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 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.

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 commitment 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 ----- 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 Percentage Regular Repayment Shares.