Common use of Deficiency Clause in Contracts

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 17 contracts

Samples: Pledge Agreement (Brookdale Senior Living Inc.), Credit Agreement (Dean Foods Co), Security and Pledge Agreement (Newport Corp)

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Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the ABR Default Rate, together with the costs of collection and the fees, charges and disbursements reasonable fees of counselany attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 7 contracts

Samples: Credit Agreement (Nci Building Systems Inc), Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Capitalsource Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors Pledgors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default RateRate for Base Rate Loans, together with the costs of collection and the fees, charges and disbursements of counselAttorney Costs. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Pledgors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: Pledge Agreement (Fti Consulting Inc), Pledge Agreement (Fti Consulting Inc), Pledge Agreement (Fti Consulting Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 23 hereof), together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counselAttorney Costs. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 3 contracts

Samples: Domestic Security Agreement (GFI Group Inc.), Domestic Security Agreement (GFI Group Inc.), Domestic Security Agreement (GFI Group Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 23 hereof), together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security Agreement (Amedisys Inc), Security Agreement (Amedisys Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counselcounsel as provided in the Loan Documents. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors Pledgors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default RateRate for Base Rate Loans, together with the costs of collection and the reasonable attorneys’ fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Pledgors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Pledge Agreement (Ict Group Inc), Pledge Agreement (Ict Group Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the reasonable fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security and Pledge Agreement (I3 Verticals, Inc.), Security and Pledge Agreement (I3 Verticals, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements reasonable fees of counselany attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Inamed Corp), Credit Agreement (Sierra Health Services Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Lydall Inc /De/), Security and Pledge Agreement (AeroVironment Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 23 hereof), together with interest thereon at the Default Rate, together with the costs of collection and the reasonable fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 2 contracts

Samples: Security Agreement (Kala Pharmaceuticals, Inc.), Security Agreement (Dermira, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 22 hereof), together with interest thereon at the Default Rate, together with the costs of collection and the reasonable attorneys' fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Credit Agreement (North American Pipe Corp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the reasonable, documented fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Natural Grocers by Vitamin Cottage, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, the Obligors Debtor shall be jointly and severally liable for the deficiency, together with daily interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements reasonable fees of counselany attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Debtor or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Zap)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.entitled

Appears in 1 contract

Samples: Security and Pledge Agreement (Acadia Healthcare Company, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, the Obligors Obligor shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, default rate specified in Section 2.4 of the Term Loan Agreement together with the costs of collection and the fees, charges and disbursements reasonable fees of counselany attorneys employed by the Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Obligor or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infocrossing Inc)

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Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, the Obligors Debtors shall be jointly and severally liable for the deficiency, together with daily interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements reasonable fees of counselany attorneys employed by the Administrative Agent to collect such deficiency. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Debtors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Zap)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Ciber Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent Collateral Trustee or the holders of the Parity Lien Secured Obligations Parties are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Parity Lien Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Collateral Trust Agreement (Calumet Specialty Products Partners, L.P.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, or entitled to hereunder or under any other Loan Document, the Obligors Grantors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Abovenet Inc)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent Lender or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Omega Protein Corp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Parties are legally entitled, the Obligors Grantors shall be jointly and severally liable for the deficiencydeficiency (subject to Section 22 hereof), together with interest thereon at the Default Rate, together with the costs of collection and the reasonable fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (RedHill Biopharma Ltd.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent Seller or the holders of the Secured Obligations Parties are legally entitled, the Obligors Makers shall be jointly and severally liable for the deficiencydeficiency (subject to Sections 9.1 and 9.2 of the Note), together with interest thereon at the Default Rate, together with the costs of collection and the attorneys’ fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Makers or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security Agreement (Medcath Corp)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations are legally entitled, the Obligors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the reasonable costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (PRGX Global, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the Secured Obligations Lenders are legally entitled, or entitled to hereunder or under any other Financing Document, the Obligors Grantors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Pledge Agreement (Pernix Therapeutics Holdings, Inc.)

Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the holders of the other Secured Obligations Parties are legally entitled, the Obligors Debtors shall be jointly and severally liable for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and the fees, charges and disbursements of counselcounsel as provided in the Loan Documents. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Obligors Debtors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

Appears in 1 contract

Samples: Security and Guaranty Agreement (FXCM Inc.)

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