Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Samples: Credit Agreement (Playcore Inc), Credit Agreement (Per Se Technologies Inc), Credit Agreement (American Coin Merchandising Inc)
Application and Allocation of Payments. (a1) So long as no Default or Event of Default shall have occurred and be continuing, (ia) payments consisting of proceeds of Accounts received in the ordinary course of business shall be applied to the Revolving Loan; (b) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (iiiii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a1.3(1); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(cSection 1.3(3) and or 1.3
Appears in 2 contracts
Samples: Credit Agreement (Solo Cup CO), Credit Agreement (Sweetheart Holdings Inc \De\)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due consisting of proceeds of Accounts received in the ordinary course of business shall be applied to those scheduled paymentsto, the Revolving Loan; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to in accordance with the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
Appears in 2 contracts
Samples: Credit Agreement (Standard Motor Products Inc), Credit Agreement (Standard Motor Products Inc)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); and (iiiii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 1.
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to in accordance with the provisions of Section 1.3(a); and (iiiii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments consisting of proceeds of Accounts received in the ordinary course of business shall be applied to the Revolving Loan; (ii) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (iiiii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iiiiv) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 1.
Appears in 1 contract
Samples: Credit Agreement (Key Tronic Corp)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments consisting of proceeds of Accounts received in the ordinary course of business shall be applied to the Revolving Loan; (ii) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (iiiii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(aSECTION 1.3(A); and (iiiiv) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and SECTIONS 1.3
Appears in 1 contract
Samples: Credit Agreement (Tefron LTD)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrowers, subject to the provisions of Section SECTION 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections SECTIONS 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, : (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section SECTION 1.3(a); and (iiiii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and SECTION 1.3
Appears in 1 contract
Samples: Debtor in Possession Credit Agreement (Boston Chicken Inc)
Application and Allocation of Payments. (a) So long as no Default -------------------------------------- or Event of Default shall have has occurred and be is continuing, (i) payments consisting of proceeds of Accounts received in the ordinary course of business shall be applied to the Revolving Loan; (ii) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 1.
Appears in 1 contract
Samples: Credit Agreement (American Eco Corp)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a1.2(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 1.
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
Appears in 1 contract
Samples: Credit Agreement (American Lawyer Media Holdings Inc)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of set forth in Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
Appears in 1 contract
Samples: Second Lien Credit Agreement (Black Warrior Wireline Corp)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section
Appears in 1 contract
Samples: Credit Agreement (Radiologix Inc)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions of Section 1.3(a); and (iiiii) mandatory prepayments shall be applied as set forth in Sections Section 1.3(c) ). All payments and 1.3prepayments applied to the Loans shall be applied ratably to the portion thereof held by each applicable Lender as determined by its Pro
Appears in 1 contract
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific of regularly scheduled payments then due shall be applied to those scheduled payments; , (ii) voluntary prepayments shall be applied as determined by Borrower, subject to in accordance with the provisions of Section 1.3(a2.3(a); , and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3SectionsSection
Appears in 1 contract
Samples: Revolving Loan Credit Agreement (XPO Logistics, Inc.)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due and payable shall be applied to those scheduled such payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to in accordance with the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and Section 1.3
Appears in 1 contract
Samples: Debtor in Possession Credit Agreement (Mirant Corp)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); and (iiiii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
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Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have has occurred and be is continuing, (i) payments matching specific scheduled payments then due received in the ordinary course of business shall be applied to those scheduled paymentsthe Revolving Loan; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3
Appears in 1 contract
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerCo-Borrowers, subject to the provisions of Section 1.3(a1.5(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c1.5(c) and 1.3
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Application and Allocation of Payments. (a) (i) So long as no Default or Event of Default shall have occurred and be continuing, : (iA) payments matching of specific scheduled payments then due shall be applied to those scheduled payments; (iiB) voluntary prepayments shall be applied as determined by Borrower, the Borrower subject to the provisions of Section 1.3(a)2.12; and (iiiC) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 2.13.
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Application and Allocation of Payments. (a) So long as no Default or Event of -------------------------------------- Default shall have occurred and be continuing, continuing (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by BorrowerBorrower Representative, subject to the provisions of Section 1.3(a); ) and (iiiii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3--------------
Appears in 1 contract
Samples: Post Petition Loan and Guaranty Agreement (Montgomery Ward Holding Corp)
Application and Allocation of Payments. (a) So long as no Default or Event of Default shall have occurred and be continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied as determined by Borrower, subject to the provisions last sentence of Section 1.3(a); and (iii) mandatory prepayments shall be applied as set forth in Sections 1.3(c) and 1.3Section 1.
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