Common use of Holding of Security; Sharing of Payments, etc Clause in Contracts

Holding of Security; Sharing of Payments, etc. (1) The Security shall be held by the Administrative Agent for the benefit of itself and the rateable benefit of the Lenders in accordance with their respective terms and any proceeds from any realization of the Security shall be applied to the Accommodations Outstanding to each Lender rateably (whether such Security is held in the name of the Administrative Agent or in the name of any one or more of the Lenders and without regard to any priority to which any Lender may otherwise be entitled under applicable law).

Holding of Security; Sharing of Payments, etc. (1) The Security shall be held by the Administrative Agent for the benefit of itself and the rateable benefit of the Lenders in accordance with their respective its terms and any proceeds from any realization of the Security shall be applied to the Accommodations Outstanding to each Lender rateably (whether such Security is held in the name of the Administrative Agent or in the name of any one or more of the Lenders and without regard to any priority to which any the Lender may otherwise be entitled under applicable law).