Common use of Application and Sharing of Payments Following Acceleration Clause in Contracts

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 3 contracts

Samples: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.), Agreement (Baytex Energy Corp.)

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Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretiondiscretion and subject to the terms of any Second Lien Intercreditor Agreement, all monies and property received by the Lenders for application in respect of the Secured Obligations subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 2 contracts

Samples: Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations and the Financial Instrument Obligations under Lender Financial Instruments subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 2 contracts

Samples: Credit Agreement (Pacific Energy Partners Lp), Credit Agreement (Trident Resources Corp)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations, Cash Management Obligations and Lender Financial Instrument Obligations subsequent to the Adjustment Time and all monies received as a result of a realization upon any of the Security guarantees delivered pursuant to Section 11.1 (collectively, the "Realization Proceeds") shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations, Cash Management Obligations and the Financial Instrument Obligations under Lender Financial Instruments subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the "Realization Proceeds") shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Hammerhead Energy Inc.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations, the Bank Product Obligations and the Financial Instrument Obligations under Lender Financial Instruments subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security Subsidiary Guarantees and the Parent Guarantee (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Enerflex Ltd.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations and Lender Financial Instrument Obligations subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the "Realization Proceeds") shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

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Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations and the Financial Instrument Obligations under Lender Financial Instruments subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the "Realization Proceeds") shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretion, all monies and property received by the Lenders for application in respect of the Secured Obligations, Cash Management Obligations and the Financial Instrument Obligations under Lender Financial Instruments subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Hammerhead Energy Inc.)

Application and Sharing of Payments Following Acceleration. Except as otherwise agreed to by all of the Lenders in their sole discretiondiscretion and subject to the Collateral Agent and Intercreditor Agreement, all monies and property received by the Lenders for application in respect of the Secured Obligations subsequent to the Adjustment Time and all monies received as a result of a realization upon the Security (collectively, the “Realization Proceeds”) shall be applied and distributed to the Lenders and the Agent in the order and manner set forth below:

Appears in 1 contract

Samples: Credit Agreement (Greenfire Resources Ltd.)

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