Application of Collateral; Termination of Agreements. Upon the occurrence of an Event of Default, Lender may apply against the Indebtedness any and all Collateral in its possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to Borrower held by Lender hereunder or under any other financing agreement or otherwise, whether accrued or not.
Appears in 4 contracts
Samples: Loan Agreement (Mego Financial Corp), Loan and Security Agreement (Silverleaf Resorts Inc), Inventory and Development Loan and Security Agreement (Silverleaf Resorts Inc)
Application of Collateral; Termination of Agreements. Upon the ---------------------------------------------------- occurrence of an Event of Default, Lender may apply against the Indebtedness any and all Collateral in its possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to Borrower held by Lender hereunder or under any other financing agreement or otherwise, whether accrued or not.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mego Financial Corp), Loan and Security Agreement (Signature Resorts Inc)
Application of Collateral; Termination of Agreements. Upon the occurrence and during the continuance of an Event of Default, Lender may offset and apply against the Indebtedness under the Loan Documents any and all Collateral in its possession, any and all balances, credits, deposits, accounts, reserves, indebtedness Indebtedness or other moneys due or owing to Borrower or Guarantor held by Lender hereunder or under any other financing agreement or otherwise, whether accrued or not.
Appears in 1 contract
Samples: Loan and Security Agreement (Atlantic Coast Entertainment Holdings Inc)
Application of Collateral; Termination of Agreements. Upon the occurrence of an Event of Default, Lender may apply against the Indebtedness any and all Collateral in its possession, any and all balances, credits, deposits, accounts, reserves, indebtedness or other moneys due or owing to Borrower held by Lender Agent hereunder or under any other financing agreement agreement, Loan Agreement or otherwise, whether accrued or not.
Appears in 1 contract
