Common use of Allocation of Payments Received Clause in Contracts

Allocation of Payments Received. (1) 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 Percentage Shares, by wire transfer of like funds received on the date of receipt if received by the Administrative Agent before 1:00 p.m. (New York time) or if received later, by 1:00 p.m. (New York time) on the next succeeding Business Day, without further interest payable by the Administrative Agent.

Allocation of Payments Received. (1i) 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 Percentage SharesNotes, by wire transfer of like funds received on the date of receipt if received by the Administrative Agent before 1:00 p.m. 11:00 a.m. (New York time) or if received later, by 1:00 p.m. 11:00 a.m. (New York time) on the next succeeding Business Day, without further interest payable by the Administrative Agent.

Allocation of Payments Received. (1i) 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 Percentage Shares, by wire transfer of like funds received on the date of receipt if received by the Administrative Agent before 1:00 2:00 p.m. (New York time) or if received later, by 1:00 2:00 p.m. (New York time) on the next succeeding Business Day, without further interest payable by the Administrative Agent.