Common use of Payments After an Event of Default Clause in Contracts

Payments After an Event of Default. All payments received and amounts realized by the Holder pursuant to Section 6, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the Note to be due and payable, as well as all payments or amounts then held or thereafter received by the Holder as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder in the following order of priority: (a) First, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including legal expenses and attorneys fees, incurred or made hereunder by the Holder, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 6, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 hereof may have been made; (b) Second, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment of the amount then owing or unpaid on the Note, with application to be made first to the unpaid interest thereon and second, to the unpaid principal thereof, such application to be made upon presentation of the Note and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (d) Fourth, to the payment of the balance or surplus, if any, to Borrower, its successors and assigns, or to any other party who may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Party pursuant to Section 68, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the Note to be has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Secured Party as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder Secured Party in the following order of priority: (a) Firsti. first, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including reasonable legal expenses and attorneys attorneys' fees, incurred or made hereunder by the HolderSecured Party, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 68, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 8 hereof may have been made;; and (b) Secondii. second, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment Secured Party of the amount then owing or unpaid on the NoteNote or any other obligations, and in case the payments received and amounts realized by the Secured Party shall be insufficient to pay in full the whole amount so due, owing or unpaid upon the Note or any other obligations, then, with application thereof on the Note to be made first to the unpaid interest thereon thereon, and second, to the unpaid principal thereof, such application to be made upon presentation of the Note and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (d) Fourthiii. third, to the payment of the balance or surplus, if any, to Borrowerthe Debtor, its successors and assigns, or to any other party who whomsoever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Parties pursuant to Section 68, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal of, and interest amount of on, the Note to be Notes has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Secured Parties as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by to the Holder Secured Parties in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including legal expenses reasonable attorneys’ fees and attorneys feesexpenses, incurred or made hereunder by the HolderSecured Parties, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 68, and of all taxes, assessments assessments, or liens superior to the lien granted under this Security Agreement, except any taxes, assessments assessments, or other superior lien subject to which any said sale under Section 6 hereof 8 may have been made;; and (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment Secured Parties of the amount then owing or unpaid on the NoteNotes, with application on the Notes to be made first to the unpaid interest thereon (if any), and second, to the unpaid principal thereof, such application to be made upon presentation of the Note Notes and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paidpaid shall be made; and (dc) Fourththird, to the payment of the balance or surplus, if any, to Borrowerthe Company, its successors and assigns, or to any other party who whomsoever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Party pursuant to Section 68, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the Note to be Notes has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Secured Party as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder Secured Party in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including reasonable legal expenses and attorneys attorneys' fees, incurred or made hereunder by the HolderSecured Party, and/or by any other Holder or Holders, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 68, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 8 hereof may have been made;; and (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment each Holder of the amount then owing or unpaid on such Holder's Note, and in case the Notepayments received and amounts realized by the Secured Party shall be insufficient to pay in full the whole amount so due, owing or unpaid upon all the Notes, then ratably, in the proportion that the unpaid principal amount of each Note bears to the aggregate unpaid principal amount of all Notes, and in the proportion that the amount of interest accrued under each Note bears to the aggregate amount of interest accrued under all the Notes, with application on each Note to be made first to the unpaid interest thereon thereon, and second, to the unpaid principal thereof, such application to be made upon presentation of the Note Notes and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (dc) Fourththird, to the payment of the balance or surplus, if any, to BorrowerDebtors, its successors and assigns, or to any other party who whomever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Party pursuant to Section 68, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the Note to be Notes has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Secured Party as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder Secured Party in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including reasonable legal expenses and attorneys attorneys' fees, incurred or made hereunder by the HolderSecured Party, and/or by any other Holder or Holders, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 68, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 