Common use of Payment Delivery Clause in Contracts

Payment Delivery. Any check, draft, money order or other instrument given in payment of all or any portion hereof may be accepted by the Holder and handled in collection in the customary manner, but the same shall not constitute payment hereunder or diminish any rights of the Holder except to the extent that actual cash proceeds of such instrument are unconditionally received by the Holder.

Appears in 3 contracts

Sources: Senior Secured Promissory Note (Fischer Imaging Corp), Senior Secured Promissory Note (Fischer Imaging Corp), Senior Secured Promissory Note (Fischer Imaging Corp)