Common use of Modified Priorities Following Liquidation Clause in Contracts

Modified Priorities Following Liquidation. Notwithstanding Section 10.2, Section 10.3 and Section 10.4, following the liquidation of any portion of the Collateral pursuant to Article VI, any proceeds of such liquidation will be distributed in the manner and in the priority set forth in Section 6.2(b) or Section 6.4(b), as applicable.

Appears in 22 contracts

Samples: Credit and Security Agreement (GM Financial Automobile Leasing Trust 2016-3), Credit and Security Agreement (GM Financial Automobile Leasing Trust 2015-1), Credit and Security Agreement (ACAR Leasing Ltd.)

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Modified Priorities Following Liquidation. Notwithstanding Section 10.2Sections 10.02, Section 10.3 10.03 and Section 10.410.04, following the liquidation of any portion of the Collateral pursuant to Article VISix, any proceeds of such liquidation will be distributed in the manner and in the priority set forth in Section 6.2(bSections 6.03(b) or Section 6.4(b6.05(b), as applicable.

Appears in 3 contracts

Samples: Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Collateral Agency Agreement (Daimler Trust)

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Modified Priorities Following Liquidation. Notwithstanding Section 10.210.02, Section 10.3 10.03 and Section 10.410.04, following the liquidation of any portion of the Collateral pursuant to Article VI, any proceeds of such liquidation will be distributed in the manner and in the priority set forth in Section 6.2(b6.03(b) or Section 6.4(b6.05(b), as applicable.

Appears in 1 contract

Samples: Credit and Security Agreement (CAB West LLC)

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