Common use of Application of Enforcement Proceeds Clause in Contracts

Application of Enforcement Proceeds. (a) All Enforcement Proceeds not in the form of cash shall be forthwith delivered (subject to the Administration Agent’s acceptance of such delivery) to the Administration Agent on behalf of the Senior Lenders and disposed of, or realized upon, by the Administration Agent on behalf of the Senior Lenders in a commercially reasonable manner so as to produce proceeds in the form of cash.

Application of Enforcement Proceeds. (a) All Enforcement Proceeds not in the form of cash shall be forthwith delivered (subject to the Administration Agent’s 's acceptance of such delivery) to the Administration Agent on behalf of the Senior Lenders and disposed of, or realized upon, by the Administration Agent on behalf of the Senior Lenders in a commercially reasonable manner so as to produce proceeds in the form of cash.

Application of Enforcement Proceeds. (a) All Enforcement Proceeds not in the form of cash shall be forthwith delivered (subject to the Administration AgentSenior Lender’s acceptance of such delivery) to the Administration Agent on behalf of the Senior Lenders Lender and disposed of, or realized upon, by the Administration Agent on behalf of the Senior Lenders Lender in a commercially reasonable manner so as to produce proceeds in the form of cash.