Purchase Money Security Interests. To the extent any Grantor uses the proceeds of any of the Secured Obligations to purchase Collateral, such Grantor’s repayment of the Secured Obligations shall apply on a “first-in, first-out” basis so that the portion of the Secured Obligations used to purchase a particular item of Collateral shall be paid in the chronological order in which such Grantor purchased the Collateral.
Appears in 4 contracts
Samples: Security Agreement (Adma Biologics, Inc.), Amended and Restated Security Agreement (Menlo Therapeutics Inc.), Security Agreement (Foamix Pharmaceuticals Ltd.)
Purchase Money Security Interests. To the extent any Grantor uses the proceeds of any of the Secured Obligations are used to purchase Collateral, such Grantor’s repayment of the Secured Obligations Loan shall apply on a “first-in, -first-out” basis so that the portion of the Secured Obligations used to purchase a particular item of Collateral shall be paid in the chronological order in which such the Grantor purchased the Collateral.
Appears in 2 contracts
Samples: Credit Agreement (St Joe Co), Credit Agreement (St Joe Co)
Purchase Money Security Interests. To the extent any Grantor uses the proceeds of any of the Secured Obligations to purchase Collateral, such Grantor’s repayment of the Secured Obligations shall apply on a “first-in, first-out” basis so that the portion of the Secured Obligations used to purchase a particular item of Collateral shall be paid in the chronological order in which such Grantor purchased the Collateral.
Appears in 2 contracts
Samples: Security Agreement (Pacer International Inc), Amended and Restated Security Agreement (Pacer International Inc)
Purchase Money Security Interests. To the extent any Grantor uses the proceeds of any of the Secured Obligations to purchase Collateral, the Administrative Agent may apply such Grantor’s repayment of the Secured Obligations shall apply on a “first-in, first-out” basis so that the portion of the Secured Obligations used to purchase a particular item of Collateral shall be paid in the chronological order in which such Grantor purchased the Collateral.
Appears in 1 contract
Samples: Credit Agreement (Cnet Networks Inc)
