Common use of Obtain Deficiency Clause in Contracts

Obtain Deficiency. If the Collateral Agent chooses to sell any or all of the Collateral and/or pursue any other remedy available hereunder, under any other agreement, at law or in equity, the Collateral Agent may obtain a judgment against the Debtors for any deficiency remaining on the Indebtedness due to the Secured Parties after application of all amounts received from the exercise of the rights provided in this Security Agreement. The Debtors shall be liable for a deficiency even if the transaction described in this Subsection is a sale of accounts or chattel paper.

Appears in 9 contracts

Samples: Security Agreement (Illinois Superconductor Corporation), Security Agreement (Isco International Inc), Security Agreement (Illinois Superconductor Corporation)

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Obtain Deficiency. If the Collateral Agent chooses to sell any or all of the Collateral and/or pursue any other remedy available hereunder, under any other agreement, at law or in equityCollateral, the Collateral Agent may obtain a judgment against the Debtors Obligors for any deficiency remaining on the Indebtedness due to the Secured Parties Lenders after application of all amounts received from the exercise of the rights provided in this Security Agreement. The Debtors Obligors shall be liable for a deficiency even if the transaction described in this Subsection is a sale of accounts or chattel paper.

Appears in 1 contract

Samples: Security Agreement (Appliedtheory Corp)

Obtain Deficiency. If the Collateral Agent chooses to sell any or all of the Collateral and/or pursue any other remedy available hereunder, under any other agreement, at law or in equity, the Collateral Agent may obtain a judgment against the Debtors Debtor for any deficiency remaining on the Indebtedness due to the Secured Parties after application of all amounts received from the exercise of the rights provided in this Security Agreement. The Debtors Debtor shall be liable for a deficiency even if the transaction described in this Subsection is a sale of accounts or chattel paper.

Appears in 1 contract

Samples: Security Agreement (General Magic Inc)

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Obtain Deficiency. If the Collateral Agent chooses to sell any or all of the Collateral and/or pursue any other remedy available hereunder, under any other agreement, at law or in equity, the Collateral Agent may obtain a judgment against the Debtors for any deficiency remaining on the Indebtedness due to the Secured Parties Party after application of all amounts received from the exercise of the rights provided in this Security Agreement. The Debtors shall be liable for a deficiency even if the transaction described in this Subsection is a sale of accounts or chattel paper.

Appears in 1 contract

Samples: Security Agreement (Star Scientific Inc)

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