Common use of Application of Proceeds; Excess Monies Clause in Contracts

Application of Proceeds; Excess Monies. The proceeds of any sale made under or by virtue of this Article, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, together with any other sums which may then be held by Mortgagee pursuant to this Mortgage, whether under the provisions of this Article or otherwise, shall be applied as follows: (a) first, to Mortgagee for payment of the costs and expenses of such sale and of all expenses, liabilities and advances made or incurred by Mortgagee under this Mortgage, and all taxes and assessments due upon the Mortgaged Property at the time of such sale and to discharge any lien or other encumbrance prior to this Mortgage, except any taxes, assessments, liens or other encumbrances subject to which the Mortgaged Property shall have been sold, (b) second, to the payment of whatever sums may then remain unpaid on account of the Secured Indebtedness with interest thereon on the date of payment in accordance with any order of priorities specified in the Intercreditor Agreement, (c) third, to the payment of any other sums required to be paid by Mortgagor pursuant to any provisions of the Intercreditor Agreement or any of the other Loan Documents, including, without limitation, to the payment of all expenses, liabilities and advances made or incurred by Mortgagee under this Mortgage or in connection with the enforcement thereof, together with interest on all such advances,

Application of Proceeds; Excess Monies. The proceeds of -------------------------------------- any foreclosure sale made under or by virtue of this Article, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, together with any other sums which may then be held by Mortgagee Beneficiary pursuant to this MortgageDeed of Trust, whether under the provisions of this Article or otherwise, shall be applied as follows: (a) first, to Mortgagee Beneficiary for payment of the costs and expenses (including, without limitation, all trustee's fees and expenses and all reasonable attorneys' fees, expenses and charges through all appeals) of such sale and of all expenses, liabilities and advances made or incurred by Mortgagee Beneficiary under this MortgageDeed of Trust, and all taxes and assessments due upon the Mortgaged Trust Property at the time of such sale and to discharge any lien or other encumbrance prior to this Mortgagesale, except any taxes, assessments, liens taxes or other encumbrances assessments subject to which the Mortgaged Trust Property shall have been sold,; (b) second, to the payment of whatever sums may then remain unpaid on account of the Secured Indebtedness with interest thereon on the date of payment in accordance with the terms and any order of priorities specified in the Intercreditor Credit Agreement,; (c) third, to the payment of any other sums required to be paid by Mortgagor Grantor pursuant to any provisions of the Intercreditor Agreement or any of the other Loan Fundamental Documents, including, without limitation, to the payment of all expenses, liabilities and advances made or incurred by Mortgagee Beneficiary under this Mortgage Deed of Trust or in connection with the enforcement thereof, together with interest on all such advances; and, (d) the balance to Grantor in accordance with the terms and any order of priorities specified in the Credit Agreement.

Application of Proceeds; Excess Monies. The proceeds of any sale made under or by virtue of this Article, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, together with any other sums which may then be held by Trustee or Mortgagee pursuant to this Mortgage, whether under the provisions of this Article or otherwise, shall be applied in accordance with Applicable Law, and to the extent not inconsistent, as follows: (a) first, to Mortgagee for payment of the costs and expenses (including, without limitation, all reasonable attorneys' fees, expenses and charges through all appeals) of such sale and of all expenses, liabilities and advances made or incurred by Trustee or Mortgagee under this Mortgage, and all taxes and assessments due upon the Mortgaged Property at the time of such sale and to discharge any lien or other encumbrance prior to this Mortgagesale, except any taxes, assessments, liens taxes or other encumbrances assessments subject to which the Mortgaged Property shall have been sold,; (b) second, to the payment of whatever sums may then remain unpaid on account of the Secured Indebtedness with interest thereon on from the date of payment such sums were required to be paid in accordance with the terms of the Credit Agreement, the Fundamental Documents or other documents related to any order of priorities specified in the Intercreditor AgreementSecured Indebtedness; and, (c) third, the balance to whomsoever may be lawfully entitled to receive the payment of any other sums required to be paid by Mortgagor pursuant to any provisions of the Intercreditor Agreement or any of the other Loan Documents, including, without limitation, to the payment of all expenses, liabilities and advances made or incurred by Mortgagee under this Mortgage or in connection with the enforcement thereof, together with interest on all such advances,same.

Application of Proceeds; Excess Monies. The proceeds of any -------------------------------------- foreclosure sale made under or by virtue of this Article, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, together with any other sums which may then be held by Mortgagee pursuant to this Mortgage, whether under the provisions of this Article or otherwise, shall be applied as follows: (a) first, to Mortgagee for payment of the costs and expenses (including, without limitation, all reasonable attorneys' fees, expenses and charges through all appeals) of such sale and of all expenses, liabilities and advances made or incurred by Mortgagee under this Mortgage, and all taxes and assessments due upon the Mortgaged Property at the time of such sale and to discharge any lien or other encumbrance prior to this Mortgagesale, except any taxes, assessments, liens taxes or other encumbrances assessments subject to which the Mortgaged Property shall have been sold,; (b) second, to the payment of whatever sums may then remain unpaid on account of the Secured Indebtedness with interest thereon on the date of payment in accordance with the terms and any order of priorities specified in the Intercreditor Credit Agreement,; (c) third, to the payment of any other sums required to be paid by Mortgagor pursuant to any provisions of the Intercreditor Agreement or any of the other Loan Fundamental Documents, including, without limitation, to the payment of all expenses, liabilities and advances made or incurred by Mortgagee under this Mortgage or in connection with the enforcement thereof, together with interest on all such advances; and, (d) the balance to Mortgagor in accordance with the terms and any order of priorities specified in the Credit Agreement.

Application of Proceeds; Excess Monies. The proceeds of any sale made under or by virtue of this Article, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, together with any other sums which may then be held by Mortgagee Beneficiary pursuant to this MortgageDeed of Trust, whether under the provisions of this Article or otherwise, shall be applied as follows: (a) first, to Mortgagee Trustee or Beneficiary, as applicable, for payment of the costs and expenses of such sale and of all expenses, liabilities and advances made or incurred by Mortgagee Trustee or Beneficiary, as applicable, under this MortgageDeed of Trust, and all taxes and assessments due upon the Mortgaged Trust Property at the time of such sale and to discharge any lien or other encumbrance prior to this MortgageDeed of Trust, except any taxes, assessments, liens or other encumbrances subject to which the Mortgaged Trust Property shall have been sold, (b) second, to the payment of whatever sums may then remain unpaid on account of the Secured Indebtedness with interest thereon on the date of payment in accordance with any order of priorities specified in the Intercreditor Agreement, (c) third, to the payment of any other sums required to be paid by Mortgagor Grantor pursuant to any provisions of the Intercreditor Agreement or any of the other Loan Documents, including, without limitation, to the payment of all expenses, liabilities and advances made or incurred by Mortgagee Beneficiary under this Mortgage Deed of Trust or in connection with the enforcement thereof, together with interest on all such advances,