Application of. proceeds To the extent that the Agent or the Security Agent receives monies pursuant to or as a result of any breach of any Finance Document to be applied in discharging any obligation (whether actual or contingent, present or future) of any Obligor under any Finance Document, such monies shall be applied in the order set out in Clause 33.5 (Partial Payments).
Appears in 2 contracts
Sources: Facility Agreement (Nl Industries Inc), Second Amendment Agreement (Kronos International Inc)