Common use of After Event of Default Clause in Contracts

After Event of Default. Following the occurrence and continuance of an Event of Default, Administrative Agent shall apply any and all payments received by Administrative Agent in respect of the Obligations, and any and all proceeds of Collateral received by Administrative Agent, in the following order: first, to all fees, costs, indemnities, liabilities, obligations and expenses incurred by or owing to Administrative Agent with respect to this Agreement, the other Financing Documents or the Collateral, second, to all fees, costs, indemnities and expenses incurred by or owing to any Lender with respect to this Agreement, the other Financing Documents or the Collateral, third, to accrued and unpaid interest on the Obligations, fourth, to the principal amount of the Obligations outstanding, and fifth, to any other indebtedness or obligations of Borrower owing to Administrative Agent or any Lender under the Financing Documents.

After Event of Default. Following the occurrence and continuance of an Event of Default, the Administrative Agent shall apply any and all payments received by the Administrative Agent in respect of the DIP Obligations, and any and all proceeds of Collateral received by the Administrative Agent, in the following order: first, to all fees, costs, indemnities, liabilities, obligations and expenses incurred by or owing to the Administrative Agent with respect to this Agreement, the other Financing Documents or the Collateral, second, to all fees, costs, indemnities and expenses incurred by or owing to any Lender with respect to this Agreement, the other Financing Documents or the Collateral, third, to accrued and unpaid interest on the DIP Obligations, fourth, to the principal amount of the DIP Obligations outstanding, and fifth, to any other indebtedness or obligations of the Borrower owing to the Administrative Agent or any Lender under the Financing Documents.

After Event of Default. Following the occurrence and continuance of an Event of Default, the Administrative Agent shall apply any and all payments received by the Administrative Agent in respect of the Obligations, and any and all proceeds of Collateral received by the Administrative Agent, in the following order: first, to all fees, costs, indemnities, liabilities, obligations and expenses incurred by or owing to the Administrative Agent with respect to this Agreement, the other Financing Documents or the Collateral, second, to all fees, costs, indemnities and expenses incurred by or owing to any Lender with respect to this Agreement, the other Financing Documents or the Collateral, third, to accrued and unpaid interest on the Obligations, fourth, to the principal amount of the Obligations outstanding, and fifth, to any other indebtedness or obligations of the Borrower owing to the Administrative Agent or any Lender under the Financing Documents.