Application of Net Sale Proceeds Sample Clauses

Application of Net Sale Proceeds. Upon the Ship being delivered to and accepted by a purchaser of the Ship, the leasing of the Ship under this Agreement shall terminate and the Net Sale Proceeds shall be applied as follows: FIRST: in retention by the Lessor of an amount equal to 0.01% of the Net Sale Proceeds; SECOND: in or towards payment to the Lessor of amounts equal to all or any part of the Termination Amount which, as at the date of the receipt by the Lessor of the Net Sale Proceeds, has not been paid to the Lessor by or on behalf of the Lessee; THIRD: in or towards settlement of any other amounts then due and payable but unpaid by the Lessee to the Lessor under the Transaction Documents and any amounts then due and payable but unpaid by the Lessee to the Lessor under the Sister Ship Transaction Documents; and FOURTH: the remainder in payment to the Lessee by way of rebate of Rental.
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Application of Net Sale Proceeds. Without prejudice to the obligation of the Lessee to make the payments referred to in clause 27.1, upon any such termination as is referred to in clause 27.1 and provided that the Lessor shall not be prevented from so doing for any reason whatsoever (including, without limitation, if prevented from doing so by reason of the provisions of clause 9 of the Proceeds Deed), the Lessor or, where applicable, the Relevant Security Agent as agent of the Lessor pursuant to the provisions of clause 9 of the Proceeds Deed shall endeavour to sell the Ship as soon as practicable. The Net Sale Proceeds shall be applied by the Lessor as follows:
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Application of Net Sale Proceeds. Upon the sale of any House, the Net Sale Proceeds from each House will be applied first to the payment of all Indebtedness applicable to such House and then, for so long as any indebtedness constituting the Other Obligations remains outstanding under the Development Tranche, to the reduction of the outstanding indebtedness constituting the Other Obligations under the Development Tranche (which shall be paid directly from Borrower to Lender with a corresponding "credit" being made to Borrower's obligations to SPOC under the Development Loan and to SPOC's obligations to Lender under the Development Tranche). Once the Development Tranche has been repaid and satisfied in full, Borrower will be entitled to apply excess Net Sale Proceeds after payment of all Indebtedness applicable to such House and/or Lot as Borrower shall determine; provided, however, that after the payment and satisfaction in full of the Development Tranche, Lender shall at all times thereunder have the first and prior right and option at its election to apply 100% of any such excess Net Sale Proceeds to the reduction of the Borrower's indebtedness to Lender under the Note and with respect to the Loan.
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Application of Net Sale Proceeds. The Lessor and the Lessee agree that any Net Sale Proceeds will be applied as follows:
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Application of Net Sale Proceeds. (A) Immediately upon the closing of any sale of a condominium unit, Borrower shall remit to Lender one hundred percent (100%) of the Net Sales Proceeds as shown on the closing statement executed by Borrower and the purchaser with respect to such sale (and so long as Borrower shall have satisfied the requirements of Section 9.4 of this ----------- Agreement), Lender shall release the unit from the lien of the Mortgage.
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Related to Application of Net Sale Proceeds

  • Application of Net Proceeds The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Application of Sale Proceeds In the event of a sale of Shares, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Shares or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.

  • Application of Net Liquidation Proceeds For all purposes under this agreement, Net Liquidation Proceeds received from a Servicer shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

  • Application of Collections On each Payment Date, all collections for the related Collection Period shall be applied by the Servicer as follows:

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Application of Foreclosure Sale Proceeds Mortgagee shall apply the proceeds of any Foreclosure Sale in the following manner:

  • Application of Proceeds of Sale and Cash The proceeds of sale of the Pledged Securities sold pursuant to Section 10.5 hereof shall be applied by the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders as follows:

  • Distribution of Net Cash Flow Net Cash Flow shall be distributed among the Partners in accordance with their Partnership Percentages at such times and in such amounts as shall be determined by the General Partner.

  • Application of Collateral and Proceeds The proceeds of any sale of, or other realization upon, all or any part of the Collateral shall be applied in the following order of priorities:

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