Common use of General application of moneys Clause in Contracts

General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Revenue or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all fees, liabilities and expenses of the Facility Security Trustee which are outstanding under a Facility Document; (ii) secondly, in or towards payment on a pro rata and pari passu basis of all fees, liabilities and expenses of the Facility Agent and the GIEK Agent which are outstanding under a Facility Document; (iii) thirdly in or towards payment on a pari passu and pro rata basis to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding the Hedging Secured Obligations); (iv) fourthly in or towards payment on a pari passu and pro rata basis to the Hedging Providers of an amount equal to the Hedging Secured Obligations; (v) the balance, if any, shall be remitted to the Borrower.

General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Revenue or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all fees, liabilities outstanding fees and expenses of the Facility Agent, the ECA Agent and the Facility Security Trustee which are outstanding under a Facility DocumentTrustee; (ii) secondly, in or towards payment on a pro rata and pari passu basis of all fees, liabilities and expenses of the Facility Agent and the GIEK Agent which are outstanding under a Facility Document; (iii) thirdly secondly in or towards payment on a pari passu and pro rata basis to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding the any Hedging Secured Obligations); (iviii) fourthly thirdly in or towards payment on a pari passu and pro rata basis to the Hedging Providers Providers, of an amount equal to the Hedging Secured Obligations;; and (viv) the balance, if any, shall be remitted to the Borrower.

General application of moneys. Whilst Without prejudice to the order of priority as set forth in the K-Sure Insurance Policy that should be applicable as between K-Sure and the K-Sure Facility Lenders in respect of, amongst others, the application order of the collected sums, whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Revenue or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all fees, liabilities outstanding fees and expenses of the Facility Agent, the K-Sure Agent, the GIEK Agent, the KEXIM Guarantee Agent and the Facility Security Trustee which are outstanding under a Facility DocumentTrustee; (ii) secondly, in or towards payment on a pro rata and pari passu basis of all fees, liabilities and expenses of the Facility Agent and the GIEK Agent which are outstanding under a Facility Document; (iii) thirdly secondly in or towards payment on a pari passu and pro rata basis to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding the any Hedging Secured Obligations); (iviii) fourthly thirdly in or towards payment on a pari passu and pro rata basis to the Hedging Providers Providers, of an amount equal to the Hedging Secured Obligations;; and (viv) the balance, if any, shall be remitted to the Borrower.