Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any Disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied to the Senior Debt in the order and manner set forth in the Senior Debt Documents until such time as the Senior Debt is Paid in Full.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied in accordance with the terms of the Senior Loan Documents or as otherwise consented to by Agent and Senior Lenders until such time as the Senior Debt is indefeasibly paid in full in cash and all commitments to lend under the Senior Loan Documents have been terminated.
Application of Proceeds from Sale or other Disposition of the Collateral. (a) In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be distributed and applied as follows: (a) first, to Agent to be applied in accordance with the terms of the Senior Debt Documents until such time as the Senior Debt (other than Excluded Senior Debt) is paid in full in cash (or other consideration acceptable to Agent in its sole discretion); (b) second, to the Subordinated Creditor to be applied in accordance with the Subordinated Debt Documents (as if demand for such payment shall have been made under the Subsidiary Guaranty, whether or not such demand has been made) until the Subordinated Debt (subject to the limitation set forth in Section 3.2 below) is paid in full in cash (or other consideration acceptable to each Subordinated Creditor in its sole discretion); (c) third, to Agent to be applied in accordance with the terms of the Senior Debt Documents until such time as all other Senior Debt not paid pursuant to clause (a) is paid in full in cash (or such other consideration acceptable to Agent in its sole discretion); and (d) fourth, to the Subordinated Creditor to be applied in accordance with the Subordinated Debt Documents until such time as all other Subordinated Debt not paid pursuant to clause (b) is paid in full in cash (or such other consideration acceptable to Subordinated Creditor in its sole discretion).
(b) Notwithstanding the foregoing provisions of subsection (a) above, or any other provision of this Agreement to the contrary, in the event of (i) the sale, transfer or other disposition of the Collateral by Agent on behalf of the Senior Lenders pursuant to any foreclosure or similar action initiated by Agent as provided in Section 2.6, or (ii) any Distribution in connection with the sale, transfer or other disposition of the Collateral pursuant to any Proceeding, at any time while any Subordinated Debt is then outstanding, it is the parties’ intent that the cash proceeds derived therefrom (net of all costs and expenses incurred by Agent in giving effect to such foreclosure or other proceeding) shall be shared between Senior Lenders and Subordinated Creditor, upon final collection and receipt, thereof, on a pro rata basis, based on the respective amounts of the Senior Debt (other than, for avoidance of doubt, any Excluded Senior Debt) and the Subordinated Debt then outstanding (exclu...
Application of Proceeds from Sale or other Disposition of the Collateral. Until the Subordination Termination Date, in the event of any sale, transfer, lease, license or other disposition (including a casualty loss or taking through eminent domain) of the Collateral or any other asset of the Company, the proceeds resulting therefrom (including proceeds from insurance or any other Enforcement Action) shall be applied in accordance with the terms of the Senior Debt Documents or as otherwise consented to by Senior Creditor Agent.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied in accordance with the terms of the Senior Debt Documents or as otherwise consented to by Agent and Senior Lenders until such time as the Senior Debt is indefeasibly paid in full in cash and all commitments to lend under the Senior Debt Documents have been terminated.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied, first, in accordance with the terms of the Senior Debt Documents until such time as the Senior Debt is paid in full and, thereafter, shall be applied in accordance with the terms of this Guaranty. Until the Senior Debt has been paid in full, the Guarantied Party agrees that the Senior Lender Parties, acting in a commercially reasonable manner, shall have the sole and exclusive right to adjust settlement with respect to any insurance coverage for any Collateral.
Application of Proceeds from Sale or other Disposition of the Collateral. Subject to the provisions of this Section 2, in the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain or expropriation) of any Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied in accordance with the terms of the Senior Debt Documents or as otherwise consented to by Senior Lender until such time as the Senior Debt in Paid in Full.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied first to the Subordinated Debt in the order and manner determined by Subordinated Creditors in accordance with the Subordinated Debt Documents until such time as the Subordinated Debt is Paid in Full, thereafter, all remaining proceeds shall be applied to the Senior Debt.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer, or other disposition (including a casualty loss or taking through eminent domain) of all or any portion of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied to repay the Senior Debt in accordance with (and to the extent required by) the terms of the Senior Debt Documents and the Senior Debt Intercreditor Agreement until all Senior Debt has been Paid in Full, prior to any repayment of the Subordinated Debt in accordance with the terms of the Subordinated Debt Documents.
Application of Proceeds from Sale or other Disposition of the Collateral. In the event of any sale, transfer or other disposition (including a casualty loss or taking through eminent domain) of the Collateral, the proceeds resulting therefrom (including insurance proceeds) shall be applied in accordance with the terms of the Loan Documents or as otherwise consented to by Agent until such time as the Liabilities are indefeasibly paid in full in cash and all commitments to lend under the Loan Documents have been terminated.
