Common use of Disposition of Proceeds of Sale Clause in Contracts

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 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 outstandingexists, to be paid over to Grantors the Pledgor that has pledged such Collateral 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 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 the Pledgor that has pledged such Collateral or to whomsoever may be lawfully entitled to receive such surplus.