Amounts; Application Clause Samples
The 'Amounts; Application' clause defines how monetary amounts are to be handled and applied under the agreement. It typically specifies the types of payments involved, such as fees, reimbursements, or other sums, and outlines the order or manner in which these amounts are to be allocated or credited. For example, it may state that payments received will first be applied to outstanding interest before principal, or that certain amounts must be used for specific purposes. This clause ensures transparency and consistency in financial transactions, reducing the risk of disputes over how payments are processed or applied.
Amounts; Application. Each partial prepayment of any Borrowing made pursuant to Section 2.05(a) shall be in an amount that would be permitted in the case of a Borrowing as provided in Section 2.02. Each prepayment shall be applied ratably to the outstanding Loans and to each Lender on a pro rata basis. All prepayments pursuant to Section 2.05(a) and (b) shall be accompanied by interest accrued but unpaid interest up to, but not including, the date of the applicable repayment with respect to the applicable Loans being prepaid, to the extent required by Section 2.08.
Amounts; Application. Each partial prepayment of any Borrowing shall be in an amount not less than $1,000,000. Each prepayment of a Borrowing shall be applied ratably to the Loans included in such Borrowing. Prepayments shall be accompanied by accrued and unpaid interest to the extent required by Section 2.12, together with any additional amounts required pursuant to Section 2.17.
Amounts; Application. Each prepayment of the Borrowing shall be applied ratably to the Loans. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.05.
Amounts; Application. All prepayments shall be applied as directed by the Borrower and shall be accompanied by accrued interest to the extent required by Section 2.09.
Amounts; Application. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.09.
Amounts; Application. All prepayments shall be applied as directed by the Borrower unless a Default or Event of Default shall have occurred and be continuing and shall be accompanied by accrued interest to the extent required by Section 2.09; provided, however, any prepayment of principal due under an Incremental Facility shall be accompanied by the accrued interest thereon.
Amounts; Application. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.03(c). Each partial prepayment of the outstanding principal amount of the Term Loan pursuant to Section 2.05(b) shall be in an aggregate principal amount of at least $2,000,000.
Amounts; Application. (i) Each partial prepayment of any Borrowing pursuant to Section 2.8(a) shall be in an amount that would be permitted in the case of a Borrowing of the same Type as provided in Section 2.2. Each prepayment of a Borrowing shall be applied ratably to the Loans included in such Borrowing.
(ii) Prepayments of Loans under Section 2.8(b) shall be applied to the Outstanding Amount of the Revolving Loans, and in each case shall be applied first, to any Base Rate Loans then outstanding, and second, to any SOFR Loans then outstanding, and if more than one SOFR Loan is then outstanding, to such SOFR Loans in such order as the Borrower may direct, or if the Borrower fails to so direct, as the Administrative Agent shall elect. For the avoidance of doubt, the application of any mandatory prepayment to the Outstanding Amount of the Revolving Loans made pursuant to this Section 2.8(d)(ii) shall not result in a corresponding permanent reduction of the Aggregate Revolving Commitments. Unless so directed by the Borrower, or unless an Event of Default exists, any prepayment of Loans pursuant to Section 2.8(b) shall only be applied to the outstanding SOFR Loans (A) on the last day of the Interest Period applicable thereto or (B) to the extent that there are no outstanding Base Rate Loans, and, in any such event, the Borrower shall pay all amounts required pursuant to Section 2.16.
(iii) All prepayments shall be accompanied by accrued interest to the extent required by Section 2.11, together with any additional amounts required pursuant to Section 2.16.
Amounts; Application. Each partial prepayment of Term Loans shall be in an amount that would be permitted in the case of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of outstanding Term Loans pursuant to this Section shall be applied to the principal balance thereof. Each prepayment of Term Loans shall be applied ratably to the outstanding Term Loans. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12, together with any additional amounts required pursuant to Section 2.17.
Amounts; Application. (i) Each partial prepayment of any Borrowing pursuant to Section 2.5(a) shall be in an amount that would be permitted to be borrowed pursuant to Section 2.2. All prepayments of the Advancing Term Loans pursuant to Section 2.5(a) shall be applied to the Outstanding Amount thereof and, to the extent principal payments are required at such time pursuant to Section 2.7(a), shall be applied to the principal installments due on the Advancing Term Loans in the inverse order of maturity.
(ii) Prepayments of Loans under Sections 2.5(b)(i) through (iv) shall be applied to the Outstanding Amount of Advancing Term Loans and, to the extent principal payments of the Advancing Term Loans are required at such time pursuant to Section 2 7(a), shall be applied to the principal installments due on the Advancing Term Loans in the inverse order of maturity. For the avoidance of doubt, the application of any mandatory prepayment to the Outstanding Amount of the Advancing Term Loans made pursuant to this Section 2.5(d)(ii) at any time prior to the Advancing Term Loan Commitment Termination Date shall not result in a corresponding permanent reduction of the Available Advancing Term Loan Commitment.
(iii) All prepayments shall be accompanied by accrued interest to the extent required by Section 2.8.