Examples of Income and Proceeds in a sentence
At Lender’s option, Lender may apply any cash, whether included in the Collateral or received as Income and Proceeds or through liquidation, sale, or retirement, of the Collateral, to the satisfaction of the Indebtedness or such portion thereof as Lender shall choose, whether or not matured.
Grantor agrees to deliver to Lender immediately upon receipt, in the exact form received and without commingling with other property, all Income and Proceeds from the Collateral which may be received by, paid, or delivered to Grantor or for Grantor’s account, whether as an addition to, in discharge of, in substitution of, or in exchange for any of the Collateral.
From and after the occurrence of an Event of Default, Lender may receive all Income and Proceeds and add it to the Collateral.
If Pledgor receives any Income and Proceeds from the Collateral, and if Bank requires Pledgor to do so, Pledgor immediately will advise Bank.
If Bank requests, Pledgor will deliver the Income and Proceeds to Bank immediately upon Pledgor’s receipt in the exact form received.