Common use of Application of Sums Received Clause in Contracts

Application of Sums Received. Subject to the other provisions of this clause 17, the Security Trustee shall apply all amounts standing to the credit of any account referred to in clause 17.3 and any other amounts realised pursuant to the exercise of any rights or powers it might have pursuant to this Deed: 17.4.1 first, in the payment of any costs, charges and expenses of or incidental to the appointment of any receiver under the Act, the payment of his remuneration and the payment and discharge of any other Expenses incurred by or on behalf of such receiver; 17.4.2 secondly, in or towards payment of any debts or claims which are by statute payable in preference to the Secured Obligations but only to the extent to which such debts or claims have such preference; 17.4.3 thirdly, in or towards payment and discharge pro rata of any Secured Obligations then due, owing or incurred to the Security Trustee, in its capacity as Security Trustee (and not in any other capacity) for its own account; 17.4.4 fourthly, in payment to the Agent to be applied by the Agent in or towards payment and discharge of the balance of the Secured Obligations (if any) in accordance with the provisions of Section 3 of the Agreement; and 17.4.5 fifthly, in payment of the surplus (if any) to the Mortgagor or such other person entitled thereto.

Application of Sums Received. Subject to the other provisions of this clause 1727, the Security Trustee shall apply all amounts standing to the credit of any account referred to in clause 17.3 27.3 and any other amounts realised pursuant to the exercise of any rights or powers it might have pursuant to this Deedany of the Security Documents: 17.4.1 27.4.1 first, in the payment of any costs, charges and expenses of or incidental to the appointment of any receiver under Receiver pursuant to the ActSecurity Documents, the payment of his remuneration and the payment and discharge of any other Expenses incurred by or on behalf of such receiverthe Receiver; 17.4.2 27.4.2 secondly, in or towards payment of any debts or claims which are by statute payable in preference to the Secured Obligations but only to the extent to which such debts or claims have such preference; 17.4.3 27.4.3 thirdly, in or towards payment and discharge pro rata of any Secured Obligations then due, owing or incurred to the Security Trustee, in its capacity as Security Trustee (and not in any other capacity) for its own account;; and 17.4.4 27.4.4 fourthly, in payment to the Agent to be applied by the Agent in or towards payment and discharge of the balance of the Secured Obligations (if any) in accordance with the provisions of Section 3 of the Agreement; and 17.4.5 fifthly, in payment of the surplus (if any) to the Mortgagor or such other person entitled thereto.of