Common use of Proceeds of Dispositions; Expenses Clause in Contracts

Proceeds of Dispositions; Expenses. The Borrower shall pay to any Lender on demand any and all expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by such Lender in protecting, preserving, or enforcing the Lenders’ rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Lenders may determine, proper allowance and provision being made for any Obligations not then due. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower shall remain liable for any deficiency.

Appears in 7 contracts

Samples: Security Agreement (SANUWAVE Health, Inc.), Security Agreement (SANUWAVE Health, Inc.), Security Agreement (SANUWAVE Health, Inc.)

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Proceeds of Dispositions; Expenses. The Borrower shall pay to any the Lender on demand any and all expenses, including court costs and reasonable attorneys' fees and disbursements, incurred or paid by such the Lender in protecting, preserving, preserving or enforcing the Lenders’ Lender's rights and remedies under or in respect of any of the Obligations or any of the Pledged Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of the Pledged Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Lenders Lender may determine, proper allowance and provision being made for any Obligations not then due. In Upon the absence of final payment and satisfaction in full of all of the ObligationsObligations and after making any payments required by the Uniform Commercial Code of the State of Connecticut, any excess shall be returned to the Borrower shall remain liable for any deficiencyBorrower.

Appears in 2 contracts

Samples: Fourth Agreement (Qep Co Inc), Stock Pledge Agreement (Edac Technologies Corp)

Proceeds of Dispositions; Expenses. The Borrower shall pay to any the Lender on demand any and all expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by such the Lender in protecting, preserving, or enforcing the Lenders’ Lender’s rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Lenders Lender may determine, proper allowance and provision being made for any Obligations not then due. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower shall remain liable for any deficiency.

Appears in 2 contracts

Samples: Security Agreement (Modular Medical, Inc.), Security Agreement (SANUWAVE Health, Inc.)

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Proceeds of Dispositions; Expenses. The Borrower shall pay to any the Lender on demand any and all expenses, including reasonable attorneys' fees and disbursements, incurred or paid by such the Lender in protecting, preserving, or enforcing the Lenders’ Lender's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Lenders Lender may determine, proper allowance and provision being made for any Obligations not then due. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Stemtech Corp)

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