Application of Trust Moneys upon Event of Default. If an Event of Default has occurred and is continuing, and any of the Secured Obligations has been accelerated, then the Trustee shall, as soon as practicable, apply the Trust Moneys and other amounts or proceeds from the sale or other disposition of or realization upon any Lien on the Collateral as follows:
Appears in 8 contracts
Samples: Pledge Agreement (Pg&e National Energy Group Inc), Pledge Agreement (Pg&e National Energy Group Inc), Pledge Agreement (Pg&e National Energy Group Inc)
