DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 23 contracts
Samples: Security Agreement (BioElectronics Corp), Security Agreement (Medical Exchange Inc.), Security Agreement (Energy & Engine Technology Corp)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor Shareholders shall accept same in trust for the Lenders and shall deliver same to the Collateral Agent to be applied to the Obligations, Obligations then due, in accordance with the terms of the Convertible Notes.
Appears in 7 contracts
Samples: Security Agreement (Global Developments Inc.), Security Agreement (New World Entertainment Corp.), Security Agreement (Science Dynamics Corp)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, Obligations then due, in accordance with the terms of the Convertible Notes.
Appears in 5 contracts
Samples: Collateral Agent Agreement (Select Media Communications Inc), Security Agreement (Team Communications Group Inc), Security Agreement (Advanced Aerodynamics & Structures Inc/)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent Lender to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 4 contracts
Samples: Security Agreement (Addison Davis Diagnostics), Security Agreement (Addison Davis Diagnostics), Security and Pledge Agreement (Universal Communication Systems Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor Trend shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 2 contracts
Samples: Security and Pledge Agreement (Trend Mining Co), Security and Pledge Agreement (Trend Mining Co)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall accept same in trust for the Lenders and shall deliver same to the Collateral Agent to be applied to the Obligations, Obligations then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
Samples: Security Agreement (Liquidix Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent Lender to be applied to the Obligations, Obligations then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
Samples: Security Agreement (Vizario Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor BlastGard shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
Samples: Security and Pledge Agreement (Blastgard International Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, then duedue and unpaid, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor Diametrics shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
Samples: Security and Pledge Agreement (Diametrics Medical Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 6.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, Obligations then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor 5G shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
DISTRIBUTION ON LIQUIDATION. 5.1 5.1. If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
Samples: Security Agreement (Voip Inc)
DISTRIBUTION ON LIQUIDATION. 5.1 (a) If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor shall deliver same to the Collateral Agent to be applied to the Obligations, then due, in accordance with the terms of the Convertible Notes.
Appears in 1 contract
