Common use of Application of Moneys During Continuation of Event of Default Clause in Contracts

Application of Moneys During Continuation of Event of Default. (a) So long as an Event of Default of which the Administrative Agent shall have given notice to the Lenders shall continue, all moneys received by the Administrative Agent from the Company under the Loan Documents shall, except as otherwise required by law, be distributed by the Administrative Agent on the dates selected by the Administrative Agent (individually, a "Distribution Date" and collectively, the "Distribution Dates") as follows: first, to payment of the unreimbursed expenses for which the Administrative Agent or any Lender is to be reimbursed pursuant to Section 9.03 and unpaid fees owing to the Administrative Agent pursuant to the Fee Letter; second, to the ratable payment of accrued but unpaid interest on the Obligations; third, to the ratable payment of unpaid principal of the Obligations; fourth, to the ratable payment of all other amounts payable by the Company hereunder; fifth, to the ratable payment of all other Obligations, until all Obligations shall have been paid in full; and finally, to payment to the Company, or its successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds.

Application of Moneys During Continuation of Event of Default. (a) So long as an Event of Default of which the Administrative Agent shall have given notice to the Lenders shall continue, all moneys received by the Administrative Agent (i) from the Company any Obligor under the Loan Documents shall, except as otherwise required by law, be distributed by the Administrative Agent on the dates selected by the Administrative Agent (individually, a "Distribution Date" and collectively, the "Distribution Dates") as follows: first, to payment of the unreimbursed expenses for which the Administrative Agent or any Lender is to be reimbursed pursuant to Section 9.03 11.03 and to any unpaid fees owing under the Loan Documents by the Obligors to the Administrative Agent pursuant to the Fee LetterAgent; second, to the ratable payment of accrued but unpaid interest on the ObligationsLoans; third, to the ratable payment of unpaid principal of the ObligationsLoans; fourth, to the ratable payment of all other amounts payable by the Company Obligors hereunder; fifth, to secure the repayment and discharge of the outstanding amount of all LC Exposure; sixth, to the ratable payment of all other Obligations, until all Obligations shall have been paid in full; and finally, to payment to the CompanyObligors, or its their respective successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds.

Application of Moneys During Continuation of Event of Default. (a) So long as an Event of Default of which the Administrative Agent shall have given notice to the Lenders shall continue, all moneys received by the Administrative Agent from the Company either Borrower under the Loan Documents shall, except as otherwise required by law, be distributed by the Administrative Agent on the dates selected by the Administrative Agent (individually, a "Distribution Date" and collectively, the "Distribution Dates") as follows: first, to payment of the unreimbursed expenses for which the Administrative Agent or any Lender is to be reimbursed pursuant to Section 9.03 10.03 and unpaid fees owing to the Administrative Agent pursuant to the Fee Letter; second, to the ratable payment of accrued but unpaid interest on the Obligations; third, to the ratable payment of unpaid principal of the Obligations; fourth, to the ratable payment of all other amounts payable by the Company Borrowers hereunder; fifth, to the ratable payment of all other Obligations, until all Obligations shall have been paid in full; and finally, to payment to the CompanyBorrowers, or its their respective successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds.