Common use of Interest Proceeds Clause in Contracts

Interest Proceeds. On each Payment Date, Available Funds that constitute Interest Proceeds under the Indenture shall be distributed in the following order of priority: (A) to the Class P Preferred Shares, to the extent of accrued and unpaid dividends thereon; (B) to the Subordinated Trust Administrator (pursuant to written direction from the Issuer and the Retention Holder), any accrued and unpaid (1) Subordinated Trust Administrator Fees and (2) Manager Incentive Fees; and (C) to the Class R Preferred Shares, the remaining Interest Proceeds (if any) in the Preferred Share Distribution Account.

Interest Proceeds. On each Payment Date, Available Funds that constitute Interest Proceeds under the Indenture shall be distributed in the following order of priority: (A) to the Class P Preferred Shares, to the extent of accrued and unpaid dividends thereon; (B) to the Subordinated Trust Administrator (pursuant to written direction from the Issuer and the TPG RE Finance Trust 2018-FL1 Retention Holder, LLC), any accrued and unpaid (1) Subordinated Trust Administrator Fees and (2) Manager Incentive Fees; and (C) to the Class R Preferred Shares, the remaining Interest Proceeds (if any) in the Preferred Share Distribution Paying Account.