Application of Proceeds definition

Application of Proceeds. All amounts received by the Bank as proceeds from the disposition or liquidation of the Collateral shall be applied to the Borrower's indebtedness to the Bank as follows: first, to the costs and expenses of collection, enforcement, protection and preservation of the Bank's lien in the Collateral, including court costs and reasonable attorneys' fees, whether or not suit is commenced by the Bank; next, to those costs and expenses incurred by the Bank in protecting, preserving, enforcing, collecting, liquidating, selling or disposing of the Collateral; next, to the payment of accrued and unpaid interest on all of the Obligations; next, to the payment of the outstanding principal balance of the Obligations; and last, to the payment of any other indebtedness owed by the Borrower to the Bank. Any excess Collateral or excess proceeds existing after the disposition or liquidation of the Collateral will be returned or paid by the Bank to the Borrower.
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Application of Proceeds. All amounts received by the Bank as proceeds from the disposition or liquidation of the Collateral shall be applied to the Borrower's indebtedness to the Bank as follows: first, to the costs and expenses of collection, enforcement, protection and preservation of the Bank's lien in the Collateral, including court costs and reasonable attorneys' fees, whether or not suit is commenced by the Bank; next, to those costs and expenses incurred by the Bank in protecting, preserving, enforcing, collecting, liquidating, selling or disposing of the Collateral; next, to the payment of accrued and unpaid interest on all of the Obligations; next, to the payment of the outstanding principal balance of the Obligations; and last, to the payment of any other indebtedness owed by the Borrower to the Bank. Any excess Collateral or excess proceeds existing after the disposition or liquidation of the Collateral will be returned or paid by the Bank to the Borrower. If any non-cash proceeds are received in connection with any sale of Collateral, the Bank shall not apply such non-cash proceeds to the Obligations unless and until such proceeds are converted to such; provided, however, that if such non-cash proceeds are not expected on the date of receipt thereof to be converted to cash within one year after such date, the Bank shall use commercially reasonable efforts to convert such non-cash proceeds to cash within such one year period. SECTION
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Application of Proceeds means the application by Holdings ----------------------- and Iron Age of excess cash and the net proceeds (after deduction of related fees and expenses) of the Transactions and the Iron Age Transactions (i) to - repay Iron Age's indebtedness under the existing syndicated senior bank loan facility; (ii) to repay Iron Age's Existing Subordinated Notes; (iii) to pay a -- --- dividend to Holdings' stockholders and to make compensation payments to certain members of management of Iron Age and (iv) to redeem the Holdings Series A -- Preferred Stock.
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Examples of Application of Proceeds in a sentence

  • Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof.

  • Receipt and Application of Proceeds: Town as trustee shall have power to adjust and settle any loss with the insurers.

  • Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof.

  • The proviso to General Condition 6.4 (Application of Proceeds of Enforcement of Charged Property) shall be deleted.

  • Periodic Distribution Amounts shall be distributed to Certificateholders by the Principal Paying Agent on behalf of the Trustee, pro rata to their respective holdings, out of amounts transferred to the Transaction Account and subject to Condition 5.2 (Application of Proceeds from Trust Assets) and Condition 9 (Payments).

  • Application of Proceeds of Sale If the directors sell any shares on which the company has a lien, the proceeds will first be used to pay the company’s expenses associated with the sale.

  • The sacrament of Reconciliation should be celebrated prior to the reception of First Eucharist.

  • The Security Trustee shall accumulate such moneys until the accumulations, together with any other funds for the time being under its control and available for such payment, amount to at least the Post-enforcement Minimum Accumulated Amount and then such accumulations and funds (after deduction of, or provision for, any applicable Taxes) shall be applied as specified in Condition 5(d) (Application of Proceeds of Enforcement of Security).

  • After realising the security which has become enforceable and distributing the net proceeds in accordance with Condition 5 (Application of Proceeds), the obligations of the Issuer with respect to the Trustee, the Counterparty (if any) and the Securityholders shall be satisfied.

  • The amount in (c) above will be applied in accordance with paragraph 62 (Application of Proceeds) within three (3) Business Days of the receipt of the funds.If an Early Redemption Event occurs, the Issuer or the Asset Swap Counterparty, as applicable, shall give notice thereof to the Issuer, the Asset Swap Counterparty, the Custodian, the Japanese Custodian and the Trustee.


More Definitions of Application of Proceeds

Application of Proceeds means the application by the Company of ----------------------- excess cash and the net proceeds (after deduction of related fees and expenses) of the Transactions (i) to repay indebtedness under the existing syndicated senior bank loan facility; (ii) to repay the Company's Existing Subordinated Notes; and (iii) to pay to Holdings a dividend to be used to redeem a portion of Holdings' Series A Preferred Stock.
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Application of Proceeds provision contained in any Security Document shall be amended (i) to insert before the FIRST application of proceeds contained therein a new FIRST application: “FIRST, to payment in full of all Obligations owed to Bank of America, N.A., or to any of its Affiliates in respect of any Letter of Credit or LC Disbursement or in respect of any Cash Management Services Obligations” and (ii) to renumber the references therein to “FIRST” as “SECOND”, “SECOND” as “THIRD”, “THIRD” as “FOURTH”, “FOURTH” as “FIFTH” and “FIFTH” as “SIXTH”.
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Related to Application of Proceeds

