Common use of Sale of Product Clause in Contracts

Sale of Product. If Customer fails to nominate for removal or remove its Product in accordance with the terms of this Agreement, or if Customer fails to pay any amount owing to Magellan hereunder when due, then Customer authorizes Magellan to sell Customer’s Product in Magellan’s possession by private sale on terms that are commercially reasonable under the circumstances. If such a sale is effected, Magellan will withhold from the proceeds therefrom all amounts owed to it hereunder and all expenses of sale including, but not limited to, reasonable attorneys’ fees and any amount necessary to discharge all liens against said Product, and the balance of the proceeds, if any, shall be remitted to Customer.‌

Sale of Product. If Customer fails to nominate for removal or remove its Product in accordance with the terms of this Agreement, or if Customer fails to pay any amount owing to Magellan Xxxxxxxx hereunder when due, then Customer authorizes authorizes‌ Magellan to sell Customer’s Product in MagellanXxxxxxxx’s possession by private sale on terms that are commercially reasonable under the circumstances. If such a sale is effected, Magellan Xxxxxxxx will withhold from the proceeds therefrom all amounts owed to it hereunder and all expenses of sale including, but not limited to, reasonable attorneys’ fees and any amount necessary to discharge all liens against said Product, and the balance of the proceeds, if any, shall be remitted to Customer.‌Customer.

Sale of Product. If Customer fails to nominate for removal or remove its Product in accordance with the terms of this Agreement, or if Customer fails to pay any amount owing to Magellan hereunder when due, then Customer authorizes authorizes‌ Magellan to sell Customer’s Product in Magellan’s possession by private sale on terms that are commercially reasonable under the circumstances. If such a sale is effected, Magellan will withhold from the proceeds therefrom all amounts owed to it hereunder and all expenses of sale including, but not limited to, reasonable attorneys’ fees and any amount necessary to discharge all liens against said Product, and the balance of the proceeds, if any, shall be remitted to Customer.‌Customer.