Distributions of Proceeds of Collateral. All realizations upon any Collateral pursuant to an Enforcement Action, an Insolvency Event or otherwise shall be paid or delivered to Lenders and applied first to the Senior Debt until the Senior Debt is indefeasibly paid in full before any payment may be made to WCAS.
Appears in 5 contracts
Samples: Loan Agreement (Valeritas Holdings Inc.), Loan Agreement (Valeritas Holdings Inc.), Loan Agreement (Valeritas Holdings Inc.)