Application of Proceeds After Acceleration. Except as otherwise provided in the Security Documents with respect to application of proceeds to any reimbursements due the Administrative Agent thereunder, if the Administrative Agent collects or receives money pursuant to the Loan Documents after the acceleration of the Obligations as provided in Section 10.1, the Administrative Agent shall distribute all money so collected or received: (a) first to any reimbursements due the Administrative Agent hereunder; and (b) then ratably to the payment of the Obligations (and among the outstanding Obligations in the manner provided in Section 4.1) and the Lender Hedge Obligations, until such Obligations and Lender Hedge Obligations are paid in full. The Administrative Agent shall have no responsibility to determine the existence or amount of Lender Hedge Obligations and may reserve from the application of amounts under this Section amounts distributable in respect of Lender Hedge Obligations until it has received evidence satisfactory to it of the existence and amount of such Lender Hedge Obligations.
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Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)
Application of Proceeds After Acceleration. Except as otherwise provided in the Security Documents with respect to application of proceeds to any reimbursements due the Administrative Agent thereunder, if the Administrative Agent collects or receives money pursuant to the Loan Documents after the acceleration of the Obligations as provided in Section 10.18.1, the Administrative Agent shall promptly distribute all money so collected or received:
(a) first to any reimbursements due the Administrative Agent hereunder; and
(b) then ratably to the payment of the Obligations Obligations, including LC Obligations, (and among the outstanding Obligations in the manner provided in Section 4.1) 3.1), and the Lender Hedge Hedging Obligations, until such Obligations and Lender Hedge Hedging Obligations are paid in full. The Administrative Agent shall have no responsibility to determine the existence or amount of Lender Hedge Hedging Obligations and may reserve from the application of amounts under this Section amounts distributable in respect of Lender Hedge Hedging Obligations until it has received evidence satisfactory to it of the existence and amount of such Lender Hedge Hedging Obligations.
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