Allocation of Payments Received. (i) Prior to the occurrence of an Event of Default and acceleration of the Obligations, and unless otherwise expressly provided herein, all amounts received by the Administrative Agent on account of the Obligations shall be disbursed by the Administrative Agent to the Lenders pro rata in accordance with their respective Notes, by wire transfer of like funds received on the date of receipt if received by the Administrative Agent before 11:00 a.m. (New York time) or if received later, by 11:00 a.m. (New York time) on the next succeeding Business Day, without further interest payable by the Administrative Agent.
(ii) Following the occurrence of an Event of Default and acceleration of the Obligations, all amounts received by the Administrative Agent on account of the Obligations, shall be promptly disbursed by the Administrative Agent as follows:
(A) First, to the payment of out-of-pocket third party expenses and fees incurred by the Administrative Agent in the performance of its duties and the enforcement of the rights of the Lenders under the Loan Documents, including, without limitation, all costs and expenses of collection, “workout”, reasonable attorneys’ fees, court costs and other amounts payable as provided in Section 14.7 below;
(B) Then, to the Lenders, pro rata in accordance with their respective Percentage Shares, until interest accrued on the Loan has been paid in full;
(C) Then, to the Lenders, pro rata in accordance with their respective Percentage Shares, until principal under the Loan has been paid in full;
(D) Then, to the Lenders, pro rata to each Lender in accordance with the amount expressed in a percentage, which the amount of remaining Obligations owed to such Lender bears to all remaining Obligations held by all Lenders, until all other Obligations have been paid in full.
(iii) The order of priority set forth in Section 2.3.4(ii) and the related provisions of this Agreement are set forth solely to determine the rights and priorities of the Administrative Agent and the other Lenders as among themselves. The order of priority set forth in clauses (B) through (D) of Section 2.3.4(ii) may at any time and from time to time be changed by the Required Lenders without necessity of notice to or consent of or approval by the Borrower or any other Person. The order of priority set forth in clause (A) of Section 2.3.4(ii) may be changed only with the prior written consent of the Administrative Agent.
Allocation of Payments Received. (1) Prior to the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitment of the Lender to advance Loans hereunder, all amounts received by the Lender shall be applied against the outstanding Obligations.
(2) Following the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitments of the Lender to advance Loans hereunder, all amounts received by the Lender on account of the Obligations shall be applied by the Lender as follows:
(i) First, to the payment of reasonable costs and expenses incurred by the Lender in the enforcement of its rights under the Credit Documents, including, without limitation, all costs and expenses of collection, attorneys' fees, court costs and foreclosure expenses;
(ii) Second, to the Lender to be applied against the Obligations until the Obligations shall have been paid in full; and
(iii) Third, to such Persons as may be legally entitled thereto.
Allocation of Payments Received. Promptly after becoming available and in any event within five Business Days after the end of each month, or more frequently as may be reasonably requested by Lender (and, if an Event of Default has occurred and is continuing, such request may be made as often as daily), Borrower shall, or shall cause Servicer to, deliver to Lender information detailing, with respect to each deposit made into the Servicer Account, the specific Note Receivable to which such deposit relates and (i) the amount, if any, of such deposit that relates to a Sold Note Receivable and that Borrower has determined is payable to FTA for the benefit of the purchaser of such Sold Note Receivable, (ii) the amount, if any, of such deposit that relates to a Securitization Note Receivable and that Borrower has determined must be transferred to the trustee or holders of the certificates issued pursuant to a Securitization Transaction, (iii) the amount, if any, of such deposit that relates to a Participated Note Receivable and that Borrower has determined is payable to the purchaser of such Participated Note Receivable, (iv) the amount, if any, of such deposit that relates to a SBA Owned Note Receivable and that Borrower has determined is payable to SBA (any such amount described in clauses (i), (ii), (iii), or (iv) above being the “Allocated Payment Portion”), and (v) the amount of such deposit that relates to Borrower’s retained interest in a Note Receivable and that Borrower has determined is payable to Borrower. The portion payable to Borrower of each amount originally deposited in the Servicer Account and constituting a Borrower Allocated Payment shall be held by Borrower for the benefit of Lender, and Borrower shall, or shall cause Servicer to, cause any such portion to be transferred to the Collection Account within one Business Day after receipt of cleared funds.
Allocation of Payments Received. All money received from the Resident is first applied to any past due balance on the Resident's account, including unpaid rent, late fee, deposit shortage, unpaid damages, charges or fines, or utility charges past due that the
Allocation of Payments Received. (1) Prior to the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitments of the Lenders to advance Loans hereunder, principal amounts received by the Administrative Agent with respect to Loans shall be allocated (i) first, to First Union in payment of any Swing Line Loans ----- which have not been refunded with Regular Loans, then (ii) next, among the ---- Lenders on account of the Obligations pro rata in accordance with their respective Percentage Shares.
(2) Following the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitments of the Lenders to advance Loans hereunder, all amounts received by the Administrative Agent on account of the Obligations shall be disbursed by the Administrative Agent as follows:
(i) First, to the payment of reasonable costs and expenses incurred by the Administrative Agent and Collateral Agent in the performance of their duties and enforcement of their rights under the Credit Documents, including, without limitation, all reasonable costs and expenses of collection, reasonable attorneys' fees, court costs and foreclosure expenses; (ii) Second, to First Union in payment of any Swing Line Loans outstanding (A) in which the Lenders are obligated to purchase participations pursuant to the terms and provisions of Paragraph 2(A)(d)(2) above, (B) which have not been refunded with Regular Loans, and (C) in which participations have not been purchased by the Lenders pursuant to the terms and provisions of Paragraph 2A(d)(2) above;
Allocation of Payments Received. 8.1 The Credit Provider will credit each payment (whether such payment is a fullinstalment, partial instalment or payment of a settlement amount) made by You underthe Agreement as of the date of receipt of payment, as follows:
8.1.1. firstly, to satisfy any due and/or unpaid interest charges; 8.
Allocation of Payments Received. To reflect the agreement of the parties, effective as of the Fourth Amendment Effective Date, Paragraph 5(g) of the Credit Agreement is hereby amended to read in its entirety as follows:
Allocation of Payments Received. (I) Prior to the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitments of the Lenders to advance Loans hereunder, amounts received by the Administrative Agent as proceeds of the sale or other disposition of Eligible Mortgage Loans and Eligible Mortgage-Backed Securities, including without limitation all amounts from time to time deposited in the Settlement Account, shall be allocated among the Lenders as follows:
(i) First, to the Swing Line Lender to repay all outstanding Swing Line Advances;
(ii) Then, pro rata to the Lenders in accordance with their respective Percentage Shares, until the principal amount of the Loan or Loans initially advanced against such Eligible Mortgage Loans and/or Eligible Mortgage-Backed Securities (and the principal amount of all Negotiated Loans) has been paid in full;
(iii) Then, the balance, if any, to the Company.
Allocation of Payments Received. (1) Prior to the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitment of the Lenders to advance Loans hereunder, principal amounts received by the Administrative Agent shall be allocated (i) first, to First Union in payment of any Swing Line Loans outstanding which have not been refunded with Regular Loans, then (ii) next, among the Lenders on account of the Obligations pro rata in accordance with their respective Regular Repayment Shares.
(2) Following the occurrence of an Event of Default and acceleration of all Loans outstanding hereunder or termination of the commitments of the Lenders to advance Loans hereunder, all amounts received by the Administrative Agent on account of the Obligations shall be disbursed by the Administrative Agent as follows:
(i) First, to the payment of reasonable costs and expenses incurred by the Administrative Agent in the performance of its duties
Allocation of Payments Received. All amounts received by the Collateral Agent (including without limitation all amounts credited to the Remittance Account) prior to the occurrence and continuance of any Event of Default or Default on account of the sale or other disposition of the Collateral shall be remitted and applied as provided in Section 9(c) hereof. Any other amounts which may be received by the Collateral Agent prior to the occurrence and continuance of any Event of Default or Default shall be made available to the Company at the principal office of the Lender in Prospect Heights, Illinois or at such other place designated by the Lender. All amounts of any kind which may be received by the Collateral Agent with respect to the Collateral during the continuance of any Default shall be held by the Collateral Agent for the benefit of the Lender until such Default is cured or waived. Any amounts received or held by the Collateral Agent during the continuance of any Event of Default shall be paid to the Lender and applied in accordance with the Credit Agreement.
