Common use of After an Event of Default Clause in Contracts

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding has been reduced to zero); and fifth, to pay to Buyer all other Repurchase Obligations due to Buyer.

After an Event of Default. If either an Event of Default has occurred exists and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02remains uncured, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Waterfall Account Bank, on the second Business Day next following the Business Day date on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding such Purchase Price has been reduced to zero); fifth, to pay to Interim Servicer, amounts due and fifthpayable under the Servicing Agreement; sixth, to pay to Buyer all other Repurchase Obligations due to Buyer; and seventh, if all of the Repurchase Obligations have been fully repaid, to pay to Seller any remainder for its own account, subject, however, to the covenants and other requirements of the Repurchase Documents.

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth ninth in Section 5.02, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding has been reduced to zero); and fifth, to pay to Buyer all other Repurchase Obligations due to Buyer.

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02exists, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, Bank on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding such Repurchase Price has been reduced to zero); and (ii) to pay to any Affiliated Hedge Counterparty an amount equal to all termination payments payable with respect to each related Interest Rate Protection Agreement; fifth, to pay to Buyer all other Repurchase Obligations due to Buyer; and sixth, to pay to Seller any remainder for its own account.

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the remaining aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding has been reduced to zero); and fifth, to pay to Buyer all other Repurchase Obligations due to Buyer; and sixth, to pay to Seller any remainder for its own account; provided, that if Buyer has exercised the remedies described in Section 10.02(d)(ii) with respect to any or all Purchased Assets, Seller shall not be entitled to any proceeds from any eventual sale of such Purchased Assets.

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02exists, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing AgreementAgreement (and with respect to base monthly servicing fees, to the extent not previously retained by Servicer and paid pursuant to Sections 5.01 or 5.02); fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets Aggregate Amount Outstanding (to be applied in such order and in such amounts as determined by Buyer, until the such Aggregate Amount Outstanding has been reduced to zero); and (ii) to pay to any Affiliated Hedge Counterparty an amount equal to all termination payments payable with respect to each related Interest Rate Protection Agreement; and fifth, to pay to Buyer all other Repurchase Obligations due to Buyer.

After an Event of Default. If either an Event of Default has occurred and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, (i) to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding has been reduced to zero); and (ii) to pay to any Affiliated Hedge Counterparty an amount equal to all termination payments payable with respect to each related Interest Rate Protection Agreement; and fifth, to pay to Buyer all other Repurchase Obligations due to Buyer.

After an Event of Default. If either an Event of Default has occurred exists and is continuing, or if Buyer is required to do so pursuant to priority eighth in Section 5.02remains uncured, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Waterfall Account Bank, Buyer or a Person designated by Buyer pursuant to the related Controlled Account Agreement on the second Business Day next following the Business Day date on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from any Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding aggregate Repurchase Price of all Purchased Assets has been reduced to zero); fifth, to pay to Interim Servicer, amounts due and fifthpayable under the Servicing Agreement; sixth, to pay to Buyer all other Repurchase Obligations due to Buyer; and seventh, if all of the Repurchase Obligations have been fully repaid, to pay to the applicable Seller any remainder for its own account, subject, however, to the covenants and other requirements of the Repurchase Documents.