Common use of Application of Proceeds of Realization Clause in Contracts

Application of Proceeds of Realization. Despite any other provision of this Agreement, the proceeds realized from the exercise by the Lender of its powers, rights and remedies under the Loan Documents will be distributed in the following order: 10.3.1 first, in payment of all costs and expenses, including legal, accounting, receivers’ and other similar fees and disbursements, incurred by the Lender in connection with that realization; 10.3.2 second, in payment of all Liens or claims ranking in priority to the Security Interests created by the Security Documents; 10.3.3 third, against payment of the Outstanding Obligations; and 10.3.4 fourth, if all Outstanding Obligations have been paid in full, any surplus proceeds will be paid in accordance with Applicable Law.

Application of Proceeds of Realization. Despite any other provision of this Agreement, the proceeds realized from the exercise by the Lender of its powers, rights and remedies under the Loan Documents will be distributed in the following order: 10.3.1 9.4.1 first, in payment of all costs and expenses, including legal, accounting, receivers’ and other similar fees and disbursements, incurred by the Lender in connection with that realization; 10.3.2 9.4.2 second, in payment of all Liens or claims ranking in priority to the Security Interests created by the Security Documents; 10.3.3 9.4.3 third, against payment of the Outstanding Obligations, allocated as provided in Section 9.6; and 10.3.4 9.4.4 fourth, if all Outstanding Obligations have been paid in full, any surplus proceeds will be paid in accordance with Applicable Law.

Application of Proceeds of Realization. Despite any other provision of this Agreement, the proceeds realized from the exercise by the Lender of its powers, rights and remedies under the Loan Documents will be distributed in the following order: 10.3.1 9.3.1 first, in payment of all costs and expenses, including legal, accounting, receivers’ and other similar fees and disbursements, incurred by the Lender in connection with that realization; 10.3.2 9.3.2 second, in payment of all Liens or claims ranking in priority to the Security Interests created by the Security Documents; 10.3.3 9.3.3 third, against payment of the Outstanding Obligations, allocated as provided in Section 9.5; and 10.3.4 9.3.4 fourth, if all Outstanding Obligations have been paid in full, any surplus proceeds will be paid in accordance with Applicable Law.