Sales on Credit. If the Secured Party sells any of the Collateral upon credit, Grantor will be credited only with payments actually made by purchaser and received by the Secured Party and applied to indebtedness of the Purchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and Grantor shall be credited with proceeds of the sale.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Xfit Brands, Inc.), Pledge and Security Agreement (Xfit Brands, Inc.)
Sales on Credit. If the Secured Party sells any of the Collateral upon credit, Grantor will be credited only with payments actually made by purchaser and received by the Secured Party and applied to indebtedness of the Purchaserpurchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and Grantor shall be credited with proceeds of the sale.
Appears in 1 contract
Samples: Pledge and Security Agreement (Atlantic Coast Entertainment Holdings Inc)
Sales on Credit. If the Secured Party sells any of the Collateral upon on credit, the applicable Grantor will be credited only with cash payments actually made by the purchaser and received by the Secured Party and applied to the indebtedness of the Purchaserpurchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and the applicable Grantor shall be credited with the proceeds of the sale.
Appears in 1 contract
Sales on Credit. If the Secured Party sells any of the Collateral upon credit, the Grantor will be credited only with payments actually made by purchaser and received by the Secured Party and applied to indebtedness of the Purchaserpurchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and the Grantor shall be credited with proceeds of the sale.
Appears in 1 contract
Samples: Pledge Agreement (Tekoil & Gas Corp)
Sales on Credit. If the Secured Party sells any of the Collateral upon credit, Grantor Grantors will be credited only with payments actually made by the purchaser thereof and received by the Secured Party and applied to indebtedness of the Purchasersuch purchaser. In the event the that such purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral Collateral, and Grantor Grantors shall be credited with the proceeds of the sale.
Appears in 1 contract
Samples: Pledge and Security Agreement (ComSovereign Holding Corp.)
Sales on Credit. If the Secured Party sells any of the Collateral upon credit, the Grantor will be credited only with payments actually made by purchaser and received by the Secured Party and applied to indebtedness of the Purchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and the Grantor shall be credited with proceeds of the sale.
Appears in 1 contract
Samples: Pledge and Security Agreement (Siberian Energy Group Inc.)
Sales on Credit. If the Secured Party sells any of the Collateral upon credit, Grantor Grantors will be credited only with payments actually made by purchaser and the purchaser, received by the Secured Party Party, and applied to the indebtedness of the Purchaserpurchaser. In the event the purchaser fails to pay for the Collateral, the Secured Party may resell the Collateral and Grantor Grantors shall be credited with proceeds the Proceeds of the sale.
Appears in 1 contract
Samples: Security Agreement (Harte Hanks Inc)
