Application of Funds. After the exercise of remedies provided for in [Section 9.02] (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to [Section 9.02]), any amounts received on account of the Obligations shall, subject to the provisions of [Section 2.16], be applied by the Administrative Agent in the following order:
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