Common use of Deficiency Clause in Contracts

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then Borrower shall be liable for any such deficiency.

Appears in 40 contracts

Samples: Loan and Security Agreement (Arrowroot Acquisition Corp.), Loan and Security Agreement (Arrowroot Acquisition Corp.), Loan and Security Agreement (Arrowroot Acquisition Corp.)

AutoNDA by SimpleDocs

Deficiency. If In the Proceeds event that the proceeds of any disposition sale of, collection from, or other realization upon, all or any part of the Collateral by Lender are insufficient to cover pay all costs and expenses of such sale and the payment in full of all the Obligationsamounts to which Lender is legally entitled, plus all other sums required to be expended or distributed by Lender, then Borrower each Obligor (unless otherwise provided) shall be liable for any such the deficiency, together with interest thereon as provided in the Loan Documents.

Appears in 9 contracts

Samples: Loan and Security Agreement (Legacy Housing Corp), Loan and Security Agreement (Legacy Housing Corp), Loan and Security Agreement (Blue Dolphin Energy Co)

Deficiency. If In the Proceeds event that the proceeds of any disposition sale of, collection from, or other realization upon, all or any part of the Collateral by Lender are insufficient to cover pay all costs and expenses of such sale and the payment in full of all the Obligationsamounts to which Lender is legally entitled, plus all other sums required to be expended or distributed by Lender, then Borrower Debtor (unless otherwise provided) shall be liable for any such the deficiency, together with interest thereon as provided in the Loan Documents.

Appears in 8 contracts

Samples: Loan and Security Agreement (CCF Holdings LLC), Loan and Security Agreement (Dawson Geophysical Co), Loan and Security Agreement (Community Choice Financial Inc.)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Agent or any Lender, then Borrower shall be liable for any such deficiency.

Appears in 6 contracts

Samples: Loan and Security Agreement (Abeona Therapeutics Inc.), Loan and Security Agreement (LifeMD, Inc.), Loan and Security Agreement (Biovie Inc.)

Deficiency. If the Proceeds of any disposition sale of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the ObligationsIndebtedness, plus all other sums required to be expended or distributed by Lender, then Borrower shall be liable for any such deficiency.

Appears in 4 contracts

Samples: Loan and Security Agreement (Adforce Inc), Loan and Security Agreement (Adforce Inc), Loan and Security Agreement (Adforce Inc)

Deficiency. If In the Proceeds event that the proceeds of any disposition sale of, collection from, or other realization upon, all or any part of the Collateral by Lender are insufficient to cover pay all costs amounts to which Lender is legally entitled, Borrower and expenses any party who guaranteed or is otherwise obligated to pay all or any portion of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then Borrower Indebtedness shall be liable for any such the deficiency, together with interest thereon as provided in the Loan Documents.

Appears in 4 contracts

Samples: Loan and Security Agreement (Viewcast Com Inc), Exchange Agreement (Viewcast Com Inc), Loan and Security Agreement (Viewcast Com Inc)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then each Borrower shall be liable liable, on a joint and several basis, for any such deficiency.

Appears in 3 contracts

Samples: Loan and Security Agreement (Virtuix Holdings Inc.), Loan and Security Agreement (Digital Caddies, Inc.), Loan and Security Agreement (Bacterin International Holdings, Inc.)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the ObligationsIndebtedness, plus all other sums required to be expended or distributed by Lender, then Borrower Debtor shall be liable for any such deficiency.

Appears in 3 contracts

Samples: Security Agreement (Digital Generation Systems Inc), Security Agreement (Comps Com Inc), Loan Agreement (Digital Generation Systems Inc)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by LenderAgent to Lenders, then Borrower shall be liable for any such deficiency.

Appears in 2 contracts

Samples: Loan and Security Agreement (Beyond Air, Inc.), Loan and Security Agreement (Benson Hill, Inc.)

AutoNDA by SimpleDocs

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then Borrower and each Guarantor shall be liable for any such deficiency.

Appears in 2 contracts

Samples: Loan and Security Agreement (Delcath Systems, Inc.), Loan and Security Agreement (Cytocom, Inc.)

Deficiency. If In the Proceeds event that the proceeds of any disposition sale of, collection from, or other realization upon, all or any part of the Collateral by Lender are insufficient to cover pay all costs and expenses of such sale and the payment in full of all the Obligationsamounts to which Lender is legally entitled, plus all other sums required to be expended or distributed by Lender, then Borrower each Debtor (unless otherwise provided) shall be liable for any such the deficiency, together with interest thereon as provided in the Loan Documents.

Appears in 1 contract

Samples: Pledge and Security Agreement (United eSystems, Inc.)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the ObligationsIndebtedness, plus all other sums required to be expended or distributed by LenderBank, then Borrower Debtor shall be liable for any such deficiency.

Appears in 1 contract

Samples: Security Agreement (Emcon)

Deficiency. If In the Proceeds event that the proceeds of any disposition sale of, collection from, or other realization upon, all or any part of the Collateral by Lender are insufficient to cover pay all costs and expenses of such sale and the payment in full of all the Obligationsamounts to which Lender is legally entitled, plus all other sums required to be expended or distributed by Lender, then Borrower shall be liable for any such the deficiency, together with interest thereon as provided in the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Vertical Capital Income Fund)

Deficiency. If the Proceeds of any disposition of the Collateral are insufficient to cover all costs and expenses of such sale and the payment in full of all the Obligations, plus all other sums required to be expended or distributed by Lender, then each Borrower shall be liable for any such deficiency.

Appears in 1 contract

Samples: Loan and Security Agreement (Oculus Innovative Sciences, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.