Post-Default Collections. Anything contained herein or in the other Loan Documents to the contrary notwithstanding (including, without limitation, Section 2.8(b)), all payments and collections received in respect of the Obligations and all proceeds of the Collateral and payments made under or in respect of the Guaranty Agreements received, in each instance, by the Bank after acceleration or the final maturity of the Obligations or termination of the Commitments as a result of an Event of Default shall be remitted to the Bank and applied in the Bank’s discretion.
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Samples: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)
Post-Default Collections. Anything contained herein or in the other Loan Documents to the contrary notwithstanding (including, without limitation, Section 2.8(b)), all payments and collections received in respect of the Obligations and all proceeds of the Collateral and payments made under or in respect of the Guaranty Agreements received, in each instance, by the Bank after acceleration or the final maturity of the Obligations or termination of the Commitments Facilities as a result of an Event of Default shall be remitted to the Bank and applied in the Bank’s discretion.
Appears in 2 contracts
Samples: Credit Agreement (Pioneer Power Solutions, Inc.), Credit Agreement (Pioneer Power Solutions, Inc.)
Post-Default Collections. Anything contained herein or in the other Loan Documents to the contrary notwithstanding (including, without limitation, Section 2.8(b2.11(b)), all payments and collections received in respect of the Obligations and all proceeds of the Collateral and payments made under or in respect of any guarantee signed by the Guaranty Agreements Guarantors received, in each instance, by the Bank after acceleration or the final maturity of the Obligations or termination of the Commitments Facilities as a result of an Event of Default shall be remitted to the Bank and applied in the Bank’s discretion.
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