Common use of Distribution of Liquidation Proceeds Clause in Contracts

Distribution of Liquidation Proceeds. (a) During the existence of an Event of Default, the Administrative Agent may establish one or more reasonably funded reserve accounts into which proceeds of the conduct of any Liquidation may be deposited in anticipation of future expenses which may be incurred by the Administrative Agent in the exercise of rights as a secured creditor of the Borrowers and prior claims which the Administrative Agent reasonably anticipates may need to be paid.

Distribution of Liquidation Proceeds. (a) During the existence of an Event of Default, the Administrative Agent may establish one or more reasonably funded reserve accounts into which proceeds of the conduct of any Liquidation may be deposited in anticipation of future expenses which may be incurred by the Administrative Agent in the exercise of rights as a secured creditor of the Borrowers Credit Parties and prior claims which the Administrative Agent reasonably anticipates may need to be paid.

Distribution of Liquidation Proceeds. (a) During the existence of an Event of Default, the The Administrative Agent may establish one or more reasonably funded reserve accounts into which proceeds of the conduct of any Liquidation may be deposited in anticipation of future expenses which may be incurred by the Administrative any Agent in the exercise of rights as a secured creditor of the Borrowers and prior claims which the Administrative Agent reasonably anticipates Agents anticipate may need to be paid.