Common use of Application of Sale Proceeds and Deficiency Clause in Contracts

Application of Sale Proceeds and Deficiency. The proceeds of any exercise of rights with respect to the Trust Estate or any other Collateral, or any part thereof, and the proceeds and the avails or any remedy hereunder shall be paid to and applied as described in Section 4.

Appears in 2 contracts

Samples: Trust Indenture and Security Agreement (Noble Drilling Corp), Trust Indenture and Security Agreement (Noble Drilling Corp)

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Application of Sale Proceeds and Deficiency. The proceeds of any exercise of rights with respect to the Trust Estate or any other Collateral, or any part thereof, and the proceeds and the avails or of any remedy hereunder shall be paid to and applied as described in Section 45.

Appears in 1 contract

Samples: Trust Indenture and Security Agreement (R&b Falcon Corp)

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Application of Sale Proceeds and Deficiency. The proceeds of any exercise of rights with respect to the Trust Estate or any other Collateral, or any part thereof, and the proceeds and the avails or of any remedy hereunder shall be paid to deposited with the Trustee and applied as described in Section 4Sections 4.2 and 5.

Appears in 1 contract

Samples: Trust Indenture (Castle Brands Inc)

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