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 (other than Additional Interest Amounts but including Amounts in Arrears), and any Additional Amounts related thereto to the date of such payment, second, to the payment of accrued and unpaid Additional Interest Amounts, and any Additional Amounts related thereto, and third, the balance, if any, on the Maturity Date to the payment of the principal amount of such Note remaining unpaid, and any Additional Amounts related thereto.

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 (other than Additional Interest Amounts but including Amounts in Arrears), and any Additional Amounts related thereto to the date of such payment, second, to the payment of accrued and unpaid Additional Interest Amounts, and any Additional Amounts related thereto, and third, the balance, if any, on the Maturity Date or Optional Redemption Date to the payment of the principal amount of such Note remaining unpaid, and any Additional Amounts related thereto.