Application of Distributions. If any distribution, payment or deposit to redeem, defease or acquire the Debt outstanding hereunder shall have been received by the Holder at a time when such distribution was prohibited by the provisions of this Section 6, then, unless such distribution is no longer prohibited by this Section 6, such distribution shall be received and applied by the Holder for the benefit of the holders of Senior Debt, and shall be paid or delivered by the Holder to the holders of Senior Debt for application to the payment of all Senior Debt in compliance with applicable law.
Application of Distributions. 10 ARTICLE IV Substitution, Release, Repledge and Settlement of Capital Securities
Application of Distributions. All payments received by the Purchase Contract Agent as provided herein shall be applied by the Purchase Contract Agent pursuant to the provisions of the Purchase Contract Agreement. If, notwithstanding the foregoing, the Purchase Contract Agent shall receive any payments of the Stated Amount on account of any Capital Security or principal of any Treasury Consideration, as applicable, that, at the time of such payment, is a Pledged Capital Security or Pledged Treasury Consideration, as the case may be, or a Holder of a Stripped Unit shall receive any payments of principal on account of any Treasury Securities that, at the time of such payment, are Pledged Treasury Securities, the Purchase Contract Agent or such Holder shall hold the same as trustee of an express trust for the benefit of the Company (and promptly deliver the same over to the Company) for application to the obligations of the Holders under the related Purchase Contracts, and the Holders shall acquire no right, title or interest in any such payments of Stated Amount or principal so received.
Application of Distributions. At all times following the occurrence and during the continuance of an Event of Default, distribute to Secured Party any cash dividends or distributions received in respect of the Equity Interests, and all such amounts shall be immediately utilized by the Secured Party to repay the Notes and other obligations of the Companies to the Investors.
Application of Distributions. If any distribution, payment or deposit to redeem, defease or acquire the Guaranty Debt shall have been received by the Holder at a time when such distribution was prohibited by the provisions of this Section 6, then, unless such distribution is no longer prohibited by this Section 6, such distribution shall be received and applied by the Holder for the benefit of the holders of Senior Debt, and shall be paid or delivered by the Holder to the holders of Senior Debt for application to the payment of all Senior Debt.
Application of Distributions. To the extent that there is any amount due from a Limited Partner to TAH under a loan made pursuant to paragraph 3.01(b), each distribution to a Limited Partner (except a distribution under subsection(a)(ii) hereof) shall be applied in payment of such obligation of such Partner.
Application of Distributions. Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent is hereby granted full irrevocable power and authority to hold, use and apply all cash and non-cash dividends and distributions issued in connection with the Pledged Capital Stock, together with all interest earned thereon, in partial payment of the Secured Obligations and may convert any such non-cash distributions to cash and apply the proceeds thereof as well as any cash distributions (a) in partial payment of the Secured Obligations and (b) in payment of charges or expenses incurred by the Secured Parties, or any of them, to which they are entitled pursuant to the Credit Agreement, in connection with any and all things which the Secured Parties, or any of them, may do or cause to be done in accordance with this Agreement; provided, that nothing in this Section 10 shall prevent the Borrowers from making Tax Distributions permitted in accordance with the Credit Agreement.
Application of Distributions. No amounts received by or distributed to Pledgor shall be permitted if same would violate the requirements of the Loan Agreement or the Organizational Documents.
Application of Distributions. Except for Distributions made with respect to prepayments being made pursuant to Section 4.02(a) and with respect to accrued interest on the Revolving Loans being prepaid, the Facility Agent will apply all Distributions to the Obligations then due promptly after receipt thereof from the Collateral Agent in the following order: first, to any outstanding costs and expenses of the Facility Agent, the Collateral Agent and the Lenders (including reasonable legal fees and expenses) incurred in enforcing this Agreement or any other Transaction Document during the continuance of an Actionable Event; provided that the amount applied pursuant to this clause first with respect to any Carrying Costs (other than interest on the Loans) shall not exceed the amounts distributed in respect of such Carrying Costs pursuant to Sections 4.02(c), 4.03(f) and 4.03(g) of the Pooling and Servicing Agreement; second, to unpaid accrued interest on the Revolving Loans; third, to the unpaid principal of Alternate Base Rate Loans; fourth, to the unpaid principal of LIBO Rate Loans; fifth, to unpaid accrued Facility Agent Fees and Collateral Agent Fees; sixth, to unpaid accrued Commitment Fees; and
Application of Distributions. If the default involves a monetary payment, amounts otherwise to be distributed to the defaulting Member may be withheld to make the payment in default, with interest as provided in paragraph (a) above if so determined by the non- defaulting Members.
