Common use of Rights of the Administrative Agent Clause in Contracts

Rights of the Administrative Agent. (a) If an Event of Default shall occur and be continuing, (i) the Administrative Agent shall have the right to receive and shall receive any and all cash distributions paid in respect of the Interests and make application thereof to the Obligations in such order as it may determine.

Rights of the Administrative Agent. (a) If an Event of Default shall occur and be continuing, (i) the Administrative Agent shall have the right to receive and shall receive any and all cash distributions or other payments paid in respect of the Interests and make application thereof to the Obligations in such order as it may determine.