During an Event of Default. If an Event of Default has occurred and is continuing, upon any (A) Disposition of Property, (B) Unwind of any Swap Agreement or (C) incurrence or issuance of Indebtedness, an aggregate amount equal to one hundred percent (100%) of the Net Proceeds received therefrom shall be applied to repay the Secured Obligations in accordance with the priority set forth in Section 10.02(d).
During an Event of Default. If an Event of Default has occurred and is continuing, all Income deposited into the Waterfall Account in respect of the Purchased Assets shall be applied by Deposit Account Bank, on the Business Day next following the Business Day on which each amount of Income is so deposited, in the following order of priority: first, to pay to Buyer an amount equal to the Price Differential accrued with respect to all Purchased Assets as of such date; second, to pay to Buyer an amount equal to all default interest, late fees, fees, expenses and Indemnified Amounts then due and payable from Seller and other applicable Persons to Buyer under the Repurchase Documents; third, to pay any custodial and servicing fees and expenses due and payable under the Custodial Agreement and any Servicing Agreement; fourth, to pay to Buyer an amount equal to the aggregate Repurchase Price of all Purchased Assets (to be applied in such order and in such amounts as determined by Buyer, until the Aggregate Amount Outstanding has been reduced to zero); and (ii) to pay to any Affiliated Hedge Counterparty an amount equal to all termination payments payable with respect to each related Interest Rate Protection Agreement; fifth, to pay to Buyer all other Repurchase Obligations due to Buyer; and sixth, to pay to Seller any remainder; provided, that if Buyer has exercised the remedies described in Section 10.02(d)(ii) with respect to any or all Purchased Assets, Seller shall not be entitled to any proceeds from any eventual sale of such Purchased Assets.
During an Event of Default. Notwithstanding the foregoing, upon the occurrence, and during the continuance, of an Event of Default, the principal of and, to the extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the Notes, the Borrower Guaranty, the Employee Pledge Agreements and any other Credit Documents shall bear interest, payable on demand, at a per annum rate 2% greater than the rate which would otherwise be applicable (or if no rate is applicable, whether in respect of interest, fees or other amounts, then 2% greater than the Base Rate).
During an Event of Default. If an Event of Default has occurred and is continuing, any amounts received or collected from, or on account of assets held by, any Loan Party shall be applied to the Secured Obligations by the Administrative Agent in the order and manner set forth in Section 2.18(b) but subject to the marshaling rights of the Administrative Agent and Lenders. 108 Notwithstanding the foregoing, amounts received from the Borrower or any Guarantor that is not an “eligible contract participant” under the Commodity Exchange Act shall not be applied to any Excluded Swap Obligations.
During an Event of Default. If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in its exercise, as a prudent Person would exercise or use under the circumstances in the conduct of such Person's own affairs.
During an Event of Default. Neither the Company nor any Subsidiary shall declare or pay any dividend on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Capital Stock, other than dividends paid to the Company by a Wholly Owned Subsidiary, if at such time (a) there shall have occurred any event that, with the giving of notice or the lapse of time or both, would constitute an Event of Default, or (b) any Preferred Securities are at the time outstanding and the Company is in default under the Guarantee.
During an Event of Default. Notwithstanding the foregoing, upon the occurrence, and during the continuance, of an Event of Default, the principal of and, to the extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the Notes, the Credit Party Pledge Agreement and any other Credit Documents shall bear interest, payable on demand, at a per annum rate 2% greater than the rate which would otherwise be applicable (or if no rate is applicable, whether in respect of interest, fees or other amounts, then 2% greater than the Adjusted Base Rate).
During an Event of Default or subsequent to a Potential Default, the Guarantor shall not accept payment from Borrower by way of contribution on account of any payment made hereunder by Borrower to the Lender, and the Guarantor will not take any action to exercise or enforce any rights to such contribution. If any amount shall be paid to the Guarantor on account of such subrogation rights at any time when all the Indebtedness shall not have been paid or performed in full, during an Event of Default or subsequent to a Potential Default such amount shall be held in trust for the benefit of the Lender and shall forthwith be paid to the Lender to be credited and applied upon the Indebtedness, whether matured or unmatured, in such order as the Lender, in its sole and absolute discretion, shall determine. Any lien or charge on any real or personal property subject to a lien in favor of Lender, or the revenue and income to be realized therefrom, and all rights in and to such property, which the Guarantor may have or obtain as security for any loans or advances shall be, and such lien or charge hereby is, subordinated to the liens and to the indebtedness of the Borrower to the Lender under the Note and the other Loan Documents.
During an Event of Default payment with respect to, any of its Capital Stock, other than dividends paid to the Company by a Wholly Owned Subsidiary, if at such time (a) there shall have occurred any event that, with the giving of notice or the lapse of time or both, would constitute an Event of Default, or (b) any Preferred Securities are at the time outstanding and the Company is in default under the Guarantee.
During an Event of Default. If an Event of Default has occurred and is continuing, upon any (i) Disposition of Property, (ii) Unwind of any Swap Agreement or (iii) incurrence or issuance of Indebtedness, an aggregate amount equal to one hundred percent (100%) of the Net Proceeds received therefrom shall be applied to (A) prepay the Revolving Loans in an aggregate principal amount equal to such Net Proceeds and (B) if any Net Proceeds remain after prepaying all of the Revolving Loans as a result of any outstanding Term Loans, prepay the Term Loans in an aggregate principal amount equal to such remaining Net Proceeds.
