Proceeds of Disposition. 5.1 The proceeds of any sale or other disposition of all or any assets comprised in the Trust Fund shall be paid promptly and in no event later than two business days after such sale, together with any interest earned thereon:
5.1.1 prior to the Restructuring Effective Time, to XLCA, which payment or distribution to XLCA shall be treated as “SCA Share Sale Proceeds” for purposes of Section 6.12 of the Master Restructuring Agreement; and
5.1.2 from and after the Restructuring Effective Time, pursuant to the terms of the Consenting Counterparty Restructuring Agreement.
5.2 Together with the proceeds of any disposition as described in Clause 5.1, the Trustees shall deliver a notice setting forth the calculation thereof to XLCA and the Consenting Counterparties.
Proceeds of Disposition. If the Agent or a Receiver sells or leases the Collateral pursuant to subsections 6.4 or 6.6, the proceeds of sale will be applied as follows:
(a) first, to pay and discharge all rents, taxes, insurance premiums and other prior charges affecting the Collateral;
(b) second, to the costs of sale or lease and taking possession, including costs incurred by the Agent and the remuneration of the Receiver, if applicable;
(c) third, to pay all amounts required to keep in good standing all liens and charges on the Collateral prior to the security interests hereby created;
(d) fourth, to pay any principal, interest and other monies due and payable under the Notes and under this Agreement, pari passu according to the proportion of the Obligations owed to each Investor or otherwise as the Investors may direct; and
(e) finally, the balance, if any, to the Borrower.
Proceeds of Disposition. Subject to the claims, if any, of the prior secured creditors of the Debtor, all moneys received by the Creditor or by the Receiver pursuant to Section 5.2 will be applied as follows:
(a) first, in payment of all costs and expenses incurred by the Creditor in the exercise of all or any of the powers granted to it under this Agreement, including, without limitation, the costs and expenses in Subsection 3.2(h), payment of all of the remuneration of the Receiver and all costs and expenses incurred by the Receiver in the exercise of all or any of the powers granted to it under this Agreement, including, without limitation, the remuneration, costs and expenses referred to in Section 5.4;
(b) second, in payment of all amounts of money borrowed or advanced by either of the Creditor or the Receiver pursuant to the powers set out in this Agreement and any interest thereon;
(c) third, in payment of the Obligations, provided that if there are not sufficient moneys to pay all of the Obligations, the Creditor may apply the moneys available to such part or parts thereof as the Creditor, in its sole discretion, may determine;
(d) fourth, in satisfaction of any indebtedness or liability secured by any security interest in the Collateral subordinate to the security interest created by this Agreement if written demand therefor is received by the Creditor or the Receiver before the distribution of the proceeds of disposition of the Collateral is completed; and
(e) fifth, in payment of any surplus to the Debtor.
Proceeds of Disposition. The Proceeds of the sale, lease or other disposition of the whole or any part of the Collateral will be applied to pay the amounts owed to the Secured Party under Section 7.6 and the Obligations, and, if any surplus remains in the hands of the Receiver or the Secured Party, that surplus will be distributed as required by the PPSA.
Proceeds of Disposition. The proceeds of the sale, lease or other disposition of the whole or any part of the Collateral will be applied as follows:
(a) FIRSTLY to pay and discharge all rents, taxes, rates, insurance premiums and out-goings affecting the Collateral;
(b) SECONDLY to pay all costs and expenses of taking possession and/or sale or lease or otherwise (including the Receiver’s remuneration, if any);
(c) THIRDLY to pay such amounts as are necessary to keep in good standing all liens and charges on the Collateral ranking in priority to the security interests hereby created;
(d) FOURTHLY to pay any principal, interest and other monies due and payable hereunder (in such order as the Secured Party may require); and
(e) if any surplus remains in the hands of the Receiver or the Secured Party then the Debtor will be entitled to such surplus but only upon demand in writing made therefor.
Proceeds of Disposition. Subject to applicable law and any Charges ranking in priority to the Charges created hereby, all amounts realized from Charged Property pursuant hereto will be applied as the Secured Party may see fit within the following constraints:
(a) firstly, in or toward payment of all charges and expenses (including legal fees and disbursements on a solicitor and his own client basis) incurred or charged by the Secured Party or Receiver in connection with the exercise by the Secured Party or Receiver of the rights, remedies and powers granted pursuant hereto or otherwise, including the Receiver’s remuneration and all amounts properly payable by the Receiver; and
(b) secondly, in or toward payment to the Secured Party of the Secured Obligations.
Proceeds of Disposition. The proceeds of any sale or other disposition of or collection of or other realization upon all or any part of the Collateral (together with any cash held as Collateral hereunder), shall be applied in the following order of priority: First, to pay the costs and expenses of collection, custody, sale or other disposition or delivery (including, without limitation, reasonable legal costs and attorneys’ fees) and all other charges incurred by the Secured Party with respect to the Collateral; Second, to the payment of the Secured Obligations pari passu in right of payment with the 12% Convertible Notes; and third, to pay any surplus to the Debtor or to any person or party lawfully entitled thereto, or as a court of competent jurisdiction may direct.
Proceeds of Disposition. The proceeds of disposing of the Collateral will be dealt with as provided in the PPSA and in the order provided in the PPSA.
Proceeds of Disposition. Subject to the claims, if any, of the prior secured creditors of the Borrower, all monies received by the Bank or by the Receiver pursuant to Section 5.2 shall be applied in accordance with the Collateral Agency Agreement.
Proceeds of Disposition. The proceeds of the sale, lease or other disposition of the whole or any part of the Collateral will be applied, subject to the Assignments and Postponements and the Side Letter, as follows: FIRSTLY to pay and discharge all rents, taxes, rates, insurance premiums and out-goings affecting the Collateral as the Secured Parties, in the Secured Parties' absolute discretion, see fit; SECONDLY to pay all costs and expenses of taking possession and/or sale or lease or otherwise (including the Receiver's remuneration, if any) as the Secured Parties, in the Secured Parties' absolute discretion, see fit; THIRDLY to pay such amounts as are necessary to keep in good standing all liens and charges on the Collateral prior to the security interests hereby created as the Secured Parties, in the Secured Parties' absolute discretion, see fit; FOURTHLY to pay any Obligations then outstanding, including any amounts payable to the Secured Parties pursuant to the Convertible Note; and LASTLY, to the Debtor in accordance with applicable law.
