Common use of Sale or Other Disposition of Collateral by the Agent Clause in Contracts

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mails, postage prepaid and duly addressed to the Borrower at the address specified in subsection 10.13, at least ten (10) days prior to such proposed action, shall constitute fair and reasonable notice to the Borrower of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the Obligations. The Agent shall account to the Borrower for any surplus realized upon such sale or other disposition, and the Borrower shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Agent's Liens on the Collateral until the Obligations are fully paid (other than unasserted contingent indemnification obligations).

Appears in 1 contract

Samples: Loan and Security Agreement (Plainwell Inc)

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Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mails, postage prepaid and duly addressed given to the Borrower at the address Representative as specified in subsection 10.1310.12, at least ten (10) days prior to such proposed action, shall constitute fair and reasonable notice to the Borrower Borrowers of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the Obligations. The Agent shall account to the Borrower Borrowers for any surplus realized upon such sale or other disposition, and the Borrower Borrowers shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Agent's Liens on the Collateral until the Obligations are fully paid (other than unasserted contingent indemnification obligations)paid.

Appears in 1 contract

Samples: Loan and Security Agreement (Lois/Usa Inc)

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mailsmail, postage prepaid and duly addressed to the Borrower at the address specified in subsection 10.13Section 10.19, at least ten (10) business days prior to such proposed action, shall constitute fair and commercially reasonable notice to the Borrower of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses expense of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral like, and the reasonable legal fees and expenses and other proper fees and expenses incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the ObligationsLiabilities. The Agent shall account to the Borrower for any surplus realized upon such sale or other disposition, and the Borrower shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency deficiency, shall not affect the Agent's Liens on ’s security interest in the Collateral until the Obligations are fully Liabilities shall have been paid (other than unasserted contingent indemnification obligations)in full.

Appears in 1 contract

Samples: Loan and Security Agreement (Premium Standard Farms, Inc.)

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mailsmail, postage prepaid and duly addressed to the Borrower at the address specified in subsection 10.13Section 10.19, at least ten (10) business days prior to such proposed action, shall constitute fair and commercially reasonable notice to the Borrower of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses expense of retaking, holding, storing, transporting, preparing for sale, May 27, 2004 selling or otherwise disposing of the Collateral like, and the reasonable legal fees and expenses and other proper fees and expenses incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the ObligationsLiabilities. The Agent shall account to the Borrower for any surplus realized upon such sale or other disposition, and the Borrower shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency deficiency, shall not affect the Agent's Liens on ’s security interest in the Collateral until the Obligations are fully Liabilities shall have been paid (other than unasserted contingent indemnification obligations)in full.

Appears in 1 contract

Samples: Loan and Security Agreement (PSF Group Holdings Inc)

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mails, postage prepaid and duly addressed given to the Borrower at the address as specified in subsection 10.1310.12, at least ten (10) days prior to such proposed action, shall constitute fair and reasonable notice to the Borrower of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the Obligations. The Agent shall account to the Borrower for any surplus realized upon such sale or other disposition, and the Borrower shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Agent's Liens on the Collateral until the Obligations are fully paid (other than unasserted contingent indemnification obligations).paid. 9.5

Appears in 1 contract

Samples: Loan and Security Agreement (Telular Corp)

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Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mailsmail, postage prepaid and duly addressed to the Borrower at the address specified in subsection 10.13Section 5.16, at least ten (10) days Business Days prior to such proposed action, shall constitute fair and commercially reasonable notice to the Borrower of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses expense of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral like, and the reasonable legal fees and expenses and other proper fees and expenses incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the Obligations. The Agent shall account to the Borrower for any surplus realized upon such sale or other disposition, and the Borrower shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency deficiency, shall not affect the Agent's Liens on ’s security interest in the Collateral until the Obligations are fully shall have been paid (other than unasserted contingent indemnification obligations)in full.

Appears in 1 contract

Samples: Security Agreement (Sanfilippo John B & Son Inc)

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mails, postage prepaid and duly addressed given to the Borrower at the address Representative as specified in subsection 10.13SUBSECTION 10.12, at least ten (10) days prior to such proposed action, shall constitute fair and reasonable notice to the Borrower Borrowers of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the Obligations. The Agent shall account to the Borrower Borrowers for any surplus realized upon such sale or other disposition, and the Borrower Borrowers shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Agent's Liens on the Collateral until the Obligations are fully paid (other than unasserted contingent indemnification obligations)paid.

Appears in 1 contract

Samples: Loan and Security Agreement (Lois/Usa Inc)

Sale or Other Disposition of Collateral by the Agent. Any notice required to be given by the Agent of a sale, lease or other disposition or other intended action by the 88 97 Agent with respect to any of the Collateral which is deposited in the United States mails, postage prepaid and duly addressed given to the Borrower at the address Representative as specified in subsection 10.13SUBSECTION 10.12, at least ten (10) days prior to such proposed action, shall constitute fair and reasonable notice to the Borrower Borrowers of any such action. The net proceeds realized by the Agent upon any such sale or other disposition, after deduction for the expenses of retaking, holding, storing, transporting, preparing for sale, selling or otherwise disposing of the Collateral incurred by the Agent in connection therewith, shall be applied as provided herein toward satisfaction of the ObligationsObligations in such manner as the Agent may deem advisable. The Agent shall account to the Borrower Borrowers for any surplus realized upon such sale or other disposition, and the Borrower Borrowers shall remain liable for any deficiency. The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Agent's Liens on the Collateral until the Obligations are fully paid (other than unasserted contingent indemnification obligations)paid.

Appears in 1 contract

Samples: Loan and Security Agreement (Lois/Usa Inc)

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