Common use of Post-Default Allocation Clause in Contracts

Post-Default Allocation. Notwithstanding anything herein to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows: (a) first, to all costs and expenses, including Extraordinary Expenses, owing to Agent; (b) second, to all amounts owing to Agent on Swingline Loans; (c) third, to all amounts owing to Issuing Bank; (d) fourth, to all Obligations constituting fees (other than Secured Bank Product Obligations); (e) fifth, to all Obligations constituting interest (other than Secured Bank Product Obligations); (f) sixth, to Cash Collateralization of LC Obligations; (g) seventh, to all Loans and Noticed ▇▇▇▇▇▇, including Cash Collateralization of outstanding Noticed ▇▇▇▇▇▇; and (h) last, to all other Obligations.

Post-Default Allocation. Notwithstanding anything herein to the contrary, during During an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows: (a) first, to all costs and expenses, including Extraordinary Expenses, owing to Agent; (b) second, to all amounts owing to Agent on Swingline Loans; (c) third, to all amounts owing to Issuing BankBank on LC Obligations; (d) fourth, to all Obligations constituting fees (other than Secured excluding amounts relating to Bank Product ObligationsProducts); (e) fifth, to all Obligations constituting interest (other than Secured excluding amounts relating to Bank Product ObligationsProducts); (f) sixth, to provide Cash Collateralization Collateral for outstanding Letters of LC ObligationsCredit; (g) seventh, to all Loans and Noticed ▇▇▇▇▇▇other Obligations other than Bank Product Debt; (h) eighth, including Cash Collateralization of outstanding Noticed ▇▇▇▇▇▇to Bank Product Debt to the extent reserved for in the Borrowing Base; (i) ninth, to Bank Product Debt; and (hj) lasttenth, to all other Obligationsthe Borrower.