DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Shareholders shall accept same in trust for the Lender and shall deliver same to the Lender to be applied to the Obligations then due, in accordance with the terms of the Note.
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Samples: Security Agreement (Go Online Networks Corp), Security Agreement (Conectisys Corp), Security Agreement (Conectisys Corp)
DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Debtor and Shareholders shall accept same in trust for the Lender Lenders and shall deliver same to the Lender Collateral Agent to be applied to the Obligations then due, in accordance with the terms of the NoteNotes.
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DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, the Shareholders shall accept same in trust for the Lender Investor and shall deliver same to the Lender Investor to be applied to the Obligations then due, in accordance with the terms of the Note.
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DISTRIBUTION ON LIQUIDATION. 5.1 If any sum is paid as a liquidating distribution on or with respect to the Collateral, Shareholders Shareholder shall accept same in trust for the Lender and shall deliver same to the Lender to be applied to the Obligations then due, in accordance with the terms of the Note.
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, Shareholders The Shareholder shall accept same in trust for the Lender and shall deliver same to the Lender Collateral Agent to be applied to the Obligations then due, in accordance with the terms of the Note.
Appears in 1 contract
Samples: Security Agreement (Armitec Inc)
