Common use of Proceeds of Remedies Clause in Contracts

Proceeds of Remedies. Any or all proceeds resulting from the exercise of any or all of the foregoing remedies shall be applied as set forth in the Loan Document(s) providing the remedy or remedies exercised; if none is specified, or if the remedy is provided by this Agreement, then as follows: (a) First, to the costs and expenses, including reasonable attorney and paralegal fees and costs, incurred by Lender in connection with the exercise of its remedies; (b) Second, to the expenses of curing the default that has occurred, in the event that Lender elects, in its sole discretion, to cure the default that has occurred; (c) Third, to the payment of accrued and unpaid interest on the indebtedness evidenced by the Notes; (d) Fourth, to the payment of the unpaid principal of the Notes; (e) Fifth, to the payment of all other Secured Obligations; and (f) Sixth, the remainder, if any, to the Borrowers or to any other person lawfully thereunto entitled.

Proceeds of Remedies. Any or all proceeds resulting from the exercise of any or all of the foregoing remedies shall be applied as set forth in the Loan Document(s) providing the remedy or remedies exercised; if none is specified, or if the remedy is provided by this Agreement, then as follows: (a) First, to the costs and expenses, including reasonable attorney and paralegal fees and costs, incurred by Lender in connection with the exercise of its remedies; (b) Second, to the expenses of curing the default that has occurred, in the event that Lender elects, in its sole discretion, to cure the default that has occurred; (c) Third, to the payment of accrued and unpaid interest on the indebtedness evidenced by the NotesNote; (d) Fourth, to the payment of the unpaid principal of the NotesNote; (e) Fifth, to the payment of all other Secured ObligationsObligations that are due and payable; and (f) Sixth, the remainder, if any, to the Borrowers Borrower or to any other person lawfully thereunto entitled.

Proceeds of Remedies. Any or all proceeds resulting from the exercise of any or all of the foregoing remedies shall be applied as set forth in the Loan Document(s) providing the remedy or remedies exercised; if none is specified, or if the remedy is provided by this Agreement, then as follows: (a) First, to the costs and expenses, including reasonable attorney and paralegal fees and costs, incurred by Lender in connection with the exercise of its remedies; (b) Second, to the expenses of curing the default that has occurred, in the event that Lender elects, in its sole discretion, to cure the default that has occurred; (c) Third, to the payment of accrued and unpaid interest on the indebtedness evidenced by the NotesNote; (d) Fourth, to the payment of the unpaid principal of the NotesNote; (e) Fifth, to the payment of all other Secured Obligations; and (f) Sixth, the remainder, if any, to the Borrowers Borrower or to any other person lawfully thereunto entitled.

Proceeds of Remedies. Any or all proceeds resulting from the exercise of any or all of the foregoing remedies shall be applied as set forth in the Loan Document(s) providing the remedy or remedies exercised; if none is specified, or if the remedy is provided by this Agreement, then as follows: (a) FirstFIRST, to the costs and expenses, including reasonable attorney and paralegal fees and costs, incurred by Lender in connection with the exercise of its remedies; (b) SecondSECOND, to the expenses of curing the default that has occurred, in the event that Lender elects, in its sole discretion, to cure the default that has occurred; (c) ThirdTHIRD, to the payment of accrued and unpaid interest on the indebtedness evidenced by the Notes; (d) FourthFOURTH, to the payment of the unpaid principal of the Notes; (e) FifthFIFTH, to the payment of all other Secured Obligations; and (f) SixthSIXTH, the remainder, if any, to the Borrowers or to any other person lawfully thereunto entitled.