Common use of Proceeds of Dispositions; Expenses Clause in Contracts

Proceeds of Dispositions; Expenses. The Pledgor shall pay to the Secured Party on demand any and all reasonable expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by the Secured Party in protecting, preserving or enforcing the Secured Party’s rights under or in respect of this Agreement, any of the Secured Obligations or any of the Collateral. After deducting such expenses, the residue of any proceeds of collection or sale of the Secured Obligations or Collateral shall, to the extent actually received in cash, be applied to the payment of the Secured Obligations in such order or preference as the Secured Party may determine, proper allowance and provision being made for any Secured Obligations not then due. Upon the final payment and satisfaction in full of all of the Secured Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the UCC, any excess shall be returned to the Pledgor, and the Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.

Appears in 2 contracts

Samples: Investment Agreement (Management Network Group Inc), Security Agreement (Management Network Group, Inc.)

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Proceeds of Dispositions; Expenses. The Pledgor shall Pledgors, jointly and severally, agree to pay to the Secured Party Parties on demand any and all reasonable expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by the Secured Party Parties in protecting, preserving or enforcing the Secured Party’s Parties’ rights and remedies under or in respect of this Agreement, any of the Secured Obligations or any of the Collateral. After deducting such all of said expenses, the residue of any proceeds of collection or sale or other disposition of the Secured Obligations or Collateral shall, to the extent actually received in cash, be applied to the payment of the Secured Obligations in such order or preference as the Secured Party Parties may determine, proper allowance and provision being made for any Secured Obligations not then due. Upon the final payment and satisfaction in full of all of the Secured Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the UCC, any excess shall be returned to the PledgorPledgors. In the absence of final payment and satisfaction in full of all of the Obligations, and the Pledgor Pledgors shall remain liable for any deficiency in the payment of the Secured Obligationsdeficiency.

Appears in 2 contracts

Samples: Security Agreement (Perlman Richard E), Security Agreement (RS Properties I LLC)

Proceeds of Dispositions; Expenses. The Pledgor shall pay to the Secured Party Parties on demand any and all reasonable expenses, including reasonable attorneys’ fees and disbursements, incurred or paid by the Secured Party Parties in protecting, preserving or enforcing the Secured Party’s Parties’ rights under or in respect of this Agreement, any of the Secured Obligations or any of the Collateral. After deducting such all of said expenses, the residue of any proceeds of collection or sale of the Secured Obligations or Collateral shall, to the extent actually received in cash, be applied to the payment of the Secured Obligations in such order or preference as the Secured Party Parties may determine, proper allowance and provision being made for any Secured Obligations not then due. Upon the final payment and satisfaction in full of all of the Secured Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the UCC, any excess shall be returned to the Pledgor, and the Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.

Appears in 1 contract

Samples: Pledge and Security Agreement (Car Charging Group, Inc.)

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

Appears in 1 contract

Samples: Security Agreement (Verso Technologies Inc)

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Proceeds of Dispositions; Expenses. The Pledgor shall Pledgors, jointly and severally, agree to pay to the Secured Party Parties on demand any and all reasonable expenses, including reasonable attorneys' fees and disbursements, incurred or paid by the Secured Party Parties in protecting, preserving or enforcing the Secured Party’s Parties' rights and remedies under or in respect of this Agreement, any of the Secured Obligations or any of the Collateral. After deducting such all of said expenses, the residue of any proceeds of collection or sale or other disposition of the Secured Obligations or Collateral shall, to the extent actually received in cash, be applied to the payment of the Secured Obligations in such order or preference as the Secured Party Parties may determine, proper allowance and provision being made for any Secured Obligations not then due. Upon the final payment and satisfaction in full of all of the Secured Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the UCC, any excess shall be returned to the PledgorPledgors. In the absence of final payment and satisfaction in full of all of the Obligations, and the Pledgor Pledgors shall remain liable for any deficiency in the payment of the Secured Obligationsdeficiency.

Appears in 1 contract

Samples: Security Agreement (Kronos Advanced Technologies Inc)

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

Appears in 1 contract

Samples: Security Agreement (Axion International Holdings, Inc.)

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