Foreclosure of Collateral. In the event of a foreclosure of any Collateral, Agent may issue a credit bid for the account of all Lenders, up to the amount of the then outstanding Obligations. Any Property acquired at such a foreclosure (or acquired by Agent through a conveyance in lieu of foreclosure) shall be held and administered by Agent for the benefit of all Lenders pursuant to the terms of this Article IX.
Appears in 6 contracts
Samples: Loan Agreement (Response Oncology Inc), Loan Agreement (Seafield Capital Corp), Loan Agreement (Response Oncology Inc)
Foreclosure of Collateral. In the event of a foreclosure of any Collateral, Agent may issue a credit bid for the account of all of the Lenders, up to the amount of the then outstanding ObligationsLoans. Any Property property acquired at such a foreclosure (or acquired by Agent through a conveyance in lieu of foreclosure) shall be held and administered by Agent for the benefit of all of the Lenders pursuant to the terms of this Article IXAgreement.
Appears in 1 contract
Samples: Intercreditor Agreement (American Consolidated Laboratories Inc)
Foreclosure of Collateral. In the event of a foreclosure of any Collateral, Agent may issue a credit bid for the account of all Lenders, up to the amount of the then outstanding Obligations, pursuant to the instructions of the Required Lenders. Any Property acquired at such a foreclosure (or acquired by Agent through a conveyance in lieu of foreclosure) shall be held and administered by Agent for the benefit of all Lenders pursuant to the terms of this Article IX.
Appears in 1 contract
