Common use of Application of Proceeds of Security, Loan Guaranty Payments Clause in Contracts

Application of Proceeds of Security, Loan Guaranty Payments. (a) Subject to the provisions of Section 4 which shall govern with respect to the allocation of Net Asset Sale Proceeds of Domestic Collateral or Net Insurance/Condemnation Proceeds arising therefrom, any and all amounts actually received by Collateral Agent in connection with the enforcement of the Collateral Documents, including the proceeds of any sale or other disposition of, collection from or other realization upon the Domestic Collateral or any portion thereof (collectively, “Proceeds”) shall be applied promptly by Collateral Agent as follows:

Application of Proceeds of Security, Loan Guaranty Payments. (a) Subject to the provisions of Section 4 which shall govern with respect to the allocation of Net Asset Sale Proceeds of Domestic Collateral or Net Insurance/Condemnation Proceeds arising therefromtherefrom or Net Debt Securities Proceeds arising from the issuance of Receivables Sales Indebtedness, any and all amounts actually received by the Collateral Agent in connection with the enforcement of the Collateral Documents, including the proceeds of any collection, sale or other disposition of, collection from or other realization upon of the Domestic Collateral or any portion thereof (collectively, “"Proceeds”") shall be applied promptly by the Collateral Agent as follows:

Application of Proceeds of Security, Loan Guaranty Payments. (a) Subject to the provisions of Section 4 which shall govern with respect to the allocation of Net Asset Sale Proceeds of Domestic Collateral or Net Insurance/Condemnation Proceeds arising therefromtherefrom or Net Debt Proceeds arising from the issuance of Receivables Sales Indebtedness, any and all amounts actually received by Collateral Agent in connection with the enforcement of the Collateral Documents, including the proceeds of any sale or other disposition of, collection from or other realization upon the Domestic Collateral or any portion thereof (collectively, “Proceeds”) shall be applied promptly by Collateral Agent as follows: