Common use of Application of Moneys During Continuation of Event of Default Clause in Contracts

Application of Moneys During Continuation of Event of Default. (a) So long as an Event of Default of which the Administrative Agent shall have given notice to the Lenders shall continue, all moneys received by the Administrative Agent or the Collateral Agent from any Obligor under the Loan Documents shall, except as otherwise required by law, be distributed by the Administrative Agent on the dates selected by the Administrative Agent, subject to the Intercreditor Agreement, as follows: first, to payment of the unreimbursed expenses for which the Administrative Agent, the Collateral Agent or any Lender is to be reimbursed pursuant to Section 11.03 and to any unpaid fees owing under the Loan Documents by the Obligors to the Administrative Agent or the Collateral Agent; second, to the ratable payment of accrued but unpaid interest on the Loans; third, to the ratable payment of unpaid principal of the Loans, any Banking Services Obligations and Swap Obligations until the principal of the Loans and such Banking Services Obligations and Swap Obligations shall have been paid in full; fourth, to the ratable payment of all other Obligations and Secured Obligations, until all Obligations and Secured Obligations shall have been paid in full;

Application of Moneys During Continuation of Event of Default. (a) So long as an Event of Default of which the Administrative Agent shall have given notice to the Lenders shall continue, all moneys received by the Administrative Agent or the Collateral Agent from any Obligor under the Loan Documents shall, except as otherwise required by law, be distributed by the Administrative Agent on the dates selected by the Administrative Agent, subject to the Intercreditor Agreement, Agent as follows: first, to payment of the unreimbursed expenses for which the Administrative Agent, the Collateral Agent or any Lender is to be reimbursed pursuant to Section 11.03 and to any unpaid fees owing under the Loan Documents by the Obligors to the Administrative Agent or the Collateral Agent; second, to the ratable payment of accrued but unpaid interest on the Loans; third, to the ratable payment of unpaid principal of the Loans, any Banking Services Obligations and Swap Obligations until the principal of the Loans and such Banking Services Obligations and Swap Obligations shall have been paid in full; fourth, full and to secure the ratable payment repayment and discharge of the outstanding amount of all other Obligations and Secured Obligations, until all Obligations and Secured Obligations shall have been paid LC Exposure in fullaccordance with Section 3.01(j);