Post-Default Payment definition
Post-Default Payment means any payments, or proceeds of the Collateral, from the Borrower or any other source with respect to the Obligations, including without limitation from the exercise of any set-off, distributions received with respect to the Obligations in any Bankruptcy Proceeding or the proceeds from the sale of any Obligations to the Borrower or any Affiliate of the Borrower, which payments or proceeds are:
Post-Default Payment has the meaning assigned to such term in Section 3.08 of this Agreement.
Examples of Post-Default Payment in a sentence
Nothing in this Agreement is intended to or shall limit any Lender’s right to receive and retain regularly scheduled payments of principal and interest, when due, on any Obligation so long as such payment does not otherwise constitute a Post-Default Payment.