Allocation of Collateral Proceeds Sample Clauses

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligations. Proceeds from any realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans if any proceeds remain after the full and indefeasible payment of the Term Loan and Declining Revolving Credit Loans. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining ...
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Allocation of Collateral Proceeds. Upon the acceleration of the Secured Obligations, the proceeds of any collection, recovery, receipt, appropriation, realization or sale of any or all of the Collateral or the enforcement of any Security Document shall be applied in accordance with Section 3.06. Collateral Agency Agreement
Sample 1
Allocation of Collateral Proceeds. Upon the occurrence of --------------------------------- an Acceleration Event, the proceeds of any collection, recovery, receipt, appropriation, realization or sale of any or all of the Collateral or the enforcement of any Security Document ("Collateral Proceeds") shall be applied in ------------------- accordance with Article IV of the Collateral Agency Agreement. ----------
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Allocation of Collateral Proceeds. [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION. . Upon the acceleration of the Obligations and the instruction to the Collateral Agent in accordance with Section 2.02, the proceeds of any collection, recovery, receipt, appropriation, realization or sale of any or all of the Collateral or the enforcement of any Collateral Document shall be applied in accordance with Section 2.02.
Sample 1
Allocation of Collateral Proceeds. Agent shall apply any proceeds realized by Agent from the sale, disposition or collection of Collateral as follows:
Sample 1
Allocation of Collateral Proceeds. All proceeds of Collateral received --------------------------------- by the Agent from and after the occurrence of an Event of Default shall be disbursed by the Agent for the following purposes and in the following order of priority: Second, to the Secured Creditors in reimbursement for any Agent Claims ------ theretofore paid by the Secured Creditors; Third, to the Secured Creditors in reimbursement for Indemnified ----- Lender Amounts; Fourth, to the Secured Creditors pro rata, based upon the percentage ------ of the aggregate outstanding principal amount of the Notes held by each Secured Creditor, in payment of outstanding principal amounts of the Note.
Sample 1
Allocation of Collateral Proceeds. All proceeds of Collateral received by the Agent from and after the occurrence of an Event of Default shall be disbursed by the Agent for the following purposes and in the following order of priority: FIRST, to reimburse the Agent for unpaid Agent Claims; SECOND, to the Secured Creditors in reimbursement for any Agent Claims theretofore paid by such Secured Creditors proportionately to each such Secured Creditor according to the relationship which the amount of Agent Claims paid by such Secured Creditor bears to the aggregate amount of all Agent Claims paid by the Secured Creditors; THIRD, to the Secured Creditors in reimbursement for Indemnified Lender Amounts, proportionately to each Secured Creditor according to the relationship which Indemnified Lender Amounts paid by such Secured Creditor bears to all Indemnified Lender Amounts; FOURTH, to the Secured Parties in payment of accrued and unpaid interest on principal amounts of the Notes proportionately according to the relationship which such accrued and unpaid interest owned to each Secured Creditor bears to the aggregate amount of such accrued and unpaid interest owed to the Secured Creditors under the Notes; FIFTH, to the Secured Creditors in payment of outstanding principal amounts of the Notes proportionately according to the relationship which such outstanding principal amounts bears to the aggregate amount of such outstanding principal amounts owed to the Secured Creditors under the Notes.
Sample 1
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Allocation of Collateral Proceeds. Upon the occurrence of an Acceleration Event, the proceeds of any collection, recovery, receipt, appropriation, realization or sale of any or all of the Senior Collateral or the enforcement of any Senior Security Document ("Collateral Proceeds") shall be applied in accordance with Article 4 of the Collateral Agency Agreement.
Sample 1

Related to Allocation of Collateral Proceeds

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

  • Application of Collateral and Proceeds The proceeds of any sale of, or other realization upon, all or any part of the Collateral shall be applied in the following order of priorities:

  • Allocation of Proceeds If an Event of Default shall exist and maturity of any of the Obligations has been accelerated, all payments received by the Agent under any of the Loan Documents, in respect of any principal of or interest on the Obligations or any other amounts payable by the Borrower hereunder or thereunder, shall be applied in the following order and priority:

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • No Disposition of Collateral Secured Party does not authorize, and Debtor agrees not to:

  • Application of Proceeds from Collateral All proceeds from each sale of, or other realization upon, all or any part of the Collateral by any Secured Party after an Event of Default arises shall be applied as follows:

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

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