Order of Application of Transaction Security. Subject to the rights of any creditor with prior security or any preferential claim, the proceeds of enforcement of the Transaction Security must be paid to the Intercreditor Agent. Those proceeds and any other amounts paid to the Intercreditor Agent under this Agreement shall be transferred, by wire transfer of immediately available funds, by the Intercreditor Agent to the Collateral Agent's Account for application thereof as provided in the Senior Secured Term Loan Facility.
Appears in 3 contracts
Sources: Intercreditor Agreement (Petersen Energia Inversora, S.A.), Intercreditor Agreement (Petersen Energia, S.A.), Intercreditor Agreement (Repsol Ypf Sa)