Proceeds of Realization. (1) The Collateral Agent will apply any proceeds of realization of the Collateral in accordance with Section 6(g) of the Note. If there is any surplus remaining, the Collateral Agent may pay it to any person entitled thereto by Applicable Law of whom the Collateral Agent has knowledge and any balance remaining may be paid to the Debtors. If the realization of the Collateral fails to satisfy the Obligations, the Debtors will be liable to pay any deficiency to the Collateral Agent.
Appears in 2 contracts
Sources: Canadian General Security Agreement (Li-Cycle Holdings Corp.), Canadian General Security Agreement (Li-Cycle Holdings Corp.)