Common use of Sales on Credit Clause in Contracts

Sales on Credit. If the Agent sells any of the Collateral on credit, Borrower will be credited only with payments actually made by the purchaser, received by the Agent and applied to the Indebtedness. If the purchaser fails to pay for the Collateral, the Agent may resell the Collateral, and Borrower shall be credited with the proceeds of the sale.

Appears in 3 contracts

Samples: Loan and Security Agreement (WireCo WorldGroup Poland Holdings Sp. z.o.o.), Loan and Security Agreement (1295728 Alberta ULC), Loan and Security Agreement (1295728 Alberta ULC)

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Sales on Credit. If the Collateral Agent sells any of the Collateral on upon credit, Borrower Debtors will be credited only with payments actually made by the purchaser, received by the Agent Collateral Agent, and applied to the Indebtednessindebtedness of the purchaser. If In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the Collateral, Collateral and Borrower Debtors shall be credited with the proceeds of the sale.

Appears in 2 contracts

Samples: Intercreditor Agreement (Midstates Petroleum Company, Inc.), Intercreditor Agreement (Midstates Petroleum Company, Inc.)

Sales on Credit. If the Agent sells any of the Collateral on upon credit, Borrower will be credited only with payments actually made by the purchaser, received by the Agent and applied to the Indebtednessindebtedness of the purchaser. If In the event that the purchaser fails to pay for the Collateral, the Agent may resell the Collateral, Collateral and Borrower shall will be credited with the proceeds of the such sale.

Appears in 1 contract

Samples: Loan and Security Agreement (Roxio Inc)

Sales on Credit. If the Collateral Agent sells any of the Collateral on upon credit, Borrower Debtors will be credited only with payments actually made by the purchaser, received by the Agent Collateral Agent, and applied to the Indebtednessindebtedness of the purchaser. If In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the Collateral, Collateral and Borrower Debtors shall be credited with the proceeds of the sale.

Appears in 1 contract

Samples: Security Agreement (Breitburn Energy Partners LP)

Sales on Credit. If the Agent sells any of the Collateral on credit, Borrower the Debtor will be credited only with payments actually made by the purchaser, received by the Agent Agent, and applied to the Indebtednessindebtedness of the purchaser. If In the event the purchaser fails to pay for the Collateral, the Agent may resell the Collateral, Collateral and Borrower the Debtor shall be credited with the proceeds of the sale.

Appears in 1 contract

Samples: Pledge and Security Agreement (K2 Inc)

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Sales on Credit. If the Collateral Agent sells any of the Collateral on upon credit, Borrower the Secured Obligations will be credited only with payments actually made by the purchaser, purchaser and received by the Collateral Agent and applied to indebtedness of the Indebtednesspurchaser. If In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the Collateral, Collateral and Borrower Grantors shall be credited with the proceeds of the sale.

Appears in 1 contract

Samples: Pledge and Security Agreement (Kroll Inc)

Sales on Credit. If the Collateral Agent sells any of the Collateral on upon credit, the Borrower will be credited only with payments actually made by the purchaser, purchaser and received by the Collateral Agent and applied to indebtedness of the Indebtednesspurchaser. If In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the Collateral, Collateral and the Borrower shall be credited with the proceeds of the sale.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cheniere Energy Inc)

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