Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:
(A) first, to pay any Lender Expenses then due to Lender under the Loan Documents, until paid in full,
(B) second, to pay any fees then due to Lender under the Loan Documents, until paid in full,
(C) third, ratably to pay interest due in respect of the Advances and the Term Loan until paid in full,
(D) fourth, ratably to pay all principal amounts then due and payable (other than as a result of an acceleration thereof) with respect to the Term Loan until paid in full,
(E) fifth, to pay the principal of all Advances until paid in full,
(F) sixth, if an Event of Default has occurred and is continuing, to pay the outstanding principal balance of the Term Loan (in the inverse order of the maturity of the installments due thereunder) until the Term Loan is paid in full,
(G) seventh, to pay any other Obligations until paid in full, and
(H) eighth, to Borrower (to be wired to the Designated Account) or such other Person entitled thereto under applicable law.
(i) In each instance, so long as no Default or Event of Default has occurred and is continuing, Section 2.4(b) shall not be deemed to apply to any payment by Borrower specified by Borrower to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement.
(ii) For purposes of the foregoing, "paid in full" means payment of all amounts owing under the Loan Documents according to the terms thereof, including loan fees, service fees, professional fees, interest (and specifically including interest accrued after the commencement of any Insolvency Proceeding), default interest, interest on interest, and expense reimbursements, whether or not the same would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding.
(iii) In the event of a direct conflict between the priority provisions of this Section 2.4 and other provisions contained in any other Loan Document, it is the intention of the parties hereto that such priority provisions in such documents shall be read together and construed, to the fullest extent possible, to be in concert with each other. I...
Application and Reversal of Payments. The Lender shall determine in its sole discretion the order and manner in which Proceeds of Collateral and other payments that the Lender receives are applied to the Revolving Loans, interest thereon, and the other Obligations, and the Borrower hereby irrevocably waives the right to direct the application of any payment or Proceeds. The Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all such Proceeds and payments to any portion of the Obligations.
Application and Reversal of Payments. All such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Collateral received by Lender, shall be applied, subject to the provisions of this Agreement, FIRST, to pay any fees, indemnities or expense reimbursements then due to Lender; SECOND, to pay interest due in respect of all Loans; and THIRD, to pay or prepay principal of the Loans. Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.
Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:
A. first, to pay any Lender Expenses then due to Lender under the Loan Documents, until paid in full, B. second, to pay any fees then due to Lender under the Loan Documents until paid in full,
Application and Reversal of Payments. Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all Proceeds of Collateral and payments that Lender receives to any portion of the Obligations.
Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:
A. first, to pay any Lender Expenses then due to Lender under the Loan Documents, until paid in full,
B. second, to pay any fees then due to Lender under the Loan Documents until paid in full,
C. third, ratably to pay interest due in respect of the Advances until paid in full,
D. fourth, to pay the principal of all Advances until paid in full,
E. fifth, if an Event of Default has occurred and is continuing, to be held by Lender as cash collateral in an amount up to 105% of the then extant Letter of Credit Usage until paid in full, F. sixth, to pay any other Obligations until paid in full, and
Application and Reversal of Payments. 6 Application and -------------------------------------- --------------- Reversal of Payments". The Lender shall determine in its sole discretion the --------------------- order and manner in which Proceeds of Collateral and other payments that the Lender receives are applied to the Revolving Loans, interest thereon, and the other Obligations, and the Borrowers hereby irrevocably waive the right to direct the application of any payment or Proceeds. The Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all such Proceeds and payments to any portion of the Obligations.
Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:
A. first, to pay any Lender Expenses then due to Lender under the Subsidiary Loan Documents, until paid in full,
B. second, to pay any fees then due to Lender under the Subsidiary Loan Documents until paid in full,
C. third, ratably to pay interest due in respect of Subsidiary Borrower Advances until paid in full,
D. fourth, to pay the principal of all Subsidiary Borrower Advances until paid in full,
E. fifth, if an Event of Default has occurred and is continuing, to be held by Lender as cash collateral in an amount up to 105% of the then extant Letter of Credit Usage until paid in full, F. sixth, to pay any other Obligations until paid in full, and
Application and Reversal of Payments. 25 4.7 INDEMNITY FOR RETURNED PAYMENTS....................... 25
Application and Reversal of Payments. During the continuation of an Event of Default, the Lender may determine in its sole discretion the order and manner in which Proceeds of Collateral and other payments that the Lender receives are applied to the Revolving Loans, interest thereon, and the other Obligations, and the Borrower hereby irrevocably waives the right to direct the application of any payment or Proceeds. During the continuation of an Event of Default, the Lender shall have the continuing and exclusive right to apply and reverse and reapply any and all such Proceeds and payments to any portion of the Obligations.
