agreement (GateHouse Media, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, and subject to Section 2.1 of the Credit Agreement, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Unifi Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 4.2 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Fresh Foods Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders holders of the Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees fees, charges and disbursements of any attorneys employed by the Administrative Agent to collect such deficiencycounsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Grand Canyon Education, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Revolving Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of 13 188 the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Modtech Holdings Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or and the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined set forth in accordance with the terms and conditions of Section 2.9 4.2(b) of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Nacco Industries Inc)

Deficiency. In Subject to applicable law, in the event that the ---------- proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 2.7 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Racing Champions Corp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Loans that are Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Simcala Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (M & M Properties Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 2.10(b) of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Dean Holding Co)

AutoNDA by SimpleDocs

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders Purchasers are legally entitled, the Obligors Company shall be jointly and severally liable for the deficiency, together with interest thereon at a rate equal to the rate determined Late Charge (as defined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementNotes), together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Company or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (VeruTEK Technologies, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders are and each Lender is legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined Default Rate specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent or any Lender to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (PRG Schultz International Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Delta Woodside Industries Inc /Sc/)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.. CHAR1\1473448v2

Appears in 1 contract

Samples: Security Agreement (Red Robin Gourmet Burgers Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, deficiency together with interest thereon at the interest rate determined provided in accordance with the terms and conditions of Section 2.9 4.01 of the Credit AgreementIndenture, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Unifi Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent, the Canadian Agent or and the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined set forth in accordance with the terms and conditions of Section 2.9 4.2(b) of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Nacco Industries Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 2.4(b) of the Credit Agreement, Term Loan Agreement together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infocrossing Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the applicable rate determined set forth in accordance with the terms and conditions of Section 2.9 of the Credit AgreementIndenture, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Second Lien Security Agreement (Gencorp Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 2.4 of the Credit Agreement, Acquisition Loan Agreement together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infocrossing Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations (other than contingent indemnification obligations) shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Team Health Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Collateral Agent or the Lenders Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined as set forth in accordance with the terms and conditions of Section 2.9 2.7 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Collateral Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Rock-Tenn CO)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders Secured Parties are legally entitled, the Obligors who are Guarantors shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined in accordance with the terms and conditions of Section 2.9 of the Credit AgreementDefault Rate, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (IASIS Healthcare LLC)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders are legally entitled, the Obligors Credit Parties shall be jointly and severally liable for the deficiency, together with interest thereon at the rate determined Default Rate set forth in accordance with the terms and conditions of Section 2.9 4.2 of the Credit Agreement, together with the costs of collection and the reasonable fees of any attorneys actually incurred employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Credit Parties or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (World Air Holdings, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Lenders Secured Parties are legally entitled, or entitled to hereunder or under any other Credit Document, the Obligors Grantors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined as set forth in accordance with the terms and conditions of Section 2.9 2.5 of the Credit Agreement, together with any fees and expenses in connection therewith, as provided for in Section 9.5 of the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent to collect such deficiencyCredit Agreement. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Standard Premium Finance Holdings, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent Agents or the Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the default rate determined specified in accordance with the terms and conditions of Section 2.9 3.1 of the Credit AgreementAgreement for Base Rate Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Administrative Agent Agents to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (Delta Woodside Industries Inc /Sc/)

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