Common use of Application of Proceeds of Foreclosure Sale Clause in Contracts

Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure sale of the Mortgaged Property shall be distributed and applied in the following order of priority: First, on account of all costs and expenses incident to the foreclosure proceedings, including all such items as are mentioned in the preceding paragraph hereof; second, all other items which under the terms hereof constitute secured indebtedness additional to that evidenced by the Notes, with interest thereon as herein provided; third, all principal and interest remaining unpaid on the Notes; fourth, any overplus to Mortgagor, its successors or assigns, as their rights may appear.

Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure sale of the Mortgaged Property shall be distributed and applied in the following order of priority: Firstfirst, on account of to all costs and expenses incident to the foreclosure proceedings, including all such items as are mentioned in the preceding paragraph Section 4.4 hereof; second, to all other items which may under the terms hereof constitute secured indebtedness additional to that evidenced by Secured Indebtedness in accordance with the Notes, with interest thereon as herein provided; third, all principal and interest remaining unpaid on the Notes; fourth, any overplus to Mortgagor, its successors or assigns, as their rights may appearCredit Agreement.

Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure sale of the Mortgaged Property shall be distributed and applied in the following order of priority: First, on account of all costs and expenses incident to the foreclosure proceedings, including all such items as are mentioned in the preceding paragraph hereof; , second, all other items which under the terms hereof constitute additional secured indebtedness additional to that evidenced by the Notes, with interest thereon as herein providedindebtedness; third, all principal and interest remaining unpaid on the NotesNotes or otherwise pursuant to the Credit Agreement; fourth, any overplus to Mortgagor, its successors or assigns, as their rights may appear.

Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure sale of the Mortgaged Property shall be distributed and applied in the following order of priority: Firstfirst, on account of to all costs and expenses incident to the foreclosure proceedings, including all such items as are mentioned in the preceding paragraph hereofSection 4.4 above; second, all other items which under as provided in Section 6.5 of the terms hereof constitute secured indebtedness additional to that evidenced by the Notes, with interest thereon as herein provided; third, all principal Guarantee and interest remaining unpaid on the Notes; fourth, any overplus to Mortgagor, its successors or assigns, as their rights may appearCollateral Agreement.