Common use of Order of application of proceeds Clause in Contracts

Order of application of proceeds. All sums received by Beneficiary under Section 6.2 (subject to Section 6.3) or Section 3.2, less all costs and expenses incurred by Beneficiary or any receiver under Section 6.2 or Section 3.2, including, without limitation, attorneys' fees, shall be applied in payment of the Secured Obligations in such order as Beneficiary shall determine in its sole discretion; provided, however, Beneficiary shall have no liability for funds not actually received by Beneficiary.