Common use of APPLICATION OF PROCEEDS AND RELEASE OF THE PLEDGE Clause in Contracts

APPLICATION OF PROCEEDS AND RELEASE OF THE PLEDGE. Any monies received by the Collateral Agent in respect of the Pledged Assets following the enforcement of the Pledge in accordance with clause 8 (Enforcement of the Pledge) above and/or under the rights and powers hereby conferred, shall be applied by the Collateral Agent as set forth below: FIRST, to the payment of all reasonable and documented or invoiced out-of-pocket costs and expenses incurred by the Collateral Agent in connection with such collection or sale or otherwise in connection with this Pledge Agreement, any other Loan Document or any of the CFC Secured Obligations, including all reasonable and documented or invoiced out-of-pocket court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of the Pledgor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document (but only to the extent that such costs or expenses are incurred in connection with the CFC Secured Obligations);

APPLICATION OF PROCEEDS AND RELEASE OF THE PLEDGE. Any monies received by the Collateral Agent in respect of the Pledged Assets following the enforcement of the Pledge in accordance with clause 8 (Enforcement of the Pledge) above and/or under the rights and powers hereby conferred, shall be applied by the Collateral Agent as set forth below: FIRST, to the payment of all reasonable and documented or invoiced out-of-pocket costs and expenses incurred by the Collateral Agent in connection with such collection or sale or otherwise in connection with this Pledge Agreement, any other Loan Document or any of the CFC Secured Obligations, including all reasonable and documented or invoiced out-of-pocket court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Loan Document on behalf of the Pledgor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document (but only Document, provided however that monies received by the Collateral Agent in respect of the CFC Collateral shall not be applied to the extent that such payment of any costs or and expenses are incurred by the Collateral Agent in connection with the CFC U.S. Secured Obligations);