Failure to Deposit Proceeds. If Borrower shall fail to deliver payments made under the Pledged Notes Receivable directly to Agent as required pursuant to Section 2.4 above, or if Borrower shall take any other act which Agent shall deem to be a conversion of the Collateral or fraudulent with respect to any Lender.
Appears in 3 contracts
Samples: Loan Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail fails to deliver any payments made under the Pledged Notes Receivable directly to Lender or Lockbox Agent as required pursuant to by Section 2.4 above2.5 hereof (other than inadvertent failures that are corrected immediately upon discovery), or if Borrower shall take takes any other act action which Agent Lender shall deem to be a conversion of all or any portion of the Collateral or fraudulent with respect to any Lender.
Appears in 3 contracts
Samples: Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc)
Failure to Deposit Proceeds. If Borrower shall fail to deliver payments made under the Pledged Notes Receivable directly to Agent as required pursuant to Section 2.4 2.3 above, or if Borrower shall take any other act which Agent or any Lender shall deem to be a conversion of the Collateral or fraudulent with respect to Agent or any Lender.
Appears in 2 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail to deliver payments made under the Pledged Notes Receivable directly to Agent as required pursuant to Section 2.4 above2.3 hereof, or if Borrower shall take any other act which Agent or any Lender shall deem to be a conversion of the Collateral or fraudulent with respect to Agent or any Lender.
Appears in 1 contract
Samples: Loan and Security Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail fails to deliver any payments made received under the any Pledged Notes Note Receivable directly to Lender or Lockbox Agent as required pursuant to by Section 2.4 above2.3(b) hereof, or if Borrower shall take takes any other act action which Agent Lender shall deem to be a conversion of all or any portion of the Collateral or fraudulent with respect to any Lender.
Appears in 1 contract
Samples: Inventory Loan and Security Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail fails to deliver any payments made received under the any Pledged Notes Note Receivable directly to Lender or Lockbox Agent as required pursuant to by Section 2.4 abovehereof, or if Borrower shall take takes any other act action which Agent Lender shall deem to be a conversion of all or any portion of the Collateral or fraudulent with respect to any Lender.
Appears in 1 contract
Samples: Receivables Loan and Security Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail to deliver payments made under the Pledged Notes Receivable directly to Agent as required pursuant to Section 2.4 2.3 above, or if Borrower shall take any other act which Agent shall deem to be a conversion of the Collateral or fraudulent with respect to any Lender.
Appears in 1 contract
Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)
Failure to Deposit Proceeds. If Borrower shall fail to deliver payments made to Borrower under the Pledged Notes Receivable directly to Agent Lender or Lockbox Agent, as required pursuant to Section 2.4 abovehereunder, or if Borrower shall take any other act which Agent Lender shall deem to be a conversion of all or any portion the Collateral or fraudulent with respect to any Lender.
Appears in 1 contract
Samples: Loan Agreement (Cr Resorts Capital S De R L De C V)
