Proceeds of enforcement. (a) Subject to the rights of any creditor with prior security or a preferential claim, the proceeds of enforcement of the Security under the Transaction Security Documents shall be paid to the Security Agent. (b) Any proceeds of enforcement of the security under the Transaction Security Documents, and any amount paid to the Security Agent under this Agreement shall be applied in the following in the order of priority set out in Clause 32.5 (Partial payments).

Proceeds of enforcement. 9.1 All money arising from or in connection with the exercise of the enforcement rights of a Receiver or the Lender is to be applied: (a) in the case of Personal Property, in accordance with, and to the extent applicable, Part 9 of the PPSA and Part 3 of the PLA; and (b) in the case of Other Property, subject to any claim ranking in priority to the Secured Indebtedness, in the following order of priority: (i) all costs incurred by a Receiver or the Lender in connection with, or as a result of the exercise of, their respective rights (including the remuneration of a Receiver), in the order determined from time to time by a Receiver or the Lender; (ii) all other Secured Indebtedness, in the order determined from time to time by the Lender; and (iii) the claims of those entitled to any surplus. 9.2 If, at the time of distribution of any money under clause 9.1, any part of the Secured Indebtedness is contingently owing to the Lender, the Lender or a Receiver may retain an amount equal to all or part of that contingent indebtedness. This amount is to be placed in an interest-bearing deposit account until that contingent indebtedness becomes actually due and payable or otherwise ceases to be contingently owing.

Proceeds of enforcement. Subject to the payment of any claim ranking in priority as a matter of law, the proceeds of enforcement of the Security constituted by the Transaction Security Documents shall be paid to the Security Agent and those proceeds (together with all other amounts paid to the Security Agent in accordance with the terms of this Agreement or any other Finance Document) shall be applied in the following order: (a) First, in satisfaction of all costs, charges, expenses (including legal expenses) and liabilities properly incurred by the Security Agent (in its capacity as Security Agent) or any Insolvency Representative appointed under the Transaction Security Documents or their attorneys or agents and of the remuneration of such Insolvency Representative (and all interest on such sums as provided in the Finance Documents); (b) Second, in payment of all reasonable costs and expenses (including legal expenses) properly incurred by or on behalf of any other Finance Party in connection with such enforcement;

Proceeds of enforcement. Subject to the claims, if any, of the creditors of the Debtor ranking in priority to the Security Interests, all amounts realized from the disposition of Collateral pursuant to this Agreement will be applied as follows: (a) first, in payment of all costs, charges and expenses (including legal fees and disbursements as between solicitor and own client) incurred by the Agent and the Lenders in connection with or incidental to the exercise by the Agent and the Lenders of all or any of the powers granted to them pursuant to this Agreement, including the expenses of seizing, repossessing, holding, repairing, processing or preparing for disposition and disposing of Collateral and the appointment of the Receiver and the exercise by the Receiver of all or any of the powers granted to it pursuant to this Agreement, including the Receiver’s reasonable remuneration and all outgoings properly payable by the Receiver; (b) second, in or toward payment of the Obligations to the Lenders. Subject to applicable law and the claims, if any, of other creditors of the Debtor, any surplus will be paid to the Debtor.

Proceeds of enforcement. 6.1 Subject to Clause 6.2, the proceeds of the enforcement of any Security shall be applied i n a c c o r d a n c e w i t h t h e t e r m s o f t h e r e l e v a n t S e c u r i t y A g r e e m e n t . 6.2 If any applicable law invokes any principle of marshaling or reduction of claims made in respect of the Security the Security Trustee shall, in so far as it is permitted by any applicable law, apply the proceeds of claims in such a manner as to preserve the Secured Obligations in so far as it is able to do so and to give effect to the priority of payments imposed by the terms of the relevant Security Agreement.

Proceeds of enforcement. Subject to the rights of any creditor with prior Security Interest or a preferential claim, the proceeds of enforcement of the Security Interest under the Security Documents must be paid to the Facility Agent.

Proceeds of enforcement. (a) Subject to the rights of any creditor with prior security or a preferential claim, the proceeds of enforcement of the security under the Security Documents must be paid to the Security Trustee. (b) Any proceeds of enforcement of the security under the Security Documents, and any amount paid to the Security Trustee under any Trustee Document must be applied in the following order of priority: (i) first, in or towards payment of or provision for all costs and expenses incurred by the Administrative Parties or any receiver, attorney or agent appointed under the Security Documents and of all remuneration due to any receiver, attorney or agent under or in connection with the Security Documents; (ii) secondly, in or towards payment of any accrued interest, fees or other amounts (other than principal) due but unpaid under this Agreement; (iii) thirdly, in or towards payment of any principal amount due but unpaid under this Agreement; (iv) fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents; and

Proceeds of enforcement. Subject to the payment of any claim ranking in priority as a matter of law, the proceeds of enforcement of the Security constituted by the Transaction Security Documents shall be paid to the Security Agent and those proceeds (together with all other amounts paid to the Security Agent in accordance with the terms of this Agreement or any other Finance Document) shall be applied in the following order: (a) First, in satisfaction of all costs, charges, expenses (including legal expenses) and liabilities properly incurred by the Security Agent or any Insolvency Representative appointed under the Transaction Security Documents or their attorneys or agents and of the remuneration of such Insolvency Representative (and all interest on such sums as provided in the Finance Documents); (b) Second, in payment of all reasonable costs and expenses (including legal expenses) properly incurred by or on behalf of any other Finance Party in connection with such enforcement; (c) Third, in payment to the Agent for application in or towards the discharge of the Loans on a pro rata basis; and (d) Fourth, any surplus to such persons who may be entitled to them.

Proceeds of enforcement Sample Clauses

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