Common use of APPLICATION OF FUNDS AFTER EVENT OF DEFAULT Clause in Contracts

APPLICATION OF FUNDS AFTER EVENT OF DEFAULT. If any Event of Default shall occur and be continuing, then notwithstanding anything to the contrary in this Section or elsewhere, Lender shall have all rights and remedies available under applicable law and under the Loan Documents. Without limitation of the foregoing, for so long as an Event of Default exists, Lender may apply any and all Receipts in the Deposit Account, the Lock Box Account, the Cash Trap Reserve Sub-Account, the Acquisition Reserve and any other Accounts or Sub-Accounts against all or any portion of any of the Obligations, in any order.

APPLICATION OF FUNDS AFTER EVENT OF DEFAULT. If any Event of Default shall occur and be continuing, then notwithstanding anything to the contrary in this Section or elsewhere, Lender shall have all rights and remedies available under applicable law and under the Loan Documents. Without limitation of the foregoing, for so long as an Event of Default exists, Lender may apply any and all Receipts in the Deposit Account, the Lock Box Account, the Cash Trap Reserve Sub-Account, the Acquisition Reserve Account and any other Accounts or Sub-Accounts against all or any portion of any of the Obligations, in any order.

APPLICATION OF FUNDS AFTER EVENT OF DEFAULT. If any Event of Default shall occur and be continuing, then notwithstanding anything to the contrary in this Section or elsewhere, Lender shall have all rights and remedies available under applicable law and under the Loan DocumentsDocuments for each of the Loans. Without limitation of the foregoing, for so long as an Event of Default exists, Lender may apply any and all Receipts in the Deposit Account, the Lock Box Account, the Cash Trap Reserve Sub-Account, the Acquisition Reserve and any other Accounts or Sub-Accounts against all or any portion of any of the ObligationsObligations of any or all of the Borrowers, in any order.