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.
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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)
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: Security Agreement (Midstates Petroleum Company, Inc.), Security Agreement (Midstates Petroleum Company, Inc.)
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.
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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.
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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.
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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.
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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.
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