Common use of Application of Proceeds from Remedial Actions Clause in Contracts

Application of Proceeds from Remedial Actions. Any proceeds or funds arising from the exercise of any rights or the enforcement of any remedies herein provided after the payment or provision for the payment of any and all costs and expenses in connection with the exercise of such rights or the enforcement of such remedies shall be applied to the Obligations by the Beneficiary, for the ratable benefit of the Secured Parties, as set forth in the Credit Agreement and the balance, if any, shall be paid to whomsoever shall be entitled thereto.

Application of Proceeds from Remedial Actions. Any proceeds or funds arising from the exercise of any rights or the enforcement of any remedies herein provided after the payment or provision for the payment of any and all costs and expenses in connection with the exercise of such rights or the enforcement of such remedies shall be applied to the Obligations by in such order and manner as the BeneficiaryMortgagee shall elect in its sole discretion, for the ratable benefit of the Secured Parties, as set forth in the Credit Agreement and the balance, if any, shall be paid to whomsoever shall be entitled thereto.

Application of Proceeds from Remedial Actions. Any proceeds or funds arising from the exercise of any rights or the enforcement of any remedies herein provided after the payment or provision for the payment of any and all costs and expenses in connection with the exercise of such rights or the enforcement of such remedies shall be applied to the Obligations by in such order and manner as the BeneficiaryBeneficiary shall elect in its sole discretion, for the ratable benefit of the Secured Parties, as set forth in the Credit Agreement and the balance, if any, shall be paid to whomsoever shall be entitled thereto.