Application of Funds After Default. Except as otherwise herein provided, upon the occurrence of an Event of Default hereunder, Beneficiary may, at any time without notice, apply any or all sums or amounts received and held by Beneficiary to pay insurance premiums, Impositions, or either of them, or as Rents or income of the Security, or as insurance or condemnation proceeds, and all other sums or amounts received by Beneficiary from or on account of Trustor or the Security, or otherwise, against any indebtedness or Obligation of the Trustor secured hereby, in such manner and order as Beneficiary may elect. The receipt, use or application of any such sum or amount shall not be construed to affect the maturity of any indebtedness secured by this Deed of Trust, or any of the rights or powers of Beneficiary under the terms of the Loan Agreement, this Deed of Trust or the Note, or any of the Obligations of Trustor or any guarantor under any other instruments or documents now or hereafter delivered in connection with the Loan Agreement or to cure or waive any default or notice of default under the Loan Agreement or any such instruments or documents; or to invalidate any act of Trustee or Beneficiary.
Application of Funds After Default. Except as otherwise herein provided, upon the occurrence of an Event of Default hereunder, Beneficiary may, at any time without notice, apply any or all sums or amounts received and held by Beneficiary to pay insurance premiums, Impositions, or either of them, or as rents or income of the Property, or as insurance or condemnation proceeds, and all other sums or amounts received by Beneficiary from or on account of Trustor or the Property, or otherwise, upon any Secured Obligation, in such manner and order as Beneficiary may elect, notwithstanding that such Secured Obligation may not yet be due. The receipt, use or application of any such sum or amount shall not be construed to affect the maturity of any indebtedness secured by this Deed of Trust, or any of the rights or powers of Beneficiary or Trustee under the terms of the Authority Loan Documents, or any of the obligations of Trustor or any guarantor under the Authority Loan Documents; or to cure or waive any default or notice of default under any of the Authority Loan Documents; or to invalidate any act of Trustee or Beneficiary.
Application of Funds After Default. If at any time the moneys in the Sinking Fund shall not be sufficient to pay the principal of or the interest on the Bonds and the Qualified Hedge Payments as the same become due and payable, such moneys, together with any moneys then available or thereafter becoming available for such purpose, whether through the exercise of the remedies provided for in this Article or otherwise, shall be applied as follows:
Application of Funds After Default. Except as otherwise provided in this Mortgage, upon the occurrence of an Event of Default, Mortgagee may at any time, with notice to Mortgagor if providing such notice will not adversely delay the exercise of Mortgagee's rights or remedies, apply to any Secured Obligation, in such manner and order as Mortgagee may elect, even if such Secured Obligation may not yet be due, any amounts received and held by Mortgagee to pay insurance premium or taxes or as Rents, or as insurance or condemnation proceeds, and all other amounts received by Mortgagee from or on account of Mortgagor or the Collateral, or otherwise. The receipt, use or application of any such amounts shall not affect the maturity of any Secured Obligation, any of the rights or powers of Mortgagee under the terms of any Loan Document, or any of the obligations of Mortgagor or any guarantor under any Loan Document; or waive any Event of Default or notice of default under the Loan Documents; or invalidate any act of Mortgagee.
Application of Funds After Default. Except as otherwise provided herein or in any other Loan Document, upon the occurrence and during the continuation of an Event of Default hereunder, Mortgagee may, at any time without notice, apply any or all sums or amounts received and held by Mortgagee to pay insurance premiums, Impositions, or either of them, or as rents or income of the Mortgage Estate, or as insurance or condemnation proceeds, and all other sums or amounts received by Mortgagee from or on account of Mortgagor or the Mortgage Estate, or otherwise, upon any indebtedness or obligation of the Mortgagor secured hereby, in such manner and order as Mortgagee may elect, notwithstanding that said indebtedness or the performance of said obligation may not yet be due according to the terms thereof. The receipt, use or application of any such sums or amounts shall not be construed to affect the maturity of any indebtedness secured by this Mortgage, or any of the rights or powers of Mortgagee under the terms of this Mortgage, the Subsidiary Guaranty or any other Loan Document, or any obligations of Mortgagor or any other obligor under any of the other Loan Documents, or to cure or waive any default or notice of default; or to invalidate any act of Mortgagee.
Application of Funds After Default. Any funds received by the Banks or the Agent for the benefit of the Banks with respect to any Obligations after the Credit Termination Date, including proceeds of the Collateral, shall be applied as follows: (i) first, to reimburse to the Agent all unreimbursed costs and expenses paid or incurred by the Agent that are payable or reimbursable by the Borrower or any Subsidiary hereunder or under the Security Documents; (ii) second, to reimburse the Banks pro rata for any amounts due to the Banks under section 11.15; (iii) third, to reimburse to the Banks pro rata all unreimbursed costs and expenses paid or incurred by the Banks (including costs and expenses incurred by the Agent as a Bank that are not reimbursable as provided in the preceding clauses) that are payable or reimbursable by the Borrower or any Subsidiary hereunder; (iv) fourth, to the payment of accrued and unpaid fees due hereunder and all other amounts due hereunder (other than the Loans and interest accrued thereon); (v) fifth, to the payment of the Loans of each of the Banks and interest accrued thereon (which payments shall be pro rata to each of the Banks in accordance with the amount of the Loans outstanding) and to the payment (pari passu with the foregoing) of any Rate Hedging Obligations; (vi) sixth, to the payment of the other obligations. Any remaining amounts shall be paid to the Borrower or such other Persons as shall be legally entitled thereto. Except as expressly provided otherwise herein, the Banks may apply, and reverse and reapply, payments and proceeds of the Collateral to the Obligations in such order and manner as the Banks determine in their absolute discretion.
Application of Funds After Default. Except as otherwise herein provided, upon the occurrence of an Event of Default hereunder, Beneficiary may, but shall be under no obligation to, at any time without notice, apply any or all sums or amounts received and held by Beneficiary to pay insurance premiums, Impositions, or either of them, or as rents or income of the Premises, or as insurance or condemnation proceeds, and all other sums or amounts received by Beneficiary from or on account of Trustor or Additional Trustor or the Premises, or otherwise, upon any indebtedness or obligation of the Trustor secured hereby, in such manner and order as Beneficiary may elect, notwithstanding that said indebtedness of the performance of said obligation may not yet be due. The receipt, use or application of any such sum or amount shall not be construed to affect the maturity of any indebtedness secured by this Deed of Trust, or any of the rights or powers of Beneficiary or Trustee under the terms of the Loan Documents, or any of the obligations of Trustor or any guarantor under the Loan Documents; or to cure or waive any default or notice of default under any of the Loan Documents; or to invalidate any act of Trustee or Beneficiary.
Application of Funds After Default. Except as otherwise herein provided, upon the occurrence of an Event of Default hereunder, Lender may, at any time without notice, apply any or all sums or amounts received and held by Lender to pay insurance premiums, Impositions, or either of them, or as rents or income of the Trust Estate, or as insurance or condemnation proceeds, and all other sums or amounts received by Lender from or on account of Borrower or the Trust Estate, or otherwise, upon any indebtedness or obligation of the Borrower secured hereby, in such manner and order as Lender may elect, notwithstanding that said indebtedness or the performance of said obligation may not yet be due. The receipt, use or application of any such sum or amount shall not be construed to affect the maturity of any indebtedness secured by this Deed of Trust, or any of the rights or powers of Lender or Trustee under the terms of the Financing Documents, or any of the obligations of Borrower or any guarantor under the Financing Documents; or to cure or waive any default or notice of default under any of the Financing Documents; or to invalidate any act of Trustee or Lender. Section 4.07.
Application of Funds After Default. If an Event of Default shall occur and be continuing, all amounts then held or thereafter received by the Trustee under any of the provisions of this Trust Agreement shall be applied by the Trustee as follows and in the following order:
