7Selas SAS Transfer Event. The proceeds of any Selas SAS Transfer Event shall, in all events, be applied in the following order: (i) first, to pay and satisfy in full the entire outstanding balance of the Overdraft Facility (together with accrued interest and fees thereon); (ii) second, to pay and satisfy in full the outstanding balance of the Supplemental Credit Facility (together with accrued interest and fees thereon), if any; and (iii) third, to repay any loans or advances made by the Borrower to Selas SAS. Upon a Selas SAS Transfer Event, the Borrower, the European Subsidiaries and the U.S. Guarantors shall cause all outstanding Advance Payment Guarantees that have been issued for the benefit of Selas SAS to be cancelled, terminated and surrendered to the London Branch without any amounts having been drawn thereunder.
