Common use of Post-Default Allocation Clause in Contracts

Post-Default Allocation. Notwithstanding anything in any Loan Document to the contrary, during an Event of Default under Section 11.1(j), or during any other Event of Default at the discretion of Agent or Required Lenders, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows: (a) First, to all fees, indemnification, costs and expenses, including Extraordinary Expenses, owing to Agent and Lenders; (b) Second, to all other amounts owing to Agent, including Swingline Loans, Protective Advances, and Revolver Loans and participations that a Defaulting ▇▇▇▇▇▇ has failed to settle or fund; (c) Third, to all amounts owing to Issuing Bank on LC Obligations;