Common use of Order of Distributions Clause in Contracts

Order of Distributions. (a) The proceeds of any sale or other realisation upon all or any part of the Charged Assets (including any cash but less the costs and expenses properly incurred by the Chargee, any Receiver or any Delegate in connection with such sale or other realisation) under this Deed shall be applied in the following order of priority: (i) first, to the payment of any taxes, filing fees and registration fees and any other expenses owed to any governmental entity and incurred in connection with sale or other realisation (if any) by the Chargee, any Receiver or any Delegate; (ii) second, to the payment of, any expenses properly incurred by the Chargee, any Receiver and/or any Delegate in connection with such sale or other realisation; including any amounts owed to any Receiver or any Delegate appointed in accordance with or under this Deed; and any other amounts payable to any Receiver or any Delegate in connection with the performance of its functions, including, without limitation, compensation to its agents and counsel, in each case whether actually paid or accrued; (iii) third, to the payment of any unreimbursed expenses of the Chargee, any Receiver and/or any Delegate which is to be reimbursed pursuant to this Deed and of all remuneration due to any Receiver or any Delegate under or in connection with this Deed; other than those paid under paragraph (ii) above; (iv) fourth, to payment of the Obligations due and payable to the Chargee; and (v) finally, payment to the Chargor or its successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds. (b) This Clause: (i) is subject to the payment of any claims having priority over the Charges; and (ii) does not prejudice the right of the Chargee to recover any shortfall from the Chargor.

Order of Distributions. (a) The proceeds of any sale or other realisation upon all or any part of the Charged Assets (including any cash but less the costs and expenses properly incurred by the Chargee, any Receiver or any Delegate in connection with such sale or other realisation) under this Deed shall be applied in the following order of priority: (i) first, to the payment of any taxes, filing fees and registration fees and any other expenses owed to any governmental entity and incurred in connection with sale or other realisation (if any) by the Chargee, any Receiver or any Delegate; (ii) second, to the payment of, any expenses properly incurred by the Chargee, any Receiver and/or any Delegate in connection with such sale or other realisation; including any amounts owed to any Receiver or any Delegate appointed in accordance with or under this Deedany Chargee Transaction Document; and any other amounts payable to any Receiver or any Delegate in connection with the performance of its functions, including, without limitation, compensation to its agents and counsel, in each case whether actually paid or accrued; (iii) third, to the payment of any unreimbursed expenses of the Chargee, any Receiver and/or any Delegate which is to be reimbursed pursuant to this Deed the Chargee Transaction Documents and of all remuneration due to any Receiver or any Delegate under or in connection with this Deed; other than those paid under paragraph (ii) above; (iv) fourth, to payment of the Obligations due and payable to the Chargee; and (v) finally, payment to the Chargor Chargors or its their successors or assigns, or as a court of competent jurisdiction may direct, of any surplus then remaining from such proceeds. (b) This Clause: (i) is subject to the payment of any claims having priority over the Charges; and (ii) does not prejudice the right of the Chargee to recover any shortfall from the any Chargor.