Common use of Purchase of Collateral Clause in Contracts

Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and to the extent, but only to the extent, approved by the Required Secured Parties (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase price.

Appears in 3 contracts

Samples: Credit Agreement (Leap Wireless International Inc), Credit Agreement (Leap Wireless International Inc), Credit Agreement (Leap Wireless International Inc)

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Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and to the extent, but only to the extent, approved by the Required Secured Parties Enforcement Lenders (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder Lender at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase price.

Appears in 1 contract

Samples: Common Agreement (Velocom Inc)

Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and to the extent, but only to the extent, approved by the Required Secured Parties (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase price.

Appears in 1 contract

Samples: Collateral Agency and Intercreditor Agreement (Leap Wireless International Inc)

Purchase of Collateral. Any Secured Party may purchase ----------------------- ---------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and to the extent, but only to the extent, approved by the Required Secured Parties (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase price.

Appears in 1 contract

Samples: Credit Agreement (Leap Wireless International Inc)

Purchase of Collateral. Any Secured Party may purchase ----------------------- ---------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and may make payment on account thereof by using any outstanding Obligation then due and payable to such Secured Party from the person which granted a security interest in such Collateral as a credit against the purchase price to the extent, but only to the extent, approved by the Required Secured Parties Parties. The Collateral Agent shall give prior notice of any such sale to each Secured Party (determined for this purpose without giving effect to the Obligations owed to extent that the Secured Party that is making Collateral Agent has received notice of such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase pricesale).

Appears in 1 contract

Samples: Collateral Agency and Intercreditor Agreement (Edison Mission Energy)

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Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant to the Master Pledge Agreement and may make payment on account thereof by using any of Outstanding Obligation then due and payable to such Secured Party from the Security Documents and person that granted a security interest in such Collateral as a credit against the purchase price to the extent, but only to the extent, approved by the Required Secured Parties (determined for this purpose without giving effect to Lenders and holders of a majority of the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase priceVoting Senior Note Obligations.

Appears in 1 contract

Samples: Pledge Intercreditor Agreement (Rti Capital Corp)

Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant to any of the Security Documents and to the extentCollateral Documents, but only to the extent, approved extent such action does not contravene any requirement of law and only if the consideration paid by the Required Secured Parties (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase priceis cash.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (School Specialty Inc)

Purchase of Collateral. Any Secured Party may purchase ----------------------- Collateral at any public sale of such Collateral pursuant and may make payment on account thereof by using any outstanding Obligation then due and payable to any of such Secured Party from the Security Documents and Person that granted a security interest in such Collateral as a credit against the purchase price to the extent, but only to the extent, approved by the Required Secured Parties (determined for this purpose without giving effect to the Obligations owed to the Secured Party that is making such purchase, unless it is the only Holder at the time) may make payment on account thereof by using any Obligation then due and payable to such Secured Party from the Person which granted a security interest in such Collateral as a credit against the purchase priceLenders.

Appears in 1 contract

Samples: Credit Agreement (Viasystems Group Inc)

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