Application of Sale Proceeds. In the event of a sale of Shares, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Shares or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.
Application of Sale Proceeds. During the Reinvestment Period, all Sale Proceeds shall be applied to purchase additional Collateral Obligations in accordance with the Reinvestment Criteria and Section 3.4(a), as applicable, or to purchase Eligible Investments in accordance with the last paragraph of Section 12.2(a), or shall be applied in accordance with the Priority of Payments applicable thereto on the next succeeding Payment Date. After the Reinvestment Period, no Principal Proceeds may be reinvested in Collateral Obligations at any time.
Application of Sale Proceeds. Any amounts received from the Dealing by Attorney shall be applied in the way required by the Act and if there is no requirement, as follows:
(a) firstly, in paying the costs of the Dealing by Attorney;
(b) secondly, in discharging the liability of the Customer to ROL Holder for the amounts charged to ROL Holder under this Agreement;
(c) thirdly, in discharging the liability, if any, of the Customer in relation to the Customer’s Allocation to the chief executive under the Act;
(d) fourthly, in discharging, in accordance with the priorities of their registered interests, any liability owing by the Customer to a person who has a registered interest recorded over the Customer’s Allocation on the Water Allocations Register;
(e) fifthly, in payment to the Customer.
Application of Sale Proceeds. In the event of a sale of Collateral, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Collateral or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.
Application of Sale Proceeds. The proceeds of any sale of the Trust Estate pursuant to Section 6.04 hereof, together with any funds at the time held by the Trustee and not otherwise appropriated, shall be applied by the Trustee as set forth in Section 6.02 hereof.
Application of Sale Proceeds. The proceeds of Trustee’s public auction of the Property shall be applied in the following manner: (1) payment of the portion of the Debt attributable to the costs and expenses of the sale; (2) repayment of the portion of the Debt attributable to any sums expended or advanced by Lender (other than the Environmental Damages and costs incurred by Lender with respect to any Environmental Problem) under the terms of this Security Instrument, plus interest at the Default Rate; (3) payment of all other Debt and all other obligations of Borrower secured by this Security Instrument, in any order that Lender chooses; (4) repayment of the portion of the Debt attributable to the Environmental Damages and costs incurred by Lender with respect to any Environmental Problem under the terms of this Security Instrument, plus interest at the Default Rate; and (5) the remainder, if any, to satisfy the outstanding balance of obligations secured by any junior encumbrances in the order of their priority, then to Borrower or Borrower’s successor in interest.
Application of Sale Proceeds. Any amounts received from the Dealing by Attorney must be applied in the way required by the Water Act and if there is no requirement, as follows:
(a) firstly, in paying the costs of the Dealing by Attorney;
(b) secondly, in discharging the Customer’s liability under the Water Act to the chief executive under the Water Act;
(c) thirdly, in discharging the Secured Amounts;
(d) fourthly, in discharging the Customer’s liability for any outstanding debt owing to the holder of the Resource Operations Licence under the Customer’s distribution contract with the holder of the Resource Operations Licence;
(e) fifthly, in discharging, in accordance with the priorities of their registered interests, any liability owing by the Customer to a person who has a registered interest recorded over the Customer’s Allocation on the Water Allocations Register; and
(f) sixthly, in payment of the balance (if any) to the Customer.
Application of Sale Proceeds. The proceeds of any sale of the Trust Estate, together with any funds at the time held by the Indenture Trustee and not otherwise appropriated, shall be applied by the Indenture Trustee as set forth in Section 6.02 hereof, and then to the Issuer or whomsoever shall be lawfully entitled thereto.
Application of Sale Proceeds. AESOP Leasing II agrees that an amount equal to the product of (A) the applicable Loan Payment Allocation Percentage as of the beginning of the Related Month times (B) the sum of (i) all payments made by the Manufacturers and related auction dealers under the Manufacturer Programs with respect to Vehicles leased under the AESOP II Operating Lease, plus (ii) proceeds from the sale of Vehicles leased under the AESOP II Operating Lease to third parties (other than to the Manufacturer or pursuant to a Guaranteed Depreciation Program), in each case deposited in the Collection Account on any date, shall be applied, upon receipt thereof in the Collection Account, to prepay the Loan Principal Amount.
Application of Sale Proceeds. The proceeds from any sale of the Trust Assets (including any Transferred Shares and Additional Shares), shall be delivered to the Trustee, who shall proceed as instructed by the Beneficiary pursuant to the Intercreditor Agreement, provided that the following order of application shall be followed:
(1) to the payment of any and all taxes due by any of the Settlors, as a result of the sale of the Trust Assets, if such taxes shall have not been paid by the corresponding Settlor;
(2) to the payment of expenses and fees incurred in connection with the sale of the Trust Assets, including, without limitation, any expenses or fees charged or incurred by the Trustee or the Beneficiary, if any such expenses or fees shall have not been paid by the Settlors;
(3) to the payment of the Trustee’s fees, if such fees shall have not been paid by the Settlors;
(4) to the payment, on a pro-rata basis, of any and all outstanding Secured Obligations, for which purpose the amounts requested by the Beneficiary shall be delivered thereto, so that the Beneficiary may apply such amounts or cause such amounts to be applied, in the order specified in Clause 9.1 of the Intercreditor Agreement; and
(5) upon payment of the foregoing items, any remaining amounts shall be delivered pursuant to the instructions of the Settlors or, absent such instructions, as ordered by a court of competent jurisdiction.
