Allocations Generally. Absent an Event of Default, monies to be applied to Obligations from payments by Obligors, shall be allocated as follows: (a) if a specific payment of principal, interest, fees or other sum payable under the Loan Documents, according to the instruction of Borrower Agent; (b) if a mandatory prepayment, according to Section 5.3.1; and (c) if any other amount, applied to the Obligations at the discretion of Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Allocations Generally. Absent an Event of Default, monies to be applied to Obligations from payments by Obligors, Obligors shall be allocated as follows:
(a) if a specific payment of principal, interest, fees or other sum payable under the Loan Documents, according to the instruction of Borrower Agent;
(b) if a mandatory prepayment, according to Section 5.3.1; and
(c) if any other amount, applied to the Obligations at the discretion of Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Allocations Generally. Absent an Event of Default, monies to be applied to Obligations from payments by Obligors, Obligors shall be allocated as follows:
(a) if a specific payment of principal, interest, fees or other sum payable under the Loan Documents, according to the instruction of Borrower Agentthe Borrower;
(b) if a mandatory prepayment, according to Section 5.3.1; and
(c) if any other amount, applied to the Obligations at the discretion of Administrative Agent.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Commercial Vehicle Group, Inc.)
