Document ID: chunk:federal_register_of_legislation:C2024C00719:section:127:p2
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 127 (pt 2/2)
Character Range: 228794–229818

party incurred the amount.
 (8) The amount payable under subsection (6) is the lesser of the following amounts:
 (a) the amount mentioned in the subsection;
 (b) the amount of any proceeds from the higher priority party's disposal of the collateral.
 (9) A higher priority party must pay an amount of expenses under subsection (6) before the end of 20 business days after the later of the following days:
 (a) the day the higher priority party disposes of the collateral;
 (b) the day the enforcing party gives the higher priority party evidence showing that the enforcing party incurred the amount.
Note: The period may be extended by a court under section 293.
 (10) The amount under subsection (6) is a debt due to the enforcing party.
 (11) The enforcing party may apply to a court to recover the amount of the debt, and the court may grant the application.
Note: For which courts have jurisdiction, and for transfers between courts, see Part 6.2.

Division 3—Disposing of collateral (including by purchasing collateral)