Common use of Proceeds of Dispositions; Expenses Clause in Contracts

Proceeds of Dispositions; Expenses. The Company shall pay to the Secured Party on written demand any and all reasonable and documented expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses incurred in releasing any security interest granted hereunder and, in addition, the Company shall pay to the Secured Party on written demand any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party'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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Company. In the absence of final payment and satisfaction in full of all of the Obligations, the Company shall remain liable for any deficiency.

Appears in 2 contracts

Samples: Security Agreement (Seelos Therapeutics, Inc.), Security Agreement (Seelos Therapeutics, Inc.)

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Proceeds of Dispositions; Expenses. The Company Grantor shall pay to the Secured Party on written demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's ’s rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the Company Grantor shall pay to the Secured Party on written demand any and all documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party's ’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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the CompanyGrantor. In the absence of final payment and satisfaction in full of all of the Obligations, the Company Grantor shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Gse Systems Inc)

Proceeds of Dispositions; Expenses. The Company Debtors shall pay to the Secured Party Agent on written demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party Agent in protecting or preserving the Secured Party's Parties rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the Company Debtors shall pay to the Secured Party Agent on written demand any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Agent for the benefit of the Secured Party Parties in enforcing the Secured Party's Parties’ 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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the CompanyDebtors. In the absence of final payment and satisfaction in full of all of the Obligations, the Company Debtors shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Safe & Green Development Corp)

Proceeds of Dispositions; Expenses. The Each Company shall pay to the Secured Party on written demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's ’s rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the such Company shall pay to the Secured Party on written demand any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party's ’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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the applicable Company. In the absence of final payment and satisfaction in full of all of the Obligations, the each Company shall remain jointly and severally liable for any deficiency.

Appears in 1 contract

Samples: Guarantor Security Agreement (Abvc Biopharma, Inc.)

Proceeds of Dispositions; Expenses. The Company shall pay to the Secured Party on written demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's ’s rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the Company shall pay to the Secured Party on written demand any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party's ’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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the applicable Company. In the absence of final payment and satisfaction in full of all of the Obligations, the Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Securities Purchase Agreement (SinglePoint Inc.)

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Proceeds of Dispositions; Expenses. The Company Debtors shall pay to the Secured Party on written demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the Company Debtors shall pay to the Secured Party on written demand any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party'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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the CompanyDebtors. In the absence of final payment and satisfaction in full of all of the Obligations, the Company Debtors shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Know Labs, Inc.)

Proceeds of Dispositions; Expenses. The Company shall pay to the Secured Party on upon written demand amounts equal to any and all reasonable and documented expenses, including including, without limitation, attorneys' fees and disbursements, actually incurred or paid by the Secured Party in protecting or preserving the Secured Party's rights and remedies under or in respect of any of the Obligations or any of the Collateral and any such expenses actually incurred in releasing any security interest granted hereunder and, in addition, the Company shall pay to the Secured Party on written demand amounts equal to any and all expenses, including attorneys' fees and disbursements, actually incurred or paid by the Secured Party in enforcing the Secured Party'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 is provided in the SPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Company. In the absence of final payment and satisfaction in full of all of the Obligations, the Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Red Cat Holdings, Inc.)

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