INCOME FROM AND INTEREST ON COLLATERAL. 7.1 Until the occurrence of an Event of Default (as defined in Section 10.1), the Guarantor reserves the right to receive any money constituting income from or interest on the Collateral and if the Secured Party receives any such money before the occurrence of an Event of Default, the Secured Party shall either credit the amount of such money against the Obligations or pay the amount of such money promptly to the Guarantor.
Appears in 3 contracts
Samples: General Security Agreement (Liquid Media Group Ltd.), Purchase Agreement (Trident Brands Inc), Purchase Agreement (Trident Brands Inc)
INCOME FROM AND INTEREST ON COLLATERAL. 7.1 Until the occurrence of an Event of Default (as defined in Section 10.1)Default, the Guarantor reserves the right to receive any money constituting income from or interest on the Collateral and if the Secured Party receives any such money before the occurrence of an Event of Default, the Secured Party shall either credit the amount of such that money against the Obligations or pay the amount of such money it promptly to the Guarantor.
Appears in 1 contract
Samples: Eneral Security Agreement (Lithium Exploration Group, Inc.)