8 hereof may have been made;; and (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment each Holder of the amount then owing or unpaid on such Holder's Note, and in case the Notepayments received and amounts realized by the Secured Party shall be insufficient to pay in full the whole amount so due, owing or unpaid upon all the Notes, then ratably, in the proportion that the unpaid principal amount of each Note bears to the aggregate unpaid principal amount of all Notes, and in the proportion that the amount of interest accrued under each Note bears to the aggregate amount of interest accrued under all the Notes, with application on each Note to be made first to the unpaid interest thereon thereon, and second, to the unpaid principal thereof, such application to be made upon presentation of the Note Notes and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (dc) Fourththird, to the payment of the balance or surplus, if any, to BorrowerDebtor, its successors and assigns, or to any other party who whomsoever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Party pursuant to Section 6, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the Note to be Notes has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Agent as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder Agent in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including legal expenses and attorneys reasonable attorneys' fees, incurred or made hereunder by the Agent, or by any other Holder, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 6, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 hereof may have been made;; and (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment each Holder of the amount then owing or unpaid on such Holder's Note, and in case the Notepayment received and amounts realized by the Agent shall be insufficient to pay in full the whole amount so due, owing or unpaid upon all the Notes, then ratably, in the proportion that the unpaid principal amount of each Note bears to the aggregate unpaid principal amount of all Notes, and in the proportion that the amount of interest accrued under each Note bears to the aggregate amount of interest accrued under all the Notes, with application on each Note to be made first to the unpaid interest thereon thereon, and second, to the unpaid principal thereof, such application to be made upon presentation of the Note Notes and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (dc) Fourththird, to the payment of the balance or surplus, if any, to Borrowerthe Company, its successors and assigns, or to any other party who whomsoever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder Secured Parties pursuant to Section 68, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal of, and interest amount of on, the Note to be Notes have been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder Secured Parties as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by to the Holder Secured Parties in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including legal expenses reasonable attorneys’ fees and attorneys feesexpenses, incurred or made hereunder by the HolderSecured Parties, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 68, and of all taxes, assessments assessments, or liens superior to the lien granted under this Security Agreement, except any taxes, assessments assessments, or other superior lien subject to which any said sale under Section 6 hereof 8 may have been made;; and (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment Secured Parties of the amount then owing or unpaid on the NoteNotes, with application on the Notes to be made first to the unpaid interest thereon (if any), and second, to the unpaid principal thereof, such application to be made upon presentation of the Note Notes and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paidpaid shall be made; and (dc) Fourththird, to the payment of the balance or surplus, if any, to Borrowerthe Company, its successors and assigns, or to any other party who whomsoever may be lawfully entitled to receive the same.

Payments After an Event of Default. All payments received and amounts realized by the Holder any Secured Party pursuant to Section 69, including all such payments and amounts received after the Holder has declared pursuant to Section 6.1 the entire unpaid principal and interest amount of the its Note to be has been declared due and payable, as well as all payments or amounts then held or thereafter received by the Holder such Secured Party as part of the Collateral while an Event of Default shall be continuing, shall be promptly applied and distributed by the Holder in the following order of priority: (a) Firstfirst, to the payment of all amounts claimed due by a person holding a secured interest in the Collateral prior to the interest of Holder, and all reasonable costs and expenses, including reasonable legal expenses and attorneys attorneys’ fees, incurred or made hereunder by the Holderany Secured Party, including any such costs and expenses of foreclosure or suit, if any, and of any sale or the exercise of any other remedy under Section 69, and of all taxes, assessments or liens superior to the lien granted under this Security Agreement, except any taxes, assessments or other superior lien subject to which any said sale under Section 6 hereof 9 may have been made; (b) Secondsecond, to the payment of all amounts then owned by Borrower to Holder, excepting the amount then owing or unpaid on the Note; (c) Third, to the payment each Secured Party of the amount then owing or unpaid on the its Note, with application on the Note to be made first to any cost, fees, expenses, indemnities or other similar amounts due and payable to such Secured Party pursuant to the terms of its Note, second to the unpaid interest thereon under such Note, and secondthird, to the unpaid principal thereofunder such Note, such application to be made upon presentation of the Note and the notation thereon of the payment, if partially paid, or the surrender and cancellation thereof, if fully paid; and (dc) Fourththird, to the payment of the balance or surplus, if any, to BorrowerPledgor, its successors and assigns, or to any other party who whosoever may be lawfully entitled to receive the same.