Common use of Allocation of Principal and Interest Clause in Contracts

Allocation of Principal and Interest. Each payment of principal of and interest on each Note shall be applied, first, to the payment of accrued but unpaid interest on such Note (as well as any interest on overdue principal or, to the extent permitted by applicable Law, overdue interest) to the date of such payment, second, to the payment of the principal amount of and interest on such Note then due (including any overdue installment of principal) thereunder, and third, the balance, if any, to the payment of the principal amount of such Note remaining unpaid.

Allocation of Principal and Interest. Each Except as otherwise provided in this Indenture with respect to any payments made on the Closing Date, each payment of principal of and interest on each Note shall be applied, first, to the payment of accrued but unpaid interest on such Note (as well as any interest on overdue principal or, to the extent permitted by applicable Law, overdue interest) to the date of such payment, second, to the payment of the principal amount of and interest on such Note then due (including any overdue installment of principal) thereunder, and third, the balance, if any, to the payment of the principal amount of such Note remaining unpaid.

Allocation of Principal and Interest. Each payment of principal of and interest on each Note shall be applied, first, to the payment of accrued but unpaid interest on such Note (as ----- well as any interest on overdue principal or, to the extent permitted by applicable Law, overdue interest) to the date of such payment, second, to the ------ payment of the principal amount of and interest on such Note then due (including any overdue installment of principal) thereunder, and third, the balance, if ----- any, to the payment of the principal amount of such Note remaining unpaid.

Allocation of Principal and Interest. Each payment of principal of and interest on each Note shall be applied, firstFIRST, to the payment of accrued but unpaid interest on such Note (as well as any interest on overdue principal or, to the extent permitted by applicable Law, overdue interest) to the date of such payment, secondSECOND, to the payment of the principal amount of and interest on such Note then due (including any overdue installment of principal) thereunder, and thirdTHIRD, the balance, if any, to the payment of the principal amount of such Note remaining unpaid.