Common use of Distribution of Funds at the Maturity Date or Upon an Event of Default Clause in Contracts

Distribution of Funds at the Maturity Date or Upon an Event of Default. At the Final Maturity Date or upon the occurrence and during the continuance of an Event of Default, subject to the rights and remedies of the Agent and Collateral Manager pursuant to Section 4.02 hereof, the Collateral Agent and Collateral Manager (for the benefit of the Secured Parties) shall distribute any and all Collections in accordance with the Credit Agreement.

Appears in 2 contracts

Sources: Collateral Management Agreement (BioScrip, Inc.), Credit Agreement (BioScrip, Inc.)