Common use of Application of Revenues and Other Funds After Default Clause in Contracts

Application of Revenues and Other Funds After Default. Subject to the Senior Loan Agreement, all amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of Article V of this Loan Agreement, or otherwise held by the Trustee upon the occurrence of an Event of Default, shall be applied by the Trustee in the following order: First, to the payment of the fees, costs and expenses of the Trustee in declaring such Event of Default and in carrying out the provisions of this Article V, including reasonable compensation to its agents, attorneys and counsel and any outstanding fees and expenses of the Trustee; and Second, to the payment of the whole amount of interest on and principal of the Loan and any Parity Debt then due and unpaid, with interest on overdue installments of principal and interest to the extent permitted by law at the net effective rate of interest then borne by the Loan and such Parity Debt; provided, however, that in the event such amounts shall be insufficient to pay in full the full amount of such interest and principal, then such amounts shall be applied in the following order of priority:

Application of Revenues and Other Funds After Default. Subject to the Senior Loan Agreement, all All amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of Article V of this Loan Agreement, or otherwise held by the Trustee upon the occurrence of an Event of Default, shall be applied by the Trustee in the following order: First, to the payment of the fees, costs and expenses of the Trustee in declaring such Event of Default and in carrying out the provisions of this Article V, including reasonable compensation to its agents, attorneys and counsel and any outstanding fees and expenses of the Trustee; and Second, to the payment of the whole amount of interest on and principal of the Loan and any Parity Debt then due and unpaid, with interest on overdue installments of principal and interest to the extent permitted by law at the net effective rate of interest then borne by the Loan and such Parity Debt; provided, however, that in the event such amounts shall be insufficient to pay in full the full amount of such interest and principal, then such amounts shall be applied in the following order of priority:

Application of Revenues and Other Funds After Default. Subject to the Senior Loan Agreement, all All amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of Article V of this Loan Agreement, or otherwise held by the Trustee upon the occurrence of an Event of Default, Indenture shall be applied by the Trustee in the following order: order upon presentation of the several Bonds, and the stamping thereon of the amount of the payment if only partially paid, or upon the surrender thereof if fully paid First, to the payment of the fees, costs and expenses of the Trustee in declaring such Event of Default and in carrying out the provisions of this Article VVIII, including reasonable compensation to its agents, attorneys and counsel and any outstanding fees and expenses of the Trustee; and Second, to the payment of the whole amount of interest on and principal of the Loan and any Parity Debt Bonds then due and unpaid, with interest on overdue installments of principal and interest to the extent permitted by law at the net effective rate of interest then borne by the Loan and such Parity DebtOutstanding Bonds; provided, however, that in the event such amounts shall be insufficient to pay in full the full amount of such interest and principal, then such amounts shall be applied in the following order of priority:

Application of Revenues and Other Funds After Default. Subject to the Senior Loan Agreement, all All amounts received by the Trustee pursuant to any right given or action taken by the Trustee under the provisions of Article V of this Loan Agreement, or otherwise held by Indenture relating to the Trustee upon the occurrence of an Event of Default, Bonds and Parity Bonds shall be applied by the Trustee in the following orderorder upon presentation of the several Bonds and Parity Bonds: First, to the payment of the fees, costs and expenses of the Trustee in declaring such Event of Default and in carrying out the provisions of this Article V8, including reasonable compensation to its agents, attorneys and counsel counsel, and any to the payment of all other outstanding fees and expenses of the Trustee; and Second, to the payment of the whole amount of interest on and principal of the Loan Bonds and any Parity Debt Bonds then due and unpaid, with interest on overdue installments of principal and interest to the extent permitted by law at the net effective rate of interest then borne by the Loan Outstanding Bonds and such Parity DebtBonds; provided, however, that in the event such amounts shall be insufficient to pay in full the full amount of such interest and principal, then such amounts shall be applied in the following order of priority: