Application of Proceeds and Other Moneys Clause Samples

The 'Application of Proceeds and Other Moneys' clause defines how funds received—such as from asset sales, insurance claims, or loan repayments—are to be distributed or used under the agreement. Typically, this clause outlines the order of priority for applying these funds, for example, first to cover outstanding debts, then to pay fees or expenses, and finally to distribute any remaining amounts to relevant parties. Its core function is to ensure transparency and fairness in the allocation of received funds, preventing disputes over how money is handled and protecting the interests of creditors or stakeholders.
Application of Proceeds and Other Moneys. The proceeds received by the Trustee from the sale of the 2019 Certificates shall forthwith be set aside by the Trustee in the following respective amounts and funds: (a) $ into the Delivery Costs Fund; and (b) $ into the Project Fund.
View SourceView Similar (2)
Application of Proceeds and Other Moneys. Section 6.01. Establishment of Funds . - 13 - Section 6.02. Application of Proceeds of Series 2015 Certificates and Other Moneys .................. - 13 - Section 6.03. Application of Lease Revenues ................................................................................. - 13 - Section 6.04. Disbursements from the Project Fund ....................................................................... - 14 - Section 6.05. Application of Moneys in the Lease Revenue Fund.................................................. - 14 - Section 6.06. Rebate Fund............................................................................................................... - 14 - Section 6.08. Repayment to the City. .............................................................................................. - 14 - Section 6.08. Payments Due on Days other than Business Days .................................................... - 14 - Section 6.09. Nonpresentment of Certificates ................................................................................. - 14 - Section 6.10. Separate Accounting of Funds Allocable to each Series of Certificates .................... - 15 - Section 8.01. Amendments Permitted . - 16 -
View SourceView Similar (2)
Application of Proceeds and Other Moneys. (a) The net proceeds received by the Trustee from the sale of the Series A Certificates in the aggregate amount of $ , being the face amount of the Series A Certificates ($ ), less an Underwriter’s discount of $ , plus an original issue premium of $ , shall forthwith be deposited by the Trustee in the following respective funds: (i) An amount equal to $ shall be deposited in the Project Fund; (ii) An amount equal to $ shall be deposited in the Delivery Costs Fund; and (iii) An amount equal to $ , which, together with a portion of the Series B Certificates as described in Section 2.07(b)(iii), is equal to the Reserve Requirement, shall be deposited in the Reserve Fund. (b) The net proceeds received by the Trustee from the sale of the Series B Certificates in the aggregate amount of $ , being the face amount of the Series B Certificates ($ ), less an Underwriter’s discount of $ , plus an original issue premium of $ , shall forthwith be deposited by the Trustee in the following respective funds: (i) An amount equal to $ shall be deposited in the Project Fund; (ii) An amount equal to $ shall be deposited in the Delivery Costs Fund; and (iii) An amount equal to $ , which, together with a portion of the Series B Certificates as described in Section 2.07(a)(iii), is equal to the Reserve Requirement, shall be deposited in the Reserve Fund. (c) The Trustee may establish a temporary fund or account in its records to facilitate such deposits and transfers.
View Source

Related to Application of Proceeds and Other Moneys

  • Application of Proceeds Subject to the terms of any First Lien Intercreditor Agreement and any Second Lien Intercreditor Agreement, any amount received by the Administrative Agent or the Collateral Agent from any Credit Party (or from proceeds of any Collateral) following any acceleration of the Obligations under this Agreement or any Event of Default with respect to the Borrower under Section 11.4 shall be applied: (i) first, to the payment of all reasonable and documented costs and expenses incurred by the Administrative Agent or the Collateral Agent in connection with any collection or sale of the Collateral or otherwise in connection with any Credit Document, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent or the Collateral Agent hereunder or under any other Credit Document on behalf of any Credit Party and any other reasonable and documented costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Credit Document to the extent reimbursable hereunder or thereunder; (ii) second, to the Secured Parties, an amount (x) equal to all Obligations owing to them on the date of any distribution and (y) sufficient to Cash Collateralize all L/C Obligations on the date of any distribution, and, if such moneys shall be insufficient to pay such amounts in full and Cash Collateralize all L/C Obligations, then ratably (without priority of any one over any other) to such Secured Parties in proportion to the unpaid amounts thereof and to Cash Collateralize the L/C Obligations; and (iii) third, any surplus then remaining shall be paid to the applicable Credit Parties or their successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct; provided that any amount applied to Cash Collateralize any L/C Obligations that has not been applied to reimburse the Borrower for Unpaid Drawings under the applicable Letters of Credit at the time of expiration of all such Letters of Credit shall be applied by the Administrative Agent in the order specified in clauses (i) through (iii) above. Notwithstanding the foregoing, amounts received from any Guarantor that is not an “Eligible Contract Participant” (as defined in the Commodity Exchange Act) shall not be applied to its Obligations that are Excluded Swap Obligations.

  • PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS If (a) this Warrant is placed in the hands of an attorney for collection or enforcement or is collected or enforced through any legal proceeding or the holder otherwise takes action to collect amounts due under this Warrant or to enforce the provisions of this Warrant or (b) there occurs any bankruptcy, reorganization, receivership of the company or other proceedings affecting company creditors’ rights and involving a claim under this Warrant, then the Company shall pay the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or other proceeding, including, without limitation, attorneys’ fees and disbursements.

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Litigation and Other Notices Furnish to the Administrative Agent (which will promptly thereafter furnish to the Lenders) written notice of the following promptly after any Responsible Officer of the Company obtains actual knowledge thereof: (a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken with respect thereto; (b) the filing or commencement of, or any written threat or notice of intention of any person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority or in arbitration, against any Loan Party or any Subsidiary as to which an adverse determination is reasonably probable and which, if adversely determined, would reasonably be expected to have a Material Adverse Effect; (c) any other development specific to any Loan Party or any Subsidiary that is not a matter of general public knowledge and that has had, or would reasonably be expected to have, a Material Adverse Effect; (d) the development of any ERISA Event that, together with all other ERISA Events that have developed or occurred, would reasonably be expected to have a Material Adverse Effect; and (e) any change in the information provided in the Beneficial Ownership Certification delivered to such Lender that would result in a change to the list of beneficial owners identified in such certification.

  • Litigation and Other Proceedings Except as disclosed in the SEC Documents, there are no lawsuits or proceedings pending or, to the knowledge of the Company, threatened, against the Company or any subsidiary, nor has the Company received any written or oral notice of any such action, suit, proceeding or investigation, which could reasonably be expected to have a Material Adverse Effect. Except as set forth in the SEC Documents, no judgment, order, writ, injunction or decree or award has been issued by or, to the knowledge of the Company, requested of any court, arbitrator or governmental agency which could result in a Material Adverse Effect.