Proceeds” of Collateral definition

Proceeds” of Collateral means: (i) all “proceeds”, as defined in Article 9 of the Uniform Commercial Code as in effect in the State of New York from time to time, (ii) payments or distributions made with respect to such Collateral and (iii) whatever is receivable or received when such Collateral or proceeds thereof is sold, leased, licensed, exchanged, collected or otherwise disposed of, whether such disposition is voluntary or involuntary. Proceeds shall not include, as to any Existing Notes Creditor, Proceeds of any Collateral on which the Existing Notes Creditor do not have a valid and perfected Lien, or on which they may acquire a Lien in violation of the provisions hereof, including Section 2.4(d) hereof
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Proceeds” of Collateral means all proceeds of Collateral, including (i) all “proceeds” of Collateral as defined by Article 9 of the Uniform Commercial Code and (ii) all other amounts or assets distributed on account of any First Out Secured Claim or Last Out Secured Claim or the proceeds therefor, including Reorganization Securities but excluding Permitted Reorganization Securities.
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Proceeds” of Collateral means: (i) all “proceeds”, as defined in Article 9 of the Uniform Commercial Code as in effect in the State of New York from time to time, (ii) payments or distributions made with respect to such Collateral and (iii) whatever is receivable or received when such Collateral or proceeds thereof is sold, leased, licensed, exchanged, collected or otherwise disposed of, whether such disposition is voluntary or involuntary.
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Examples of Proceeds” of Collateral in a sentence

  • Proceeds of Collateral include insurance proceeds and, therefore, the Lien Priority shall govern the ultimate disposition of casualty insurance proceeds.

  • Proceeds of Collateral shall be allocated in accordance with this Section 6.02.

  • Subject to distributions permitted under the Security Agreement or this Agreement, the Proceeds of Collateral shall be maintained in the Deposit Accounts, and no such account shall be required to be interest bearing.

  • If any Borrower receives a payment of the Proceeds of Collateral directly, such Borrower will promptly deposit the payment or Proceeds into the Collection Account.

  • Investment Criteria During the Reinvestment Period, the Collateral Manager will on behalf of the Issuer from time to time instruct the Trustee to invest Principal Proceeds (including Sale Proceeds of Collateral Debt Securities and any Interest Reinvestment Test Diversion Amount) in additional Collateral Debt Securities.

  • If Company receives a payment or the Proceeds of Collateral directly, Company will promptly deposit the payment or Proceeds into the Collection Account.

  • The parties agree that if any such payments, or any other Proceeds of Collateral, are received by PCEA, they shall be held in trust by PCEA for the benefit of the Collateral Agent, and PCEA shall as promptly as possible remit or deliver same to Collateral Agent for application as provided herein.

  • On December 3, 2010, the Court entered the Order Approving Stipulation and Agreement Regarding Distribution of Certain Proceeds of Collateral Between the Chapter 7 Trustee and American Capital Ltd., as Agent for Certain Purchasers (“Approval Order”), approving the Sharing Stipulation [Docket No. 289].

  • At any time after the occurrence of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments (including Proceeds of Collateral) at any time or times thereafter which may be received by the Lender by or for the benefit of the Borrower.

  • The relative rights of Claimholders in or to any distributions from or in respect of any Collateral or Proceeds of Collateral shall continue after the commencement of any Insolvency Proceeding.


More Definitions of Proceeds” of Collateral

Proceeds” of Collateral means all proceeds of Collateral, including (a) all "proceeds" of Collateral as defined by Article 9 of the Uniform Commercial Code as in effect in the State of Illinois and (b) all other amounts or assets distributed on account of any First Out Secured Claim or Last Out Secured Claim or the proceeds thereof, but excluding Permitted Reorganization Securities received by any Last Out Holder.
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Related to Proceeds” of Collateral

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Canadian Collateral means any and all property of any Canadian Loan Party subject (or purported to be subject) to a Lien under any Collateral Document and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that is or becomes subject (or purported to be subject) to a Lien pursuant to any Collateral Document, in each case, to secure the Canadian Secured Obligations.

  • Collateral has the meaning set forth in Section 2.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.