Distribution of Proceeds of Collateral. All proceeds of any realization on the collateral pursuant to the Security Documents and any payments received by the Agent or any Lender subsequent to and during the continuance of any Event of Default, shall be allocated and distributed by the Agent as follows:
Distribution of Proceeds of Collateral. At any time during which all or any part of the Senior Indebtedness remains outstanding, and whether or not the same is then due and payable, the Proceeds of any sale, disposition or other realization by Senior Creditor (or any agent therefor) upon all or any part of the Collateral shall be applied first to the payment in full of all Senior Indebtedness in such order as Senior Creditor shall determine in its sole discretion.
Distribution of Proceeds of Collateral. All proceeds of Collateral shall be distributed in accordance with the following procedure to the extent permitted by law:
Distribution of Proceeds of Collateral. All proceeds of Collateral subject to this Agreement received by Creditor or Lender upon the exercise of any of its respective rights therein shall be distributed as follows:
Distribution of Proceeds of Collateral. Collateral Agent shall distribute the Proceeds of the Collateral as provided in Section 6.02 of the Security Agreement. Collateral Agent shall rely on the provisions in Section 6 of the Security Agreement for calculating the Obligations payable from such Proceeds. Collateral Agent has no duty or obligation to make an independent inquiry regarding the foregoing calculations or the facts on which such calculations are based.
Distribution of Proceeds of Collateral. At any time (whether or not following an Enforcement Notice), all proceeds of Collateral shall be distributed in accordance with the following procedure:
Distribution of Proceeds of Collateral. (a) Upon any realization upon the Collateral, the Secured Parties agree that the proceeds thereof shall be applied (i) first, to the amounts owing to the Collateral Agent, solely in its capacity as Collateral Agent, by the Grantor or the Secured Parties pursuant to this Agreement or the Collateral Document; (ii) second, to reimburse the Secured Parties for any amounts paid under Section 5.6 hereof; (iii) third, to the payment of all amounts of accrued and unpaid interest which constitute Secured Obligations; (iv) fourth, to all amounts of principal outstanding (or, if applicable, unpaid accreted value) in respect of the Secured Obligations; (v) fifth, to all other Secured Obligations then owing to the Secured Parties; and (vi) sixth, the balance, if any, shall be returned to the Company or such other Persons as are entitled thereto. All applications of such proceeds pursuant to clauses (ii) through (v) above shall be allocated among the Secured Parties on the basis of their respective Pro Rata Shares.
Distribution of Proceeds of Collateral. Subject to the terms of the Intercreditor Agreement, all proceeds received by the Agent pursuant to the Security Documents for application to the Bank Obligations or any payments on any of the liabilities secured by the Security Documents received by the Agent or any Bank upon and during the continuance of any Event of Default shall be allocated and distributed as follows:
Distribution of Proceeds of Collateral. (a) All proceeds of Collateral resulting from the sale or other disposition of Collateral, whether or not in connection with or resulting from any Enforcement Action or Insolvency Proceeding, shall be distributed as follows: (i) if the Collateral is Senior Lender Priority Collateral, the proceeds shall be distributed first to the Administrative Agent until the Senior Lender Obligations shall have been Paid In Full and the balance, if any, to the Notes Collateral Agent for application in accordance with the Senior Noteholder Documents and (ii) if the Collateral is Senior Noteholder Priority Collateral, except to the extent that the proceeds are to be reinvested or held in a cash collateral account as expressly provided under the terms of the Indenture (as in effect on the date of this Agreement), the proceeds shall be distributed first to the Notes Collateral Agent until the Senior Noteholder Obligations shall have been Paid In Full and the balance, if any, to the Administrative Agent for application in accordance with the Senior Lender Documents. If, in the event of any sale or disposition of Senior Lender Priority Collateral and Senior Noteholder Priority Collateral in a single transaction or series of related transactions, the aggregate sales price shall have not been allocated in any agreement evidencing such sale or disposition between the Senior Lender Priority Collateral, on the one hand, and the Senior Noteholder Priority Collateral, on the other hand, being sold, then, solely for purposes of this Agreement, the portion of the aggregate sales price deemed to be proceeds of the Senior Lender Priority Collateral, on the one hand, and the Senior Noteholder Priority Collateral, on the other hand, shall be mutually determined by the Administrative Agent, the Term Loan B Agent (as such term is defined in the Credit Agreement), and the Notes Collateral Agent. In the event that the Administrative Agent, the Term Loan B Agent and the Notes Collateral Agent are unable to so mutually agree on the allocation of such sales price between proceeds of the Senior Lender Priority Collateral, on the one hand, and the Senior Noteholders Priority Collateral, on the other hand, then the portion of the aggregate sales price deemed to be proceeds of the Senior Noteholder Priority Collateral shall be equal to the Fair Market Value of the Senior Noteholder Priority Collateral, and the remainder shall be deemed to be proceeds of the Senior Lender Priority Collateral.
Distribution of Proceeds of Collateral. In the event of a disposition or sale of the Collateral, all proceeds thereof, received in connection with or resulting from any enforcement action or Insolvency Proceeding, shall be distributed as follows:
