Common use of Preference Payment Clause in Contracts

Preference Payment. Any monies Lender pays because of an asserted preference claim in any bankruptcy of Borrower or Grantor will become a part of the Indebtedness and, at Lender's option, shall be payable by Grantor as provided above in the "EXPENDITURES BY LENDER" paragraph.

Appears in 2 contracts

Sources: Business Loan Agreement (Niku Corp), Business Loan Agreement (Niku Corp)