Proceeds of Recovery Sample Clauses

Proceeds of Recovery. Subject to statutory priorities (if any), all amounts received by the Bank from any proceedings instituted or step taken under any of the Security Documents are be applied by the Bank: FIRSTLY in payment of any rents, taxes, assessments, fees, lawful outgoings and other fees due and payable to the relevant authorities by the Customer in respect of the Property charged or assigned to the Bank as security for the Facility; SECONDLY in the enforcement of any of the Security Documents or in the performance of any duties or the exercise of any powers vested in the Bank, in payment of any costs, charges, expenses and liabilities incurred by the Bank and every person appointed by the Bank under the Security Documents THIRDLY in or towards payment to the Bank of all profit then accrued and remaining unpaid in respect of the Facility; FOURTHLY in or towards payment to the Bank of the facility sum due and remaining unpaid under the Facility; FIFTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid under any or all of the Security Documents; SIXTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid; SEVENTHLY any surplus will be paid to persons entitled to such surplus. PROVIDED ALWAYS THAT the Bank may alter the above order of payment or keep such amounts in a non-profit bearing suspense account. Such alteration in the order of payment, or payment into a suspense account, will not affect the right of the Bank to receive the full amount to which it would have been entitled if the primary order had been observed, or any lesser amount which the sum ultimately realised from the security may be sufficient to pay.
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Proceeds of Recovery. Subject to statutory priorities (if any), all amounts received by the Bank from any proceeding instituted or step taken under any of the Security Documents shall be applied by the Bank as follows: FIRSTLY in payment of any rents, taxes, assessments, fees, lawful outgoings and other fees due and payable to the relevant authorities by the Borrower in respect of the Property charged or assigned to the Bank as security for the Staff Loan/Facility; SECONDLY in the enforcement of any of the Security Documents or in the performance of any duties or the exercise of any powers vested in the Bank, in payment of any costs, charges, expenses and liabilities incurred by the Bank and every person appointed by the Bank in realising any security under the Security Documents (this include the fees and charges mentioned herein); THIRDLY in or towards payment to the Bank of all interest then accrued and remaining unpaid in respect of the Staff Loan/Facility; FOURTHLY in or towards payment to the Bank of the principal sum due and remaining unpaid under the Staff Loan/Facility; FIFTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid under any or all of the Security Documents; SIXTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid; SEVENTHLY in payment of any net surplus to the Borrower or the persons entitled to such surplus within sixty
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Proceeds of Recovery. To delete the existing provision in the Agreement with respect to application of proceeds and insert the following new clause: “Subject to statutory priorities (if any), laws and guidelines issued by any regulatory authorities, all amounts received by the Bank from any proceeding instituted or step taken under any of the Security Documents are to be applied by the Bank: FIRSTLY in payment of any rents, taxes, assessments, fees, lawful outgoings and other fees due and payable to the relevant authorities by the Security Party in respect of the Property charged or assigned to the Bank as security for the Facility; SECONDLY in the enforcement of any of the Security Documents or in the performance of any duties or the exercise of any powers vested in the Bank, in payment of any costs, charges, expenses and liabilities incurred by the Bank and every person appointed by the Bank in realising any security under the Security Documents (this include the fees and charges mentioned herein);
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Proceeds of Recovery. Subject to statutory priorities (if any), all amounts received by the Bank from any proceedings instituted or step taken under any of the Security Documents are to be applied by the Bank: FIRSTLY to pay quit rent, rates, taxes, assessments and other outgoings due to the Government; SECONDLY to pay (i) all costs, charges and expenses incurred and payments made by the Bank under the provisions of any of the Security Documents and
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Proceeds of Recovery. (a) All monies received by the Bank from any proceedings instituted or steps taken under this Agreement will be applied in the following order:-
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Proceeds of Recovery. 9.2 Subject to statutory priorities (if any), all amounts received by the Bank from any proceeding instituted or step taken under any of the Security Documents are be applied by the Bank: FIRSTLY in payment or any rents, taxes, assessments, fees, lawful outgoings and other fees due and payable to the relevant authorities by the Borrower in respect of the Property charged or assigned to the Bank as security for the Facility; SECONDLY in the enforcement of any of the Security Documents or in the performance of any duties or the exercise of any powers vested in the Bank, in payment of any costs, charges, expenses and liabilities incurred by the Bank and every person appointed by the Bank under the Security Documents; THIRDLY in or towards payment to the Bank of all interest then accrued and remaining unpaid in respect of the Facility; AmBank Standard Housing Loan Agreement (for RM500,000 and below) (1st Party) (SHL/17052016/V3) FOURTHLY in or towards payment to the Bank of the principal sum due and remaining unpaid under the Facility; FIFTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid under any or all of the Security Documents; SIXTHLY in or towards payment to the Bank of all other moneys due and remaining unpaid; SEVENTHLY any surplus will be paid to persons entitled to such surplus; PROVIDED ALWAYS THAT the Bank may alter the above order of payment or keep such amounts in a non-interest bearing suspense account. Such alteration in the order of payment, or payment into a suspense account, will not affect the right of the Bank to receive the full amount to which it would have been entitled if the primary order had been observed, or any lesser amount which the sum ultimately realized from the security may be sufficient to pay.
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Proceeds of Recovery 
Sample 1
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Related to Proceeds of Recovery

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Use of Proceeds of the Loan Section 3.01. The Borrower shall cause the proceeds of the Loan to be applied to the financing of expenditures on the Project in accordance with the provisions of this Loan Agreement.

  • Cost Recovery The Parties acknowledge that the price for energy as described in Exhibit A includes the Consultant Commission described in Exhibit A to cover the cost of developing, implementing and operating the Aggregation. The Competitive Supplier agrees to include this cost adder in the Price for energy, and to make the monthly commission payments on behalf of Participating Consumers, in the manner described in Exhibit A, and acknowledges this obligation as a material obligation of this Agreement.

  • Credit, Payment and Collection You will receive a single monthly bill for both your natural gas and the delivery of such natural gas from your utility distribution company. Payment is due by the date set forth on the invoice. Should you fail to pay the monthly bill or fail to meet any agreed upon payment arrangement, your service may be terminated in accordance with your local utility’s tariffs and your contract with XOOM may be automatically terminated, leading to XOOM seeking cost recovery fees as set out herein. You represent that you are financially able and willing to fulfill the terms and conditions of this Agreement and that you have not filed, are not in the process of filing or plan to begin any bankruptcy proceedings. If accepted as a customer, XOOM may report your payment experience. Bills not paid by their due date are subject to a late payment fee at the greater of the rate of 1.5%, or the maximum permitted by law, based on your total outstanding balance per month. XOOM will charge a $35 return check fee for all returned checks or the maximum allowed by law. XOOM may terminate your commodity service and may suspend services under procedures approved by law. In all events, you shall remain obligated to pay for all natural gas received by you and any interest, fees and penalties incurred by XOOM. You will also be responsible for all costs, including legal fees, associated with the collection of amounts owed to XOOM.

  • Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in Value of the Property In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property (each, a “Partial Devaluation”) where the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument unless Borrower and Lender otherwise agree in writing. The amount of the Miscellaneous Proceeds that will be so applied is determined by multiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of the sums secured immediately before the Partial Devaluation, and dividing it by (ii) the fair market value of the Property immediately before the Partial Devaluation. Any balance of the Miscellaneous Proceeds will be paid to Borrower. In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial Devaluation is less than the amount of the sums secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not the sums are then due, unless Borrower and Lender otherwise agree in writing.

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