80005053 - Laserfiche WebLink

Browse

80~..~~5Q53 ~2 valid as against the Company and its other creditors, except any such- redtzeLion resulting from the receipt or disposition of any property described in clause {$} of this subparagraph (lj, ar from the. exercise of any right of set-off which such Trustee could have exercised i€ a petition in bankruptcy had been filed by or against the Company upvn the date of such default; and {B} a[i pmperty receiF-ed by such Trustee in respect of any claim as sur..h rreditvr, either as security therefor, or in sxtisfaet.ion or composition thereof, or otherwise, after the beginning of such four manths' periad, or an stmonnt. etlual io the proceeds of any such praperty, if disposed of, sazbjeei, hora~cer, to the rights, if any, of the Company and its other creditors in .uch property ar such proceeds. {?j \othing in this paragraph (a) contained. hvwever shall afTect the right of either Trustee (1) to retain for its own account (i) payments made on accannt of any such claim by an_y person tither than the Company} evho is liable thereon, and (ii 1 the proceeds of the bona fide ;ale of any such ctaim by the Trustee to a third person, and (iii} distributions made in cash, securities or other propertc in respe~~t cat claims filed against the Company in bankruptcy or receivership or in proceedings for reorganization pursuant. to Title 11 of the C~nited States ('ode or ap- plicable Stets law; ;B} to realize, for its awn account, upon and property held b~ it. as ;ecurity €or any :uch claim if such prapert} eves sa Held briar to the beginning of such faur manths' ph;riod: tC} to realize, for its own account, but only to the extent of the claim hereinafter mentioned, upon any property held by it ss ~curite far any such zlsim, if ;uch claint a-as created after the beginning of such faur months' period and such property eve. reeeired as security therefor simultaneously with the creation thereof, and if such Trustee shall sustain the burden of praying that. at the time such property was so receicerl such "1•rustrta had nv reasonable cause to believe that a delxult as dettnetl in paragraph icl of this Suction 1 i.t)3 would otYUr within €aur manths; or t Ll} to rtY•eive ;myment on any claim referred ut in clause llii ar iC) of thk subparagraph {2), against the telease of any lrropet•ty held :as seeurits° for stx,h clxin as provided in claua~ (B} yr tC}. as the case may be, to the ext+rnt of the Lair value of such property. Fir the put•l>vtses of claw %~), (C) an41 (IU} of thi, subparagraph t2}, property substituted after the beginning of such fvttr months' period for L_..