Proceeds of Recoveries from Lessee. Any payments received by any Funding Party when an Event of Default exists from a Lessee as a payment in accordance with the Lease shall be paid to the Agent as promptly as possible, and shall then be distributed or applied by the Agent as promptly as possible in the order of priority set forth in paragraph (a) above.
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Sources: Master Agreement (Choicepoint Inc)
Proceeds of Recoveries from Lessee. Any payments received by any Funding Party when an Event of Default exists from a the Lessee as a payment in accordance with the Lease or from the Guarantor pursuant to the Guaranty Agreement shall be paid to the Agent as promptly as possible, and shall then be distributed or applied by the Agent as promptly as possible in the order of priority set forth in paragraph (a) above.
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