Sales on Credit. If the Bank sells any of the Collateral upon credit, the Borrower will be credited only with payments actually made by the purchaser, received by the Bank and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, the Bank may resell the Collateral and the Borrower shall be credited with the proceeds of the sale.
Appears in 5 contracts
Samples: Loan Agreement (Emergent BioSolutions Inc.), Loan Agreement (Emergent BioSolutions Inc.), Loan and Security Agreement (Emergent BioSolutions Inc.)
Sales on Credit. If the Bank LENDER sells any of the Collateral upon on credit, the Borrower Dealer will be credited only with payments actually made by the purchaser, received by the Bank LENDER and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, the Bank LENDER may resell the Collateral and the Borrower Dealer shall be credited with the proceeds of the sale.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Adesa Inc), Receivables Purchase Agreement (Adesa Inc)
Sales on Credit. If the Bank sells any of the Collateral upon on credit, the Borrower will be credited only with payments actually made by the purchaser, received by the Bank and applied to the indebtedness of the purchaserObligations. In the event If the purchaser fails to pay for the Collateral, the Bank may resell the Collateral Collateral, and the Borrower shall be credited with the proceeds of the sale."
Appears in 2 contracts
Samples: Revolving Loan and Security Agreement (American Science & Engineering Inc), Export Credit and Security Agreement (American Science & Engineering Inc)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower will be credited only with payments actually made by the purchaser, purchaser of such Collateral and received by the Bank and applied to the indebtedness of the purchaserLender. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell re-sell the Collateral and the Borrower shall be credited with the proceeds of the sale.
Appears in 2 contracts
Samples: Loan and Security Agreement (Saztec International Inc), Loan and Security Agreement (Iparty Corp)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Debtors will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaserIndebtedness. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral Collateral, and the Borrower Debtors shall be credited with the proceeds of the sale.
Appears in 2 contracts
Samples: Security Agreement, General Security Agreement (Ep Medsystems Inc)
Sales on Credit. If the Bank Lender sells any of the Collateral upon credit, the Borrower will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaser. In the event that the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral and the Borrower shall will be credited with the proceeds of the such sale.
Appears in 2 contracts
Samples: Loan and Security Agreement (Formfactor Inc), Loan and Security Agreement (Probusiness Services Inc)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Debtor will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaserIndebtedness. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral Collateral, and the Borrower Debtor shall be credited with the proceeds of the sale.
Appears in 2 contracts
Samples: General Security Agreement (Hooper Holmes Inc), General Security Agreement (Hudson Technologies Inc /Ny)
Sales on Credit. If the Bank Lender sells any of the Collateral upon credit, the Borrower Loan Parties will be credited only with payments actually made by the purchaser, purchaser and received by the Bank Lender and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral and the Borrower Loan Parties shall be credited with the proceeds of the sale.
Appears in 1 contract
Samples: Loan and Security Agreement and Guaranty (Allied Holdings Inc)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Loans and Obligations will be credited only with payments actually made by the purchaser, purchaser of the Collateral that are received by the Bank and applied to the indebtedness of the purchaserLender. In the event the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral Collateral, and the Borrower shall be credited with the proceeds of sale shall be applied to the saleLoans and Obligations. No portion of the unpaid sales price will be credited against the Loans or the Obligations.
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Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Borrowers will be credited only with payments actually made by the purchaser, purchaser of such Collateral and received by the Bank and applied to the indebtedness of the purchaserLender. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell re-sell the Collateral and the Borrower Borrowers shall be credited with the proceeds of the sale.
Appears in 1 contract
Sales on Credit. If the Bank sells any of the Collateral upon credit, the Borrower will be credited only with payments actually made by the purchaser, received by the Bank and applied to the indebtedness of the purchaser. In the event the any purchaser fails to pay for the Collateral, the Bank may resell the Collateral and the Borrower shall be credited with the proceeds of the sale.
Appears in 1 contract
Sales on Credit. If the Bank LENDER sells any of the Collateral upon on credit, the Borrower Dealer will be credited only with payments actually made by the purchaser, received by the Bank LENDER and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the the. Collateral, the Bank LENDER may resell the Collateral and the Borrower Dealer shall be credited with the net proceeds of the sale.
Appears in 1 contract
Samples: Note and Security Agreement (Acamar Partners Acquisition Corp.)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Borrowers will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaserIndebtedness. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral Collateral, and the Borrower Borrowers shall be credited with for the proceeds of the sale.
Appears in 1 contract
Sales on Credit. If the Bank sells Should any of the Collateral be sold by --------------- Lender upon creditcredit or for future delivery, the Borrower will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaserPurchaser. In the event the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral and the Borrower shall be credited with the proceeds of the sale.
Appears in 1 contract
Samples: Credit Agreement (Paymap Inc)
Sales on Credit. If the Bank Lender sells any of the Collateral upon on credit, the Borrower Debtor will be credited only with payments actually made by the purchaser, received by the Bank Lender and applied to the indebtedness of the purchaserObligations. In the event If the purchaser fails to pay for the Collateral, the Bank Lender may resell the Collateral Collateral, and the Borrower Debtor shall be credited with the proceeds of the sale.
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