Optional and Scheduled Payments Sample Clauses
Optional and Scheduled Payments. Except as set forth in Section 4.2 and Section 4.4, prior to payment in full of all Senior Claims, (i) the Senior Secured Parties may receive and retain all payments in respect of any Senior Claim (including from Junior Collateral) and (ii) the Junior Secured Parties may receive and retain all payments in respect of any Junior Claim (including from Senior Collateral) unless such payments are from Senior Collateral or proceeds of Senior Collateral received as a result of any Collateral Enforcement Action, a distribution of proceeds of Senior Collateral in an Insolvency or Liquidation Proceeding or any other action taken in contravention of this Agreement.
Optional and Scheduled Payments. Except as set forth in Section 3.2 (Insurance and other Net Cash Proceeds) and Section 3.4 (Payment Over), prior to the Discharge of Senior Lien Obligations, (i) the Senior Secured Parties may receive and retain all payments in respect of any Senior Lien Obligation (including from Collateral) and (ii) the Junior Secured Parties may receive and retain all payments not prohibited by the Senior Lien Credit Agreement in respect of any Junior Lien Obligation (including from Collateral) unless such payments are from Collateral or proceeds of Collateral (x) received during a Default Distribution Period or (y) received as a result of any Collateral Enforcement Action or any other action taken in contravention of this Agreement.
Optional and Scheduled Payments