Proceeds of Sale, Loss, Destruction or Condemnation of Collateral. Except as provided in subsection 6.4.2 hereof, if Borrower sells any Collateral or, if any of the Collateral is lost or destroyed or taken by condemnation, Borrower shall pay to Lender, unless otherwise agreed by Lender, as and when received by Borrower and as a mandatory prepayment of the Revolving Loan, a sum equal to the proceeds (including insurance payments) received by Borrower from such sale, loss, destruction or condemnation.
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Samples: Loan and Security Agreement (Iwt Tesoro Corp), Loan and Security Agreement (Iwt Tesoro Corp)
Proceeds of Sale, Loss, Destruction or Condemnation of Collateral. Except as provided in subsection 6.4.2 hereof, if If Borrower sells any Collateral orof the Real Property, or if any of the Collateral is lost xx xxxx or destroyed or taken by condemnation, Borrower Borrowers shall pay to Lender, unless otherwise agreed by LenderLender or as provided herein or in the Mortgages, as and when received by Borrower Borrowers and as a mandatory prepayment of the Revolving Term Loan, a sum equal to the proceeds (including insurance payments) received by Borrower Borrowers from such sale, loss, destruction or condemnation.
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Proceeds of Sale, Loss, Destruction or Condemnation of Collateral. Except as provided in subsection 6.4.2 hereof, if Borrower sells any Collateral or, of the Equipment or if any of the Collateral is lost or destroyed or taken by condemnation, Borrower shall pay to Lender, unless otherwise agreed by Lender, as and when received by Borrower and as a mandatory prepayment of the Revolving Loan, a sum equal to the proceeds (including insurance payments) received by Borrower from such sale, loss, destruction or condemnation.
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