Common use of Credit Balances; Additional Collateral Clause in Contracts

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Lender hereunder shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that the Revolving Loans may from time to time be temporarily in a credit position, until the termination of this Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Borrowers, and any other Property of the Borrowers (or any of them) in the possession of Lender, may be held by Lender, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Agreement. The liens and security interests granted to Lender herein and any other lien or security interest which Lender may have in any other assets of the Borrowers secure payment and performance of all present and future Obligations.

Appears in 4 contracts

Samples: Credit Agreement (Adcare Health Systems, Inc), Credit Agreement (Clarient, Inc), Credit Agreement (Prospect Medical Holdings Inc)

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Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Lender hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loans may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the ObligationsObligations (other than contingent indemnification obligations not yet due and payable). Any reserves or balances to the credit of the BorrowersCompany, and any other Property property or assets of the Borrowers (or any of them) Credit Party in the possession of the Lender, may be held by Lenderthe Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to Lender the Lender, herein and any other lien or security interest which the Lender may have in any other assets of the Borrowers any Credit Party secure payment and performance of all present and future Obligations.

Appears in 1 contract

Samples: Financing Agreement (Horsehead Holding Corp)

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