Common use of Preference Payments Clause in Contracts

Preference Payments. Any monies Lender pays because of an asserted preference claim in ▇▇▇▇▇▇▇▇'s bankruptcy will become a part of the Indebtedness and, at ▇▇▇▇▇▇'s option, shall be payable by Borrower as provided above in the "EXPENDITURES BY ▇▇▇▇▇▇" paragraph.

Appears in 4 contracts

Sources: Promissory Note (Web Press Corp), Commercial Security Agreement (Physio Control International Corp \De\), Commercial Security Agreement (Physio Control International Corp \De\)

Preference Payments. Any monies Lender pays because of an asserted preference claim in Bor▇▇▇▇▇▇▇▇'s '▇ bankruptcy will become a part of the Indebtedness and, at Len▇▇▇▇▇▇'s '▇ option, shall be payable by Borrower as provided above in the "EXPENDITURES BY ▇▇▇LEN▇▇▇" paragraph▇aragraph.

Appears in 1 contract

Sources: Business Loan Agreement (California Beach Restaurants Inc)