Common use of Distribution of Enforcement Proceeds Clause in Contracts

Distribution of Enforcement Proceeds. All moneys from time to time received or recovered by the Agent in connection with the realisation and enforcement of all or any part of the Transaction Security shall be held by the Agent on trust to apply them as soon as reasonably practicable and to the extent permitted by applicable law, in the following order of priority: (i) firstly, in or towards payment of costs and expenses incurred by the Agent and the other Finance Parties in connection with such realisation and enforcement; (ii) secondly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents other than any Hedging Agreements; and (iii) thirdly, in or towards payment pro rata of any other sum due but unpaid under any Hedging Agreements.

Distribution of Enforcement Proceeds. All moneys from time to time received or recovered by the Agent in connection with the realisation and enforcement of all or any part of the Transaction Security shall be held by the Agent on trust to apply them as soon as reasonably practicable and to the extent permitted by applicable law, in the following order of priority: (i) firstly, in or towards payment of costs and expenses incurred by the Agent and the other Finance Parties in connection with such realisation and enforcement; ; (ii) secondly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents other than any Hedging Agreements; and (iii) thirdly, in or towards payment pro rata of any other sum due but unpaid under any Hedging Agreements.