  • Use of Proceeds Charges" "Conflicts of Interest" "Redemptions; Net Asset Value" "The Trust and the Trustee" "Federal Income Tax Aspects" In connection with making the representations and warranties set forth in this paragraph, the Additional Selling Agent shall not rely on inquiries made by or on behalf of any other parties. The Additional Selling Agents shall inform all prospective purchasers of Units of all pertinent facts relating to the liquidity and marketability of the Units as set forth in the Prospectus. The Additional Selling Agent shall offer and sell Units in compliance with the requirements set forth in the Registration Statement (particularly the "Subscription Requirements" attached as Exhibit B thereto), this Agreement and the Blue Sky Survey delivered to the Lead Selling Agent by the Managing Owner's counsel, a copy of which has been provided to each Additional Selling Agent. An Additional Selling Agent shall represent and warrant that it shall comply fully at all times with all applicable federal and state securities and commodities laws (including without limitation the 1933 Act, the Securities Exchange Act of 1934, as amended (the "1934 Act"), the Commodity Exchange Act, as amended (the "CEA"), and the securities and Blue Sky laws of the jurisdictions in which the Additional Selling Agent solicits subscriptions, all applicable rules and regulations under such laws, and all applicable requirements, rules, policy statements and interpretations of the NASD, and the securities and commodities exchanges and other governmental and self-regulatory authorities and organizations having jurisdiction over it or the offering of Units). The Additional Selling Agent shall under no circumstances engage in any activities hereunder in any jurisdiction (i) in which the Managing Owner has not informed the Additional Selling Agent that counsel's advice has been received that the Units are qualified for sale or are exempt under the applicable securities or Blue Sky laws thereof or (ii) in which the Additional Selling Agent may not lawfully engage. Each Additional Selling Agent shall further agree to comply with the requirement under applicable federal and state securities laws to deliver to each offeree a Prospectus and any amendments or supplements thereto (including summary financial information, if available, after the Trust has commenced operations). Neither the Additional Selling Agent nor any of its employees, agents or representatives will use or distribute any marketing material or information other than that prepared by the Trust and the Managing Owner.

  • restriction of processing means the marking of stored personal data with the aim of limiting their processing in the future;

  • Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Application Money shall have the meaning ascribed to it in Clause 1.11; “Association” shall mean the body to be created by the Apartment Acquirers;

  • Application Fee means the non-refundable fee required by Owner to process the Application. The Application Fee covers Owner’s time and expense in obtaining information about you such as checking your references and obtaining and reviewing your consumer report.  Administration Fee: “Administration Fee” is a one-time fee required by Owner. The Administration Fee includes items such as the preparation of this Lease Contract and related Documents, setting up your account ledger and other time, costs and expenses associated with the processing of this Lease Contract. The Administration Fee will be refunded to you ONLY if: i) an Exclusive Bed Space cannot be leased to you, ii) your Application is not approved by Owner, or iii) you withdraw your Application within 72 hours after signing the Application (pursuant to the terms of the Application). Otherwise, the Administration Fee shall be retained by Owner as liquidated damages, including but not limited to situations where you either: i) fail to sign this Lease Contract after approval by Owner, or ii) 72 or more hours have passed after your execution of the Application. You agree that Owner’s damages from your failure to sign the Lease Contract or attempted withdrawal of your Application are difficult to ascertain, and the Administration Fee is a reasonable estimate of those damages.  Common Areas: “Common Areas” are those areas located within the Unit that are not exclusively leased to other persons residing in the Unit.

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.

  • Application an application, in such form as the Issuing Lender may specify from time to time, requesting the Issuing Lender to open a Letter of Credit.

  • the Application means the application made by the Licensee for the grant of the licence

  • Application Process means the online application process under which the Applicant applies for Hospitality Packages on the Webshop.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Net Loss Proceeds means, with respect to any Event of Loss, the proceeds in the form of (a) cash or Cash Equivalents and (b) insurance proceeds, condemnation awards or damages awarded by any judgment, in each case received by an Obligor from such Event of Loss net of:

  • REO Proceeds Proceeds received in respect of any REO Mortgage Loan (including, without limitation, proceeds from the rental of the related Mortgaged Property).

  • Capital Proceeds means the gross receipts received by the Company from a Capital Transaction.

  • Access Application means an application for Access Rights as described in section 3.7;

  • Available Proceeds means, with respect to a Liquidation Event or Enforcement Event, as of a particular day:

  • Net Proceeds Deficiency shall have the meaning set forth in Section 7.4 hereof.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Time of application means the date a participating lender receives an application from a participating community.

  • Request for Applications (RFA) means the document (including all amendments and attachments) issued by the System Agency under which applications for Program funds were requested, which is incorporated by reference for all purposes in its entirety.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Post-Enforcement Priority of Payments means the order of priority pursuant to which the Guarantor Available Funds shall be applied on each Guarantor Payment Date, following the delivery of a Guarantor Default Notice, in accordance with the Intercreditor Agreement.

  • Disposition Proceeds means, with respect to each Group I/II Non-Program Vehicle, the net proceeds from the sale or disposition of such Group I/II Eligible Vehicle to any Person (other than any portion of such proceeds payable by the Group I/II Lessee thereof pursuant to any Group I/II Lease).

  • L/C Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.