Collection and Application of Collateral Payments Sample Clauses

Collection and Application of Collateral Payments. The Counterparties shall collect all principal and interest payments with respect to Collateral. Each Counterparty shall apply 100% of any payments of principal (including prepayments) received by such Counterparty from Collateral and 20% of any payments of interest received by such Counterparty with respect to Collateral against the “Repurchase Price” or other applicable outstanding payment, margin, and xxxx-to-market deficiencies and other payment obligations under the corresponding Financing Agreements (collectively the “Payment Obligations”). So long as no Override Termination Event has occurred and is continuing, each Counterparty shall remit to TMA on the business day following the receipt of such amount all payments with respect to Collateral received by such Counterparty that it did not apply to the Payment Obligations as provided in the preceding sentence.
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Collection and Application of Collateral Payments. The Counterparties shall collect all principal and interest payments with respect to Collateral (“Collateral Payments”). Each Counterparty shall apply, as promptly as practicable, all Collateral Payments that it receives against Payment Obligations other than Margin Calls, but including deficiency amounts relating to Auction Swaps which have previously had their call dates (such amounts, with respect to a Counterparty’s Financing Agreements, as of any date of determination, the “Repayment Obligations”), such amounts to be applied in accordance with Section 5(a). In addition, on the 15th day of each calendar month following the Effective Date, TMA, on the one hand, and the Counterparties, on the other, shall reconcile their respective calculations of the outstanding balances under the Financing Agreements (and in this connection TMA and the Counterparties agree to exchange information, and otherwise to cooperate with one another in good faith, in such manner as may be required to make such reconciliation possible).
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Related to Collection and Application of Collateral Payments

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

  • Application of Collections On each Payment Date, all collections for the related Collection Period shall be applied by the Servicer as follows:

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

  • Application of Collateral and Proceeds The proceeds of any sale of, or other realization upon, all or any part of the Collateral shall be applied in the following order of priorities:

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Application of Proceeds from Collateral All proceeds from each sale of, or other realization upon, all or any part of the Collateral by any Secured Party after an Event of Default arises shall be applied as follows:

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