Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor of Lender (the “Third Party Debtor”), Lender may at its option to protect the interests of Lender, advance sums in the amount of the Third Party Debt under the Agreement and pay directly to the Third Party Debtor the amount of the Third Party Debt.
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Samples: Loan and Security Agreement (Andalay Solar, Inc.), Loan and Security Agreement (Great American Group, Inc.)
Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor of Lender (the “Third Party Debtor”), Lender may at its option to protect the interests of Lender, advance sums in the amount of the Third Party Debt to Borrower under the Agreement and pay directly to the Third Party Debtor the amount of the obligation owed by Borrower to the Third Party DebtDebtor.
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Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor obliger of Lender (the “Third Party Debtor”), Lender may at its option to protect the interests of Lender, advance sums in the amount of the Third Party Debt under the Agreement and pay directly to the Third Party Debtor the amount of the Third Party Debt.
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Samples: Loan and Security Agreement (DecisionPoint Systems, Inc.)
Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor of Lender (the “"Third Party Debtor”"), Lender may at its option to protect the interests of Lender, advance sums in the amount of the Third Party Debt to Borrower under the Agreement and pay directly to the Third Party Debtor the amount of the obligation owed by Borrower to the Third Party DebtDebtor.
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Samples: Loan and Security Agreement (Vertical Branding, Inc.)
Third Party Debt. If Borrower owes money to any third party (the “Third Party Debt”) which is also a borrower or other obligor of Lender Lenders (the “Third Party Debtor”), Lender Lenders may at its option to protect the interests of LenderLenders, advance sums in the amount of the Third Party Debt under the Agreement and pay directly to the Third Party Debtor the amount of the Third Party Debt.
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