Voluntary Foreclosure. The Secured Party may elect to retain any of the Collateral in satisfaction of the Obligations or any of them. The Secured Party may designate any part of the Obligations to be satisfied by the retention of particular Collateral which the Secured Party considers to have a net realizable value approximating the amount of the designated part of the Obligations, in which case only the designated part of the Obligations will be considered to be satisfied by the retention of the particular Collateral.
Appears in 3 contracts
Samples: General Security Agreement (Vista Gold Corp), General Security Agreement (Red Mile Entertainment Inc), Commercial Security Agreement (Icon Laser Eye Centers Inc)
Voluntary Foreclosure. The Secured Party Parties may elect to retain any of the Collateral in satisfaction of the Obligations or any of them. The Secured Party Parties may designate any part of the Obligations to be satisfied by the retention of particular Collateral which the Secured Party considers Parties consider to have a net realizable value approximating the amount of the designated part of the Obligations, in which case only the designated part of the Obligations will be considered to be satisfied by the retention of the particular Collateral.
Appears in 1 contract
Samples: General Security Agreement (DecisionPoint Systems, Inc.)
