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 Collateral Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for the Loans, together with the costs of collection and the fees of any attorneys employed by the 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: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)

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Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Administrative Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate for Alternate Base Rate for Loans set forth in Section 2.10 of the LoansCredit Agreement, together with the reasonable costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for rate determined in accordance with the Loansterms 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 Collateral 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)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Administrative Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for the LoansRate, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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: 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 3 contracts

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

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 2.9 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 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 Collateral Administrative Agent or the other holders of the Secured Parties Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for rate of interest then in effect pursuant to Section 5.1(c) of the LoansCredit Agreement, together with the costs of collection and the fees fees, charges and disbursements of any attorneys employed by the Collateral 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 Collateral Agent or the other 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 Interest Rate applicable while an Event of Default Rate for the Loanshas occurred and is continuing, together with the costs of collection and the fees reasonable fees, charges and disbursements of any attorneys employed by the Collateral 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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for rate of interest applicable thereto pursuant to Section 2.10(b) of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for set forth in Section 4.2 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 2 contracts

Samples: Pledge Agreement (Transmontaigne Inc), Pledge Agreement (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 Collateral Administrative Agent or the other 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 Default Rate for the LoansRate, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 (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 Collateral Agent or the 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 for default rate of interest set forth in the LoansNotes, together with the reasonable costs of collection and the reasonable fees of any attorneys employed by the 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 Borrowers or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

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

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in SECTION 3.1 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate set forth in Section 4.2 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 2 contracts

Samples: Security Agreement (Nationsrent Companies Inc), Pledge 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (Simcala Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent Agents or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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/)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate as set forth in Section 2.7 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 3.1 of the Credit Agreement for Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for the LoansRate, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Administrative Agent or the other holders of the Secured Parties Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for the LoansRate, together with the costs of collection and the fees reasonable fees, charges and disbursements of any attorneys employed by counsel to the Collateral Administrative Agent (subject to collect such deficiencySection 11.04 of the Credit Agreement). Any surplus remaining after the full payment and satisfaction of the Secured Obligations have been Fully Satisfied 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 (Kid Brands, Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Administrative Agent or the other 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 Default Rate for the LoansRate, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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)

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Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors Credit Parties shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for set forth in Section 4.2 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys actually incurred employed by the 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 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 Collateral Administrative Agent or the other 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 for default rate as set forth in Section 2.5 of the LoansCredit Agreement, together with any fees and expenses in connection therewith, as provided for in Section 9.5 of the costs of collection and the fees of any attorneys employed by the Collateral 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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for rate determined in accordance with the Loansterms 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 Collateral 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 Collateral Agent, the Canadian Agent or and the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate set forth in Section 4.2(b) of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate specified in Section 2.4(b) of the Loans, Term Loan Agreement together with the costs of collection and the reasonable fees of any attorneys employed by the 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: 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 Collateral Agent or the other Secured Parties are and each Lender is legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for specified in Section 3.1 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate specified in Section 3.1 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate set forth in Section 4.2 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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.. (g)

Appears in 1 contract

Samples: Credit Agreement (Nationsrent Companies Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for applicable rate set forth in the LoansIndenture, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (Gencorp Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate specified in Section 2.4 of the Loans, Acquisition Loan Agreement together with the costs of collection and the reasonable fees of any attorneys employed by the 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: Guaranty and Security Agreement (Infocrossing 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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate specified in Section 2.7 of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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 Collateral Agent or the other Secured Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, deficiency together with interest thereon at the Default Rate for interest rate provided in Section 4.01 of the LoansIndenture, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 Collateral Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default default rate specified in Section 4.2 of the Credit Agreement for Revolving Loans that are Base Rate for the Loans, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (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 Collateral Administrative Agent or the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate specified in Section 2.10(b) of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the Collateral 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)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Collateral Agent or and the other Secured Parties Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate for default rate set forth in Section 4.2(b) of the LoansCredit Agreement, together with the costs of collection and the reasonable fees of any attorneys employed by the 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 (Nacco Industries Inc)

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