Disposition of Proceeds of Sale. The proceeds resulting from the collection, liquidation, sale or other disposition of the Collateral shall be applied, first, to the reasonable costs and expenses (including reasonable attorneys' fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Collateral, and the like; second, to the satisfaction of all Obligations; and third, any surplus remaining after the satisfaction of all Obligations, to be paid over to the Grantors or to whomsoever may be lawfully entitled to receive such surplus.
Disposition of Proceeds of Sale. The net cash proceeds resulting from the collection, liquidation, sale or other disposition of the Pledged Collateral shall be applied, FIRST, to the reasonable costs and expenses (including reasonable attorneys: fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Pledged Collateral, and the like; SECOND, to the satisfaction of all Secured Obligations, with application as to any particular Secured Obligations to be in the order set forth in the Loan Agreement or other Loan Documents; and, THIRD, to all other indebtedness secured hereby in such order and manner as Bank in its sole and absolute discretion may determine.
Disposition of Proceeds of Sale. The proceeds resulting from the ------------------------------- collection, liquidation, sale or other disposition of the Collateral shall be applied, first, to the reasonable costs and expenses (including reasonable ----- attorneys' fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Collateral, and the like; second, ------ to the satisfaction of all Obligations; and third, any surplus remaining after ----- the satisfaction of all Obligations, provided no Commitment exists and no Letter of Credit remains outstanding, to be paid over to Grantors or to whomsoever may be lawfully entitled to receive such surplus.
Disposition of Proceeds of Sale. The proceeds resulting from the collection, liquidation, sale or other disposition of the Collateral hereunder shall be applied, first, to the reasonable costs and expenses (including reasonable attorneys' fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Collateral, and the like; and second, to the satisfaction of all obligations under or in respect of the Notes; and third, any surplus remaining after the satisfaction of all obligations under or in respect of the Notes, to be paid over to the Grantors or to whomsoever may be lawfully entitled to receive such surplus.
Disposition of Proceeds of Sale. After an Event of Default shall have occurred and be continuing, the proceeds of any sale of the Vessel (after paying or deducting in the case of sale under any judicial proceedings the fees, costs and other charges therein), and the net earnings from any management, charter or other use of the Vessel by Mortgagee under any of the powers above specified, and the proceeds of any claim for damages on account of such Vessel received by the Mortgagee while exercising any such power, and the proceeds of any insurance on the Vessel concerned (subject to the provisions of this agreement) shall be applied by Mortgagee as provided in Section 2.4(b) of the Loan Agreement.
Disposition of Proceeds of Sale. The net cash proceeds resulting from the collection, liquidation, sale or other disposition of the Pledged Collateral shall be applied, first, to the costs and expenses (including attorneys’ fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Pledged Collateral, and the like; and thereafter pursuant to Section 6.06 of the Indenture.
Disposition of Proceeds of Sale. The net cash proceeds resulting from the collection, liquidation, sale or other disposition of the Pledged Collateral shall be applied, first, to the reasonable costs and expenses (including reasonable attorneys’fees including, without limitation, those incurred or expended to comply with Gaming Laws) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Pledged Collateral, and the like; second, to the satisfaction of all Obligations, with application as to any particular Obligations to be in the order set forth in the Credit Agreement or other Loan Documents; third, to all other indebtedness secured hereby in such order and manner as Secured Party in its sole and absolute discretion may determine, and fourth, if any balance remains, to Grantor or Grantor’s designee.
Disposition of Proceeds of Sale. The purchase money or proceeds of any sale made pursuant to judicial proceedings for the enforcement of this Indenture, shall be applied, as follows:
Disposition of Proceeds of Sale. The net cash proceeds resulting ------------------------------- from the collection, liquidation, sale or other disposition of the Pledged Collateral shall be applied, first, to the reasonable costs and expenses ----- (including reasonable attorneys' fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Pledged Collateral, and the like; second, to the satisfaction of all Obligations, with ------ application as to any particular Obligations to be in the order set forth in the Loan Agreement or other Loan Documents; third, to all other indebtedness secured ----- hereby in such order and manner as Secured Party in its sole and absolute discretion may determine, and fourth, if any balance remains, to Grantor or ------ Grantor's designee.
Disposition of Proceeds of Sale. The net cash proceeds resulting from the collection, liquidation, sale or other disposition of the Pledged Collateral shall be applied, first, to the reasonable costs and expenses (including attorneys’ fees) of retaking, holding, storing, processing and preparing for sale, selling, collecting and liquidating the Pledged Collateral, and the like; and thereafter pro rata to the satisfaction of the Secured Obligations (i) as among the Noteholders, pursuant to Section 6.06 of the Indenture and (ii) as among the 13% Secured Notes Secured Parties, as set forth in the 13% Secured Notes Indenture. In making the determination and allocations required by this Section 11.5, the Collateral Agent may conclusively rely upon information supplied by the 13% Secured Notes Secured Parties or the trustee for the 13% Secured Notes as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the 13% Secured Notes Obligations and the Collateral Agent shall have no liability to any of the Secured Parties for actions taken in reliance on such information. All distributions made by the Collateral Agent pursuant to this Section 11.5 shall be final, and the Collateral Agent shall have no duty to inquire as to the application by the 13% Secured Notes Secured Parties or trustee for the 13% Secured Notes of any amounts distributed to the 13% Secured Notes Secured Parties.
