Common use of Distribution of Proceeds Clause in Contracts

Distribution of Proceeds. All cash proceeds received by the Administrative Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the Administrative Agent, be held by the Administrative Agent as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to the Administrative Agent pursuant to Section 6.2) in whole or in part by the Administrative Agent for the ----------- ratable benefit of the Secured Parties against, all or any part of the Obligations in such order as the Administrative Agent shall elect. The Grantor shall remain liable for any deficiency. Any surplus of such cash or cash proceeds held by the Administrative Agent and remaining after payment in full in cash of all the Obligations, the termination of all Interest Rate Agreements to which a Secured Party is a party, the termination or expiration of all Letters of Credit and the termination of all Commitments shall be paid over to the Grantor or to whomsoever may be lawfully entitled to receive such surplus.

Distribution of Proceeds. All cash proceeds received by the Administrative Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the Administrative Agent, be held by the Administrative Agent as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to the Administrative Agent pursuant to Section 6.2) in whole or in part by the Administrative Agent for the ----------- ratable benefit of the Secured Parties against, all or any part of the Obligations in such order as the Administrative Agent shall elect. The Grantor shall remain liable for any deficiency. Any surplus of such cash or cash proceeds held by the Administrative Agent and remaining after payment in full in cash of all the Obligations, the termination of all Interest Rate Agreements to which a Secured Party is a party, the termination or expiration of all Letters of Credit party and the termination of all Commitments shall be paid over to the Grantor or to whomsoever may be lawfully entitled to receive such surplus.

Distribution of Proceeds. All cash proceeds received by the Administrative Agent in respect of any sale of, collection from, or other realization upon all or any part of the Collateral may, in the discretion of the Administrative Agent, be held by the Administrative Agent as collateral for, and/or then or at any time thereafter applied (after payment of any amounts payable to the Administrative Agent pursuant to Section 6.2) in whole or in part by the Administrative Agent for the ----------- ------------ ratable benefit of the Secured Parties against, all or any part of the Obligations in such order as the Administrative Agent shall elect. The Grantor shall remain liable for any deficiency. Any surplus of such cash or cash proceeds held by the Administrative Agent and remaining after payment in full in cash of all the Obligations, the termination of all Interest Rate Agreements to which a Secured Party is a party, the termination or expiration of all Letters of Credit party and the termination of all Commitments shall be paid over to the Grantor or to whomsoever may be lawfully entitled to receive such surplus.