Common use of Application of Proceeds of Sale or Cash Held as Collateral Clause in Contracts

Application of Proceeds of Sale or Cash Held as Collateral. All proceeds from the sale of Pledged Collateral sold pursuant to this Agreement and/or the cash held as Pledged Collateral hereunder shall be (a) retained by the Pledgee as cash collateral for the Obligations, or (b) at the election of the Pledgee, applied by the Pledgee as follows: FIRST: to payment of the costs and expenses of such sale, including the out-of-pocket expenses of the Pledgee, including the reasonable fees and out-of-pocket expenses of counsel employed in connection therewith, and to the payment of all advances made by the Pledgee for the account of the Pledgor hereunder, and the payment of all costs and expenses incurred by the Pledgee in connection with the administration and enforcement of this Agreement, to the extent that such advances, costs and expenses shall not have been reimbursed to the Pledgee;

Application of Proceeds of Sale or Cash Held as Collateral. All ---------------------------------------------------------- proceeds from the sale of Pledged Collateral sold pursuant to this Agreement and/or the cash held as Pledged Collateral hereunder shall be (a) retained by the Pledgee as cash collateral for the Obligations, or (b) at the election of the Pledgee, applied by the Pledgee as follows: FIRST: to payment of the costs and expenses of such sale, ----- including the out-of-pocket expenses of the Pledgee, including the reasonable fees and out-of-pocket expenses of counsel employed in connection therewith, and to the payment of all advances made by the Pledgee for the account of the Pledgor hereunder, and the payment of all costs and expenses incurred by the Pledgee in connection with the administration and enforcement of this Agreement, to the extent that such advances, costs and expenses shall not have been reimbursed to the Pledgee;

Application of Proceeds of Sale or Cash Held as Collateral. All The proceeds from the of sale of Pledged Collateral sold pursuant to this Agreement and/or the cash held as Pledged Collateral hereunder shall be (a) retained by the Pledgee as cash collateral for the ObligationsLiabilities, or (b) at the election of the Pledgee, applied by the Pledgee as follows: FIRST: to payment of the costs and expenses of such sale, including the out-of-pocket expenses of the Pledgee, including Pledgee and the reasonable fees and out-of-pocket expenses of counsel employed in connection therewith, and to the payment of all advances made by the Pledgee for the account of the Pledgor hereunder, and the payment of all costs and expenses incurred by the Pledgee in connection with the administration and enforcement of this Agreement, to the extent that such advances, costs and expenses shall not have been reimbursed to the Pledgee;