Payments Following an Event of Default Sample Clauses

Payments Following an Event of Default. Payments of interest and principal shall be made to the Note Holders in accordance with Section 3(a) of this Agreement; provided, if a Triggering Event of Default, as determined by the Master Servicer or Special Servicer, as applicable, in accordance with Accepted Servicing Practices shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof whether received in the form of Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale or distribution of any Foreclosed Property, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the Mortgage Loan, Condemnation Proceeds or Insurance Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions) but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows, (y) all amounts received as reimbursements on account of recoveries in respect of property protection expenses or Property Protection Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement (it being understood that subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, the right to reimbursement of such Property Protection Advances is senior to that of any Note Holder to receive payments on its Note) and (z) all amounts that are then due, payable or reimbursable to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (or, solely as regards P&I Advances and Administrative Advances made thereby and interest thereon, reimbursable to any Non-Lead Master Servicer or Non-Lead Trustee with respect to the applicable Notes pursuant to the applicable Non-Lead Securitization Servicing Agreement) and any other additional compensation payable to any Servicer thereunder (including without limitation, any additional trust expenses relating to the Mortgage Loan (but su...
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Payments Following an Event of Default. (a) If an Event of Default has occurred and is continuing, all amounts collected by or on behalf of the Lead Securitization Trust in respect of the Mortgage Loan or the Mortgaged Property, including without limitation, Liquidation Proceeds or Insurance Proceeds or Condemnation Proceeds shall be applied in the following order of priority:
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Payments Following an Event of Default. Upon the occurrence and during the continuance of an Event of Default, all payments shall be applied in such order as Administrative Agent shall determine in its sole discretion or as directed by the Required Lenders. Notwithstanding anything herein to the contrary, if at any time during the existence of an Event of Default, Administrative Agent applies any payments received or the proceeds of any Collateral to principal payments on the Loan, Administrative Agent shall apply such payments or proceeds pro rata between such principal on the Loan and the Obligations under the Secured Hedge Agreements based on the outstanding principal balance of the Loan and the Obligations under the Secured Hedge Agreements.
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Payments Following an Event of Default. Payments of interest and principal shall be made in accordance with Section 3 hereof and the terms of the Servicing Agreement; provided that, if a monetary Event of Default or any non-monetary Event of Default such that it would cause the Mortgage Loans to be Specially Serviced Mortgage Loans, exists and is continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loans or the related Mortgaged Property or amounts realized as proceeds thereof (including amounts received by any Servicer pursuant to the Servicing Agreement but excluding any amounts for required reserves or escrows required by the Mortgage Loan Documents), whether received in the form of monthly payments, the Balloon Payment, prepayments in whole or in part, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar domain (other than (i) proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the Servicing Standard or the terms of the Mortgage Loan Documents, and (ii) amounts collected on the Mortgage Loans that are then due and payable to any Servicer or the Trustee, including without limitation reimbursement of Advances and Advance Interest incurred in connection with the Mortgage Loans) shall be applied in the following order of priority (and payments shall be made at such times as are set forth in the Servicing Agreement):
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Payments Following an Event of Default. So long as: (i) no Monetary Event of Default shall have occurred and be continuing (or if a Monetary Event of Default had occurred but has been cured and is no longer continuing), (ii) no other material Event of Default, as determined by the Servicer pursuant to the Servicing Standard, shall have occurred and be, continuing (or if a material Event of Default (other than a Monetary Event of Default), as determined by the Servicer pursuant to the Servicing Standard, had occurred and has been cured and is no longer continuing) or (iii) the Mortgage Loan is not a Specially Serviced Loan (or if the Mortgage Loan had been a Specially Serviced Loan but is no longer a Specially Serviced Loan), the Master Servicer shall make payments of interest and principal on Note A and Note B in accordance with Section 3 hereof, provided that, if: (i) a Monetary Event of Default shall have occurred and be continuing,
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Payments Following an Event of Default. If an Event of Default has occurred and is continuing, any amounts received by Lender from Borrower may, at Lender’s discretion, be applied: first, to the payment of all expenses and charges, including the expenses of any sale, lease or other disposition of the Collateral, attorneys’ fees, court costs and any other expenses incurred or advances made by Lender in the exercise of its rights and remedies; second, to the payment of the Obligations in such order as Lender shall determine in its sole discretion; and third, to the payment of any surplus thereafter remaining to Borrower or to whosoever may be entitled thereto.
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Related to Payments Following an Event of Default

