Common use of Revolving Facility Remedies Clause in Contracts

Revolving Facility Remedies. (a) If a Facility Default or an Early Termination Event has occurred (and in the case of an Early Termination Event, after the Lender has taken the actions described in Section 6.02(c)), subject to Article Ten, the Lender may (i) commence appropriate Proceedings and pursue any of its other rights, remedies, powers or privileges under this Agreement or otherwise and (ii) direct the Collateral Agent to (and the Collateral Agent will) (A) institute Proceedings for the complete or partial foreclosure on the Collateral included in the Revolving Facility Pool, (B) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the rights and remedies of the Lender and, to the extent of the Collateral included in the Revolving Facility Pool, the Collateral Agent and/or (C) sell or otherwise liquidate all or any portion of the Collateral included in the Revolving Facility Pool, or any right or interest in such Collateral, at one or more public or private sales called and conducted in any manner permitted by law. Any Secured Party may submit a bid with respect to any such liquidation or sale. (b) The proceeds of any liquidation or sale of the Collateral included in the Revolving Facility Pool pursuant to Section 6.03(a)(ii)(C) will be applied in accordance with the following priorities: (i) First, to pay the Collateral Agent any amounts due with respect to the Revolving Facility or the Revolving Facility Pool under Section 3.01(c) or Article Eight; (ii) Second, to pay to the Administrative Agent any amounts due with respect to the Revolving Facility or the Revolving Facility Pool under Section 7.05 or Article Eight; (iii) Third, to make the payments described in Section 10.02(a); (iv) Fourth, to make payments to the Lender, to the extent necessary to reduce the Revolving Facility Balance to zero and to pay all accrued and unpaid interest on the Advances; and (v) Fifth, in the manner and in the priority described Section 10.02(e) and (f).

Revolving Facility Remedies. (a) If a Facility Default or an Early Termination Event has occurred (and in the case of an Early Termination Event, after the Lender has taken the actions described in Section 6.02(c)), subject to Article TenX, the Lender may (i) commence appropriate Proceedings and pursue any of its other rights, remedies, powers or privileges under this Agreement or otherwise and (ii) direct the Collateral Agent to (and the Collateral Agent will) (Ax) institute Proceedings for the complete or partial foreclosure on the Collateral included in the Revolving Facility Pool, (By) exercise any remedies of a secured party under the UCC and take any other appropriate action to protect and enforce the rights and remedies of the Lender and, to the extent of the Collateral included in the Revolving Facility Pool, the Collateral Agent and/or (Cz) sell or otherwise liquidate all or any portion of the Collateral included in the Revolving Facility Pool, or any right or interest in such Collateral, at one or more public or private sales called and conducted in any manner permitted by law. Any Secured Party may submit a bid with respect to any such liquidation or sale. (b) The proceeds of any liquidation or sale of the Collateral included in the Revolving Facility Pool pursuant to Section 6.03(a)(ii)(C6.03(a)(ii)(z) will be applied in accordance with the following prioritiesorder of priority: (i) First, to pay the Collateral Agent any amounts due with respect to the Revolving Facility or the Revolving Facility Pool under Section 3.01(c) or Article EightVIII; (ii) Second, to pay to the Administrative Agent any amounts due with respect to the Revolving Facility or the Revolving Facility Pool under Section 7.05 or Article EightVIII; (iii) Third, to make the payments described in Section 10.02(a);, (iv) Fourth, to make payments to the Lender, to pay all accrued and unpaid interest on the Advances and then to the extent necessary to reduce the Revolving Facility Balance to zero and to pay all accrued and unpaid interest on the Advanceszero; and (v) Fifth, in the manner and in the priority described Section 10.02(e) and (f).