Common use of Post-Default Distributions Clause in Contracts

Post-Default Distributions. Following an Event of Default, any Loan Payments or Property Proceeds collected by the Servicer (“Post-Default Proceeds”) shall be applied by the Servicer and/or paid to the Lenders and the Servicer in the following order of priority: (a) first, to the Servicer in an amount equal to all accrued and unpaid Servicing Fees, Management Fees or unpaid Protective Advances made by the Servicer and any other fees reimbursements or other amounts (exclusive of any Incentive Fee payable in accordance with subsection (g), below) payable to the Servicer pursuant to this Agreement, together with accrued interest thereon at the Delinquent Rate; (b) second, to the Super Priority Lenders, in relative proportion to the in total Default Contributions made under Section 6.2(d) of this Agreement, until each Super Priority Lender has received distributions under this Section 8.2(b)(ii) equal to the full amount of their Default Contribution, plus interest thereon at the Delinquent Rate; (c) third, to the Priority Lenders, in relative proportion to the total pro rata Assessment Amount paid by each Priority Lender under Section 6.2(b) of this Agreement, until each Priority Lender has received distributions under this Section 8.2(b)(iii), equal to their full Assessment Amount, plus interest thereon at the Delinquent Rate; (d) fourth, to the Super Priority Lenders, in accordance with their relative Default Contributions, until each Super Priority Lender has received distributions under this Section 8.2(b)(iv) equal to their entire Investment Interest; (e) fifth, to the Priority Lenders, in accordance with their relative Assessment Amounts, until each Priority Lender has received distributions under this Section 8.2(b)(v) equal to their entire Investment Interest; (f) sixth, to the Defaulting Lenders in proportion to their relative Fractional Interests until the Defaulting Lenders have received distributions under this Section 8.2(f) equal to their entire Investment Interest; and (g) seventh, to the Servicer in the amount of any Incentive Fee payable pursuant to Section 5.9, if any; and (h) thereafter, to the Lenders in accordance with their Fractional Interests.

Post-Default Distributions. Following an Event of Default, any Loan Payments or Property Proceeds collected by the Servicer (“Post-Default Proceeds”) shall be applied by the Servicer and/or paid to the Lenders and the Servicer in the following order of priority: (a) first, to the Servicer in an amount equal to all accrued and unpaid Servicing Fees, Management Fees or unpaid Protective Advances made by the Servicer and any other fees reimbursements or other amounts (exclusive of any Incentive Fee payable in accordance with subsection (g), below) payable to the Servicer pursuant to this Agreement, together with accrued interest thereon at the Delinquent Rate; (b) second, to the Super Priority Lenders, in relative proportion to the in total Default Contributions made under Section 6.2(d) of this Agreement, until each Super Priority Lender has received distributions under this Section 8.2(b)(ii) equal to the full amount of their Default Contribution, plus interest thereon at the Delinquent Rate; (c) third, to the Priority Lenders, in relative proportion to the total pro rata Assessment Amount paid by each Priority Lender under Section 6.2(b) of this Agreement, until each Priority Lender has received distributions under this Section 8.2(b)(iii), equal to their full Assessment Amount, plus interest thereon at the Delinquent Rate; (d) fourth, to the Super Priority Lenders, in accordance with their relative Default Contributions, until each Super Priority Lender has received distributions under this Section 8.2(b)(iv) equal to their entire Investment Interest;this (e) fifth, to the Priority Lenders, in accordance with their relative Assessment Amounts, until each Priority Lender has received distributions under this Section 8.2(b)(v) equal to their entire Investment Interest; (f) sixth, to the Defaulting Lenders in proportion to their relative Fractional Interests until the Defaulting Lenders have received distributions under this Section 8.2(f) equal to their entire Investment Interest; and (g) seventh, to the Servicer in the amount of any Incentive Fee payable pursuant to Section 5.9, if any; and (h) thereafter, to the Lenders in accordance with their Fractional Interests.

Post-Default Distributions. Following an Event of Default, any Loan Payments or Property Proceeds collected by the Servicer (“Post-Default Proceeds”) shall be applied by the Servicer and/or paid to the Lenders and the Servicer in the following order of priority: (a) first, to the Servicer in an amount equal to all accrued and unpaid Servicing Fees, Management Fees or unpaid Protective Advances made by the Servicer and any other fees reimbursements or other amounts (exclusive of any Incentive Fee payable in accordance with subsection (g), below) payable to the Servicer pursuant to this Agreement, Agreement together with accrued interest thereon at the Delinquent Rate; (b) second, to the Super Priority Lenders, in relative proportion to the in total Default Contributions made under Section 6.2(d) of this Agreement, until each Super Priority Lender has received distributions under this Section 8.2(b)(ii) equal to the full amount of their Default Contribution, plus interest thereon at the Delinquent Rate; (c) third, to the Priority Lenders, in relative proportion to the total pro rata Assessment Amount paid by each Priority Lender under Section 6.2(b) of this Agreement, until each Priority Lender has received distributions under this Section 8.2(b)(iii), equal to their full Assessment Amount, plus interest thereon at the Delinquent Rate; (d) fourth, to the Super Priority Lenders, in accordance with their relative Default Contributions, until each Super Priority Lender has received distributions under this Section 8.2(b)(iv) equal to their entire Investment Interest; (e) fifth, to the Priority Lenders, in accordance with their relative Assessment Amounts, until each Priority Lender has received distributions under this Section 8.2(b)(v) equal to their entire Investment Interest; (f) sixth, to the Defaulting Lenders Lender in proportion to their relative Fractional Interests until the Defaulting Lenders have received distributions under this Section 8.2(f) equal to their entire Investment Interest; and (g) seventh, to the Servicer in the amount of any Incentive Fee payable pursuant to Section 5.9, if any; and (h) thereafter, to the Lenders in accordance with their Fractional Interests.