Application following an Event of Default. During the continuance of an Event of Default, Agent may, and shall upon the direction of Required Lenders, apply any payments received by Agent in accordance with clauses first through sixth below. Notwithstanding any provision herein to the contrary, all payments made by Credit Parties to Agent after any or all of the Obligations have been accelerated (so long as such acceleration has not been rescinded), including proceeds of Collateral, shall be applied as follows and in such priority:
Appears in 4 contracts
Samples: Credit Agreement (Jakks Pacific Inc), Term Loan Agreement (Jakks Pacific Inc), Credit Agreement (Jakks Pacific Inc)
