Application of Proceeds of Collateral. Notwithstanding anything to the contrary set forth in any Loan Document, after an Event of Default, the proceeds of any of the Collateral, together with any offsets, voluntary payments, and any other sums received or collected in respect of the Indebtedness, may be applied in such order and manner as determined by Bank in its sole and absolute discretion.
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Samples: Credit Agreement (Copano Energy, L.L.C.), Credit Agreement (Copano Energy, L.L.C.), Credit Agreement (Peerless Manufacturing Co)
Application of Proceeds of Collateral. Notwithstanding anything to the contrary set forth in any Loan Document, after during the continuance of an Event of Default, the proceeds of any of the Collateral, together with any offsets, voluntary payments, and any other sums received or collected in respect of the Indebtedness, may be applied in such order and manner as determined by Bank in its sole and absolute discretion.
Appears in 4 contracts
Samples: Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc)
Application of Proceeds of Collateral. Notwithstanding anything to the contrary set forth in any Loan Document, after an Event of Default, the proceeds of any of the Collateral, together with any offsets, voluntary payments, and any other sums received or collected in respect of the Indebtedness, may be applied in such order and manner as determined by Bank Agent in its sole and absolute discretion.
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Application of Proceeds of Collateral. Notwithstanding anything to the contrary set forth in any Loan Document, after an Event of Default, the proceeds of any of the Collateral, together with any offsets, voluntary payments, and any other sums received or collected in respect of the Indebtedness, may be applied towards the Indebtedness in such order and manner as determined by Bank Lender in its sole and absolute discretion.
Appears in 1 contract
Samples: Loan Agreement (SMG Industries Inc.)
Application of Proceeds of Collateral. Notwithstanding anything to ------------------------------------- the contrary set forth in this Agreement or any other Loan Document, after an Event of Default, the proceeds of any of the Collateral, together with any offsets, voluntary payments, payments by Company or any Subsidiary or others and any other sums received or collected in respect of the Indebtedness, may shall be applied in such order and manner as determined by Bank in its sole and absolute discretion.follows:
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