Common use of Distribution of Proceeds after Default Clause in Contracts

Distribution of Proceeds after Default. Subject to Section 7.6, from and after an Event of Default, to the extent proceeds are received by Administrative Agent, such proceeds will be distributed to the Banks pro rata in accordance with the unpaid principal amount of the Loans. Regardless of how each Bank may treat payments received by it pursuant to this Agreement and the Notes delivered to evidence debt hereunder for the purpose of its own accounting, for the purpose of computing the Borrower's and Guarantor's obligations under this Agreement and under such Notes, the payments shall be applied first, to the costs and expenses (including attorneys' fees and disbursements and the allocated costs and expenses of in-house legal and other professional services) of the Administrative Agent, acting as Administrative Agent, and of the Banks as set forth herein, second, to the payment of accrued and unpaid interest on all Notes to and including the date of such application (ratably according to the accrued and unpaid interest on the Notes), third, to the ratable payment of the unpaid principal of all the Notes, and fourth, to the payment of all other amounts (including fees) then owing to the Administrative Agents or the Banks under the Loan Documents. No application of the payments will cure any Event of Default or prevent acceleration, or continued acceleration, of amounts payable under the Loan Documents or prevent the exercise, or continued exercise, of rights or remedies of the Banks under this Agreement or under law.

Distribution of Proceeds after Default. Subject to Section 7.6, from and after an Event of Default, to the extent proceeds are received by Administrative Agent, such proceeds will be distributed to the Banks pro rata in accordance with the unpaid principal amount of the Loans. Regardless of how each Bank may treat payments received by it pursuant to this Agreement and the Facility Notes delivered to evidence debt hereunder for the purpose of its own accounting, for the purpose of computing the Borrower's and Guarantor's obligations under this Agreement and under such Facility Notes, the payments shall be applied first, to the costs and expenses (including attorneys' fees and disbursements and the allocated costs and expenses of in-house legal and other professional services) of the Administrative Agent, acting as Administrative Agent, and of the Banks as set forth herein, second, to the payment of accrued and unpaid interest on all Facility Notes to and including the date of such application (ratably according to the accrued and unpaid interest on the Facility Notes), third, to the ratable payment of the unpaid principal of all the Facility Notes, and fourth, to the payment of all other amounts (including fees) then owing to the Administrative Agents or the Banks under the Loan Documents. No application of the payments will cure any Event of Default or prevent acceleration, or continued acceleration, of amounts payable under the Loan Documents or prevent the exercise, or continued exercise, of rights or remedies of the Banks under this Agreement or under law.

Distribution of Proceeds after Default. Subject to Section 7.6, from and after an Event of Default, to the extent proceeds are received by Administrative Agent, such proceeds will be distributed to the Banks pro rata in accordance with the unpaid principal amount of the Loans. Regardless of how each Bank may treat payments received by it pursuant to this Agreement and the Notes delivered to evidence debt hereunder for the purpose of its own accounting, for the purpose of computing the Borrower's and Guarantor's obligations under this Agreement and under such Notes, the payments shall be applied first, to the costs and expenses (including attorneys' fees and disbursements and the allocated costs and expenses of in-house legal and other professional services) of the Administrative Agent, acting as Administrative Agent, and of the Banks as set forth herein, second, to the payment of accrued and unpaid interest on all Notes to and including the date of such application (ratably according to the accrued and unpaid interest on the Notes), third, to the ratable payment of the unpaid principal of all the Notes, and fourth, to the payment of all other amounts (including fees) then owing to the Administrative Agents or the Banks under the Loan Documents. No application of the payments will cure any Event of Default or prevent acceleration, or continued acceleration, of amounts payable under the Loan Documents or prevent the exercise, or continued exercise, of rights or remedies of the Banks under this Agreement or under law.

Distribution of Proceeds after Default. Subject to Section 7.6, from and after an Event of Default, to the extent proceeds are received by Administrative Agent, such proceeds will be distributed to the Banks pro rata in accordance with the unpaid principal amount of the Loans. Regardless of how each Bank may treat payments received by it pursuant to this Agreement and the Notes delivered to evidence debt hereunder for the purpose of its own accounting, for the purpose of computing the Borrower's and Guarantorthe General Partner's obligations under this Agreement and under such Notes, the payments shall be applied firstfully, to the costs and expenses (including attorneys' fees and disbursements and the allocated costs and expenses of in-house legal and other professional services) of the Administrative Agent, acting as Administrative Agent, and of the Banks as set forth herein, second, second to the payment of accrued and unpaid interest on all Notes to and including the date of such application (ratably according to the accrued and unpaid interest on the Notes), third, to the ratable payment of the unpaid principal of all the Notes, and fourth, fourth to the payment of all other amounts (including fees) then owing to the Administrative Agents or the Banks under the Loan Documents. No application of the payments will cure any Event of Default or prevent acceleration, or continued acceleration, of amounts payable under the Loan Documents or prevent the exercise, or continued exercise, of rights or remedies of the Banks under this Agreement or under law.