DISPOSITION OF MONIES. Subject to any applicable requirements of the UCC, all monies collected or received by the Secured Party under or in exercise of any right it possesses with respect to Collateral shall be applied on account of the Obligations in such manner as the Secured Party deems best or, at the option of the Secured Party, may be held unappropriated in a collateral account or released to the Guarantor, all without prejudice to the liability of the Guarantor or the rights of the Secured Party under this Agreement, and any surplus shall be accounted for as required by law.
Appears in 4 contracts
Samples: General Security Agreement (Liquid Media Group Ltd.), Securities Purchase Agreement (Trident Brands Inc), Purchase Agreement (Trident Brands Inc)
