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 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. The proceeds resulting from the collection, liquidation, sale or other disposition of the Collateral hereunder shall be applied, firstFIRST, 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 secondSECOND, to the satisfaction of all obligations under or in respect of the NotesObligations; and thirdTHIRD, any surplus remaining after the satisfaction of all obligations under or in respect Obligations, provided no Commitment exists and no Letter of the NotesCredit remains outstanding, to be paid over to the Grantors Grantor or to whomsoever may be lawfully entitled to receive such surplus.

Disposition of Proceeds of Sale. The Subject only to the terms of the Subordination Agreement, 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.