Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 7 contracts
Samples: Loan and Security Agreement (XZERES Corp.), Loan and Security Agreement (Emagin Corp), Loan and Security Agreement (Emagin Corp)
Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds Proceeds of Collateral, pay such proceeds Proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 7 contracts
Samples: Loan and Security Agreement (1847 Holdings LLC), Loan and Security Agreement (Youngevity International, Inc.), Loan and Security Agreement
Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 5 contracts
Samples: Loan and Security Agreement (Elio Motors, Inc.), Loan and Security Agreement (Valence Technology Inc), Loan and Security Agreement (Reeds Inc)
Payment of Proceeds. Borrower shall forthwith upon receipt of all any proceeds of Collateral, pay such proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender Agent may elect.
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Payment of Proceeds. Following and during the continuation of an Event of Default, Borrower shall forthwith upon receipt of all proceeds Proceeds of Collateral, pay such proceeds Proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 1 contract
