Common use of Allocation of Collateral Proceeds Clause in Contracts

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligations. Proceeds from any realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans if any proceeds remain after the full and indefeasible payment of the Term Loan and Declining Revolving Credit Loans. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligations. With respect to the proceeds of any other Collateral not specified in this Section above, the proceeds of such Collateral will be applied first to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Collateral and next to the Obligations in such order and priority as is required by applicable law, or in the absence of any such requirement, as determined by the Agent, pro rata based on each Lenders' respective Percentage in such Obligations.

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's obligations to Lenders with a Term Loan Commitment Lender under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. Proceeds from any realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans Loan if any proceeds remain after the full and indefeasible payment of the Term Loan and Declining Revolving Credit LoansLoan. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment Lender under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. With respect to the proceeds of any other Collateral not specified in this Section above, the proceeds of such Collateral will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Collateral and next to the Obligations in such order and priority as is determined by Lender or required by applicable law, or in the absence of any such requirement, as determined by the Agent, pro rata based on each Lenders' respective Percentage in such Obligations.

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's ’s obligations to Lenders with a Term Loan Commitment Lender under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, next to the Borrower's ’s obligations to Lenders with a Declining Revolving Credit Commitment Lender under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. Proceeds from any 442846.2 realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans Loan if any proceeds remain after the full and indefeasible payment of the Term Loan and Declining Revolving Credit LoansLoan. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's ’s obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Declining Revolving Credit Commitment Lender under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Term Loan Commitment Lender under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. With respect to the proceeds of any other Collateral not specified in this Section above, the proceeds of such Collateral will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Collateral and next to the Obligations in such order and priority as is determined by Lender or required by applicable law, or in the absence of any such requirement, as determined by the Agent, pro rata based on each Lenders' respective Percentage in such Obligations.

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's ’s obligations to Lenders with a Term Loan Commitment Lender under the Term Loan pro rata based on such Lenders' respective Percentage with respect Construction Loan, next to Borrower’s obligations under the Term Loan, next to Borrower’s obligations under the Soybean Facility Term Loan, next to Borrower's ’s obligations to Lenders with a Declining Revolving Credit Commitment Lender under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. Proceeds from any realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans Loan and such other Obligations if any proceeds remain after the full and indefeasible payment of the Construction Loan, Term Loan, Soybean Facility Term Loan and Declining Revolving Credit LoansLoan. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's ’s obligations to Lenders with a Revolving Credit Commitment Lender under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Declining Revolving Credit Commitment Lender under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's ’s obligations to Lenders with a Term Loan Commitment Lender under the Term Loan pro rata based on such Lenders' respective Percentage with respect Construction Loan, next to Borrower’s obligations to Lender under the Term Loan, next to Borrower’s obligations to Lender under the Soybean Facility Term Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligationsoutstanding. With respect to the proceeds of any other Collateral not specified in this Section above, the proceeds of such Collateral will be applied first to the Lenders' Lender's costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Collateral and next to the Obligations in such order and priority as is determined by Lender or required by applicable law, or in the absence of any such requirement, as determined by the Agent, pro rata based on each Lenders' respective Percentage in such Obligations.

Allocation of Collateral Proceeds. Each Lender and the Borrower acknowledge and agree that the Collateral secures the Obligations on a cross-collateralization basis. However, the Borrower and each Lender agree that the proceeds from any realization on the Mortgaged Property (other than inventory and accounts receivable and the proceeds thereof) as defined in the Mortgage, equipment and fixtures will be first applied to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Mortgaged Property, equipment and fixtures, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligations. Proceeds from any realization on such Mortgaged Property, equipment and fixtures will only be applied to the Revolving Credit Loans if any proceeds remain after the full and indefeasible payment of the Term Loan and Declining Revolving Credit Loans. In addition, the Borrower and each Lender acknowledge and agree that the proceeds from any realization on Collateral consisting of inventory, accounts receivable, Margin Account Equity and the products and proceeds thereof will be applied first to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such inventory, accounts receivable and Margin Account Equity Collateral, next to the Borrower's obligations to Lenders with a Revolving Credit Commitment under the Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Declining Revolving Credit Commitment under the Declining Revolving Credit Loan pro rata based on such Lenders' respective Percentage with respect to the Declining Revolving Credit Loan, next to the Borrower's obligations to Lenders with a Term Loan Commitment under the Term Loan pro rata based on such Lenders' respective Percentage with respect to the Term Loan, and last to any other Obligations which remain outstanding pro rata based on each Lender's respective Percentage in such Obligations. With respect to the proceeds of any other Collateral not specified in this Section above, the proceeds of such Collateral will be applied first to the Lenders' costs and expenses payable by Borrower pursuant to Section 7.05 and any other costs and expenses of foreclosure or otherwise realizing on such Collateral and next to the Obligations in such order and priority as is required by applicable law, or in the absence of any such requirement, as determined by the Agent, pro rata based on each Lenders' respective Percentage in such Obligations.. ARTICLE III