Application of the proceeds. Subject to the rights of any preferential creditors under any applicable law, the Security Trustee agrees with the Issuer to pay any sums received or recovered by the Security Trustee from or by the enforcement of the Issuer-Owned Bonds Security and/or the Cryptocurrency Security granted to secure the Security Trustee Claim in the following order: (a) in discharging any sums owing to the Security Trustee; (b) in discharging all costs and expenses incurred by the Security Trustee in connection with any realisation or enforcement of the Relevant Security taken in accordance with the terms of this Agreement, or any action taken at the request of the Security Trustee; (c) in discharging all costs and expenses incurred by the Bondholders' Representative in connection with any realisation or enforcement of the Relevant Security taken in accordance with the terms of this Agreement, or any action taken at the request of the Security Trustee; (d) in discharging any sums owing to the relevant Bondholder or Bondholders; and (e) the balance, if any, in payment or distribution to the Issuer.
Appears in 10 contracts
Samples: Security and Security Trust Agreement, Security and Security Trust Agreement, Security and Security Trust Agreement
