Common use of Sales on Credit Clause in Contracts

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

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

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

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