Common use of Application of Payments Under Guaranties Clause in Contracts

Application of Payments Under Guaranties. All payments received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to the payment of the costs and expenses of any collection or other realization under the Guaranties, including reasonable fees and expenses of Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, all in accordance with the terms of this Agreement and such Guaranty; (b) thereafter, to the extent of any excess such payments, to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof; (c) thereafter, to the extent of any excess such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall (except as otherwise agreed by Administrative Agent and the Requisite Lenders) be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to the payment of the costs and expenses of any collection or other realization under the Guaranties, including reasonable fees and expenses of Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, all in accordance with the terms of this Agreement and such Guaranty; (b) thereafter, to the extent of any excess such payments, to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof; (c) thereafter, to the extent of any excess such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (dc) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments received ---------------------------------------- by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to the payment of the all costs and expenses of any collection or other realization under the Guaranties, including reasonable fees and expenses of compensation to Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, in each case to the extent payable under this Agreement or the Collateral Documents, all in accordance with the terms of this Agreement and such Guaranty; (b) thereafter, to the extent of any excess of such payments, to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof; (c) thereafter, to the extent of any excess of such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess of such payments, to the payment to Parent Holdings or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments ---------------------------------------- received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to To the payment of the costs and expenses of any collection or other realization under the Guarantiessuch Guaranty, including reasonable fees and expenses of Administrative Agent and its agents and counsel, and all other expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, and all amounts for which Agent is entitled to compensation (including the fees described in subsection 2.3), reimbursement and indemnification under any such Guaranty or Loan Document and all advances made by Agent thereunder for the account of the applicable Guarantor or Loan Party, and to the payment of all costs and expenses paid or incurred by Agent in connection with the Guaranties and the Loan Documents, all in accordance with subsections 9.4, 10.2 and 10.3 and the other terms of this Agreement Agreement, the Guaranties and such GuarantyLoan Documents; (b) thereafter, to the extent of any excess such payments, payments to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof;; and (c) thereafter, to the extent of any excess such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to To the payment of the costs and expenses of any collection or other realization under the Guarantiessuch Guaranty, including reasonable fees and expenses of Administrative Agent and its agents and counsel, and all other expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, and all amounts for which Agent is entitled to compensation (including the fees described in subsection 2.3), reimbursement and indemnification under any such Guaranty or Loan Document and all advances made by Agent thereunder for the account of the applicable Guarantor or Loan Party, and to the payment of all costs and expenses paid or incurred by Agent in connection with the Guaranties and the Loan Documents, all in accordance with subsections 9.4, 10.2 and 10.3 and the other terms of this Agreement Agreement, the Guaranties and such Guaranty; Loan Documents; (b) thereafter, to the extent of any excess such payments, payments to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof; ; and (c) thereafter, to the extent of any excess such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to To the payment of the costs and expenses of any collection or other realization under the Guarantiessuch Guaranty, including reasonable fees and expenses of Administrative Agent and its agents and counsel, and all other expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, and all amounts for which Agent is entitled to compensation (including the fees described in subsection 2.3), reimbursement and indemnification under any such Guaranty or Loan Document and all advances made by Agent thereunder for the account of the applicable Guarantor or Loan Party, and to the payment of all costs and expenses paid or incurred by Agent in connection with the Guaranties and the Loan Documents, all in accordance with subsections 9.4, 10.2 and 10.3 and the other terms of this Agreement Agreement, the Guaranties and such GuarantyLoan Documents; (b) thereafter, to the extent of any excess such payments, payments to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof;; and (c) thereafter, to the extent of any excess such payments, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.

Application of Payments Under Guaranties. All payments received by Administrative Agent under any of the Guaranties at any time at which an Event of Default has occurred and is continuing, shall be applied promptly from time to time by Administrative Agent in the following order of priority: (a) to To the payment of the costs and expenses of any collection or other realization under any of the Guaranties, including reasonable fees and expenses of compensation to Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or incurred by Administrative Agent in connection therewith, all in accordance with the terms of this Agreement and such Guaranty; (b) thereafter, to the extent of any excess such payments, to the payment of all other Guarantied Obligations (as defined in such Guaranty) then due and payable for the ratable benefit of the holders thereof; (c) thereafter, to the extent of any excess such paymentspayment, to the payment of cash collateral for Letters of Credit for the ratable benefit of the Issuing Lenders thereof and holders of participations therein; and (d) thereafter, to the extent of any excess such payments, to the payment to Parent or to the applicable Subsidiary Guarantor or to whosoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct.