Common use of Creditor Proceedings Clause in Contracts

Creditor Proceedings. Commencement of foreclosure, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower against any collateral securing the Loans. This includes a garnishment, attachment or levy on or of any of any deposit accounts of Borrower that are maintained with Lender.

Appears in 1 contract

Sources: Credit and Reimbursement Agreement (Alliance Medical Corp)

Creditor Proceedings. Commencement of foreclosure, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Borrower Grantor or by any governmental agency against the Collateral or any other collateral securing the LoansIndebtedness. This includes a garnishment, attachment or levy on or garnishment of any of any Grantor's deposit accounts of Borrower that are maintained with Lender.

Appears in 1 contract

Sources: Commercial Security Agreement (Techdyne Inc)