Common use of Foreclosure Sales Clause in Contracts

Foreclosure Sales. To the extent that any acting Agent shall hold a public or private foreclosure sale in respect of all or any of the Collateral, such acting Agent shall give written notice thereof to the other nonacting Agent not less than 10 Business Days prior to such sale. The holders of Hampshire Debt agree that each of them may attend and bid at any such public sale but may not pay for any such bid that is successful by applying all or any of the indebtedness then owing to such Person from any Hampshire Entity in whole or partial satisfaction of such successful bid other than the amount of cash proceeds that such Person would be entitled to receive from such sale as provided for hereunder and under the Bank Documents or the Noteholder Documents, as the case may be.