Common use of Application and Allocation of Payments Clause in Contracts

Application and Allocation of Payments. So long as no Event of Default has occurred and is continuing, (i) payments of regularly scheduled payments then due shall be applied to those scheduled payments, (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.3(a), and (iii) mandatory prepayments shall be applied as set forth in Sections 2.3(d). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to all payments made when an Event of Default has occurred and is continuing, Borrower hereby irrevocably waives the right to direct the application of any and all payments received from a Credit Party. All voluntary prepayments shall be applied as directed by Borrower in accordance with the provisions of Section 2.3(a). In all circumstances after an Event of Default, all payments and all proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Fees and Agent’s expenses reimbursable hereunder; (2) to interest on the Loans, ratably in proportion to the interest accrued as to each Loan; and (3) to all other Obligations hereunder on a ratable basis, including expenses of Lenders to the extent reimbursable under Section 12.3.

Application and Allocation of Payments. (a) So long as no Event of Default has occurred and is continuing, (i) payments of regularly scheduled payments then due shall be applied to those scheduled payments, (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.3(a1.3(a), ; and (iiiii) mandatory prepayments shall be applied as set forth in Sections 2.3(d1.3(c) and 1.3(d). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Shareapplicable Commitment. As to any other payment, and as to all payments made when an Event of Default has occurred and is continuingcontinuing or following the Commitment Termination Date, Borrower Borrowers hereby irrevocably waives waive the right to direct the application of any and all payments received from or on behalf of a Credit Party. All voluntary prepayments Borrower, and Borrowers hereby irrevocably agree that Requisite Lenders shall be applied have the continuing exclusive right to apply any and all such payments against the Obligations as directed Requisite Lenders may deem advisable notwithstanding any previous entry by Borrower Agent in accordance with the provisions of Section 2.3(a)Loan Account or any other books and records. In all circumstances the absence of a specific determination by Requisite Lenders with respect thereto and after an Event acceleration or maturity of Defaultthe Obligations, all payments and all proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Agent's expenses and to Fees and Agent’s expenses reimbursable hereunder; (2) to interest on the Loans, ratably in proportion to the interest accrued as to each Loan; (3) to principal of the Loans and (34) to all other Obligations hereunder on a ratable basis, including expenses of Lenders to the extent reimbursable under Section 12.311.3.

Application and Allocation of Payments. So long as no Event of Default has occurred and is continuing, (i) payments of regularly scheduled payments then due shall be applied to those scheduled payments, (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.3(a), and (iii) mandatory prepayments shall be applied as set forth in Sections 2.3(d2.3(c). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to all payments made when an Event of Default has occurred and is continuingcontinuing or following the Senior Conversion Date, Borrower hereby irrevocably waives the right to direct the application of any and all payments received from a Credit Party. All voluntary prepayments shall be applied as directed by Borrower in accordance with the provisions of Section 2.3(a)Borrower. In all circumstances after an Event of Default, all payments and all proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Fees and Agent’s expenses reimbursable hereunderhereunder and to all obligations owing to Agent or any other Lender by any Non-Funding Lender under the Loan Documents; (2) to interest on the Loans, ratably in proportion to the interest accrued as to each Loan; (3) to principal payments on the Loans, ratably in proportion to the principal balance of each Loan; and (34) to all other Obligations hereunder on a ratable basishereunder, including expenses of Lenders to the extent reimbursable under Section 12.3.

Application and Allocation of Payments. So long as no Event of Default has occurred and is continuing, (i) payments of regularly scheduled payments then due shall be applied to those scheduled payments, (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.3(a), and (iii) mandatory prepayments shall be applied as set forth in Sections 2.3(d). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to all payments made when an Event of Default has occurred and is continuing, Borrower hereby irrevocably waives the right to direct the application of any and all payments received from a Credit Party. All voluntary prepayments shall be applied as directed by Borrower in accordance with the provisions of Section 2.3(a)Borrower. In all circumstances after an Event of Default, all payments and all proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Fees and Agent’s expenses reimbursable hereunder; (2) to interest on the Loans, ratably in proportion to the interest accrued as to each Loan; and (3) to all other Obligations hereunder on a ratable basis, including expenses of Lenders to the extent reimbursable under Section 12.3.