Common use of Proceeds of Dispositions; Expenses Clause in Contracts

Proceeds of Dispositions; Expenses. The Borrower shall pay to the Operations Agent on demand any and all reasonable expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by the Operations Agent in protecting, preserving or enforcing the Operations Agent’s rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Borrower. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower shall remain liable for any deficiency.

Appears in 3 contracts

Samples: Security Agreement (Baron Select Funds), Amended and Restated Security Agreement (Baron Select Funds), Security Agreement (Baron Select Funds)

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Proceeds of Dispositions; Expenses. The Borrower Each Company shall pay to the Operations Administrative Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Administrative Agent in protecting, preserving or enforcing the Operations Administrative Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerCompanies. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower each Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Us Xpress Enterprises Inc)

Proceeds of Dispositions; Expenses. The Borrower Company shall pay to the Operations Agent ---------------------------------- Lender on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Agent Lender in protecting, preserving or enforcing the Operations Agent’s Lender's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Loan Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerCompany. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Constellation 3d Inc)

Proceeds of Dispositions; Expenses. The Borrower shall Companies jointly and severally agree to pay to the Operations Administrative Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Administrative Agent in protecting, preserving or enforcing the Operations Administrative Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Borrowerapplicable Company. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower each Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Blue Steel Capital Corp)

Proceeds of Dispositions; Expenses. The Borrower Each Company shall pay to the Operations Agent Investor on demand any and all reasonable expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by the Operations Agent Investor in protecting, preserving or enforcing the Operations AgentInvestor’s rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Investor may determine or in such order or preference as is provided in the Credit Facilities Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-9- 608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerCompanies. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Companies shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Emtec Inc/Nj)

Proceeds of Dispositions; Expenses. The Borrower Assignors shall pay to the Operations Administrative Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Administrative Agent in protecting, preserving or enforcing the Operations Administrative Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale of the Obligations or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as the Lender may determine OR in such order or preference as is provided in the Credit Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections Section 9-608(a)(1)(C) or 9-615(a)(3504(1)(c) of the Uniform Commercial Code of the StateCode, any excess shall be returned to the Borrower. In Assignors, and the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Assignors shall remain liable for any deficiencydeficiency in the payment of the Obligations.

Appears in 1 contract

Samples: Security Agreement (Wichita Manufacturing Inc)

Proceeds of Dispositions; Expenses. The Borrower Company shall pay to the Operations Agent Lender on demand any and all reasonable and documented expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Agent Lender in protecting, preserving or enforcing the Operations Agent’s Lender's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit AgreementLender may determine, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerCompany. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Aspect Medical Systems Inc)

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Proceeds of Dispositions; Expenses. The Borrower Each Obligor shall pay to the Operations Collateral Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Collateral Agent in protecting, preserving or enforcing the Operations Collateral Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Intercreditor Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerObligors. In the absence of final payment and satisfaction in full of all of the Obligations, each of the Borrower Obligors shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (Castle a M & Co)

Proceeds of Dispositions; Expenses. The Borrower Company shall pay to the Operations Agent Lenders on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, reasonably incurred or paid by the Operations Agent Lenders in protecting, preserving or enforcing the Operations Agent’s their rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale of the Obligations or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as Lenders may determine or in such order or preference as is provided in the Credit AgreementNotes, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the Borrower. In Company, and the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Company shall remain liable for any deficiencydeficiency in the payment of the Obligations.

Appears in 1 contract

Samples: Security Agreement (AdvanSource Biomaterials Corp)

Proceeds of Dispositions; Expenses. The Borrower Company shall pay to the Operations Collateral Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Collateral Agent in protecting, preserving or enforcing the Operations Collateral Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of the Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Note Purchase Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerCompany. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower Company shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (PAV Republic, Inc.)

Proceeds of Dispositions; Expenses. The Borrower Each Grantor shall pay to the Operations Collateral Agent on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Operations Collateral Agent in protecting, preserving or enforcing the Operations Collateral Agent’s 's rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the Credit Purchase Agreement, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess shall be returned to the BorrowerGrantors. In the absence of final payment and satisfaction in full of all of the Obligations, the Borrower each Grantor shall remain liable for any deficiency.

Appears in 1 contract

Samples: Security Agreement (National Investment Managers Inc.)

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