SECURITY TRUSTEE'S SOLE RIGHT TO APPROPRIATE. No Obligor shall have the right to appropriate any payment to, or other sum received, recovered or held by, the Security Trustee in or towards payment of any particular part of the Secured Obligations and the Security Trustee shall have the exclusive right to appropriate any such payment or other sum as provided in this clause 27.
Appears in 4 contracts
Samples: Syndicated Credit Agreement (Bell Microproducts Inc), Supplemental Agreement (Bell Microproducts Inc), Syndicated Credit Agreement (Bell Microproducts Inc)
SECURITY TRUSTEE'S SOLE RIGHT TO APPROPRIATE. No Obligor The Mortgagor shall not have the right to appropriate any payment to, or other sum received, recovered or held by, the Security Trustee in or towards payment of any particular part of the Secured Obligations and the Security Trustee shall have the exclusive right to appropriate any such payment or other sum as provided in this clause 2717.
Appears in 2 contracts
Samples: Equitable Mortgage (Ashworth Inc), Equitable Mortgage (Ashworth Inc)
SECURITY TRUSTEE'S SOLE RIGHT TO APPROPRIATE. No Obligor shall have the right to appropriate any payment to, or other sum received, recovered or held by, the Security Trustee in or towards payment of any particular part of the Secured Obligations and the Security Trustee shall have the exclusive right to appropriate any such payment or other sum as provided in this clause 27Clause 27 (Trustee Provisions).
Appears in 2 contracts
Samples: Ninth Supplemental Agreement (Bell Microproducts Inc), Tenth Supplemental Agreement (Bell Microproducts Inc)