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Payments After Event of Default Except as otherwise provided in Section 3.04 hereof, all payments received and amounts held or realized by the Mortgagee (including any amounts realized by the Mortgagee from the exercise of any remedies pursuant to Section 15 of the Lease or Article IV hereof) after an Event of Default shall have occurred and be continuing and after the declaration specified in Section 4.04(b) hereof, as well as all payments or amounts then held by the Mortgagee as part of the Trust Indenture Estate, shall be promptly distributed by the Mortgagee in the following order of priority: First,so much of such payments or amounts as shall be required to (i) reimburse the Mortgagee or WTC for any tax (except to the extent resulting from a failure of the Mortgagee to withhold taxes pursuant to Section 2.04(b) hereof), expense or other loss (including, without limitation, all amounts to be expended at the expense of, or charged upon the rents, revenues, issues, products and profits of, the property included in the Trust Indenture Estate (all such property being herein called the “Mortgaged Property”) pursuant to Section 4.05(b) hereof) incurred by the Mortgagee or WTC (to the extent not previously reimbursed), the expenses of any sale, or other proceeding, reasonable attorneys’ fees and expenses, court costs, and any other expenditures incurred or expenditures or advances made by the Mortgagee, WTC or the Note Holders in the protection, exercise or enforcement of any right, power or remedy or any damages sustained by the Mortgagee, WTC or any Note Holder, liquidated or otherwise, upon such Event of Default shall be applied by the Mortgagee as between itself, WTC and the Note Holders in reimbursement of such expenses and any other expenses for which the Mortgagee, WTC or the Note Holders are entitled to reimbursement under any Operative Agreement and (ii) all amounts payable to the other Indenture Indemnitees hereunder and under the Participation Agreement and the Lease; and in the case the aggregate amount to be so distributed is insufficient to pay as aforesaid in clauses (i) and (ii), then ratably, without priority of one over the other, in proportion to the amounts owed each hereunder; Second,so much of such payments or amounts remaining as shall be required to reimburse the then existing or prior Note Holders for payments made pursuant to Section 5.03 hereof (to the extent not previously reimbursed) shall be distributed to such then existing or prior Note Holders ratably, without priority of one over the other, in accordance with the amount of the payment or payments made by each such then existing or prior Note Holder pursuant to said Section 5.03 hereof; Third,(i) so much of such payments or amounts remaining as shall be required to pay in full the aggregate unpaid Original Amount of all Series A Equipment Notes, and the accrued but unpaid interest and other amounts due thereon (other than Make-Whole Amount which shall not be due and payable) and all other Secured Obligations in respect of the Series A Equipment Notes (other than Make-Whole Amount) to the date of distribution, shall be distributed to the Note Holders of Series A, and in case the aggregate amount so to be distributed shall be insufficient to pay in full as aforesaid, then ratably, without priority of one over the other, in the proportion that the aggregate unpaid Original Amount of all Series A Equipment Notes held by each holder plus the accrued but unpaid interest and other amounts due hereunder or thereunder (other than Make-Whole Amount, if any) to the date of distribution, bears to the aggregate unpaid Original Amount of all Series A Equipment Notes held by all such holders plus the accrued but unpaid interest and other amounts due thereon (other than Make-Whole Amount) to the date of distribution;

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • Event of Default Defined The occurrence of any one or more of the following shall constitute an Event of Default under this Agreement, and any Event of Default which may occur hereunder shall constitute an Event of Default under each of the other Loan Documents:

  • Right to Terminate Following Event of Default If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

  • REMEDIES IN CASE OF AN EVENT OF DEFAULT If there shall have occurred and be continuing an Event of Default, then and in every such case, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the Uniform Commercial Code as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable:

  • Event of Default Defined; Acceleration of Maturity; Waiver of Default Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • Remedies Upon an Event of Default (a) Upon the occurrence and during the continuance of an Event of Default described in subsection 15(g) hereof, all of the Liabilities shall immediately and automatically become due and payable, without notice of any kind. Upon the occurrence of any other Event of Default, all Liabilities may, at the option of Lender, and without demand, notice or legal process of any kind, be declared, and immediately shall become, due and payable.

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