Common use of Application of Liquidation Proceeds Clause in Contracts

Application of Liquidation Proceeds. In the event that any liquidation proceeds with respect to any Collateral cannot be identified, after reasonable efforts by the Servicer or other Person required to make such identification, as relating to the Lending Facility Pool or a specific Designated Pool, then any such amounts will be deemed to constitute Collections with respect to the Lending Facility Pool and each Designated Pool, to be allocated to such pools pro rata based on the outstanding Lending Facility Balance and the Exchange Note Balances of the related Exchange Notes.

Application of Liquidation Proceeds. In the event that any liquidation proceeds with respect to any Collateral cannot be identified, after reasonable efforts by the Servicer or other Person required to make such identification, as relating to the Lending Revolving Facility Pool or a specific Designated Reference Pool, then any such amounts will be deemed to constitute Collections with respect to the Lending Revolving Facility Pool and each Designated Reference Pool, to be allocated to such pools pro rata based on the outstanding Lending Revolving Facility Balance and the Exchange Note Balances of the related Exchange Notes.

Application of Liquidation Proceeds. In the event that any liquidation proceeds with respect to any Collateral cannot be identified, after reasonable efforts by the Closed-End Servicer or other Person required to make such identification, as relating to the Lending Warehouse Facility Pool or a specific Designated Reference Pool, then any such amounts will be deemed to constitute Closed-End Collections with respect to the Lending Warehouse Facility Pool and each Designated Reference Pool, to be allocated to such pools pro rata based on the outstanding Lending Facility Balance Aggregate Loan Amount and the Exchange Note Balances of the related Closed-End Exchange Notes.