Application and Timing Clause Samples
Application and Timing a) This section applies to the renewal of initial contracts held by College Members at the rank of Assistant Professor, Teaching Stream.
b) Notice that a contract will not be renewed on the following July 1 must be given in writing no later than January 15.
c) Notwithstanding the timeline otherwise provided in this Article, at the request of the Member and with the approval of the President, consideration for renewal may be delayed for one (1) year but no more than two (2) years for professional or personal reasons. Such requests shall not be unreasonably denied.
Application and Timing. Prepayments of Loans made pursuant to Section 1.05(b) shall be applied first to prepay Base Rate Loans and then to prepay Eurodollar Rate Loans in the order that the Interest Periods for such Loans end. Amounts to be so prepaid shall be paid on the date specified therefor, whether or not such payment would require a prepayment of any Eurodollar Rate Loans prior to the last day of the applicable Interest Periods therefor or would result in losses, costs or expenses compensable under Section 7.04.
Application and Timing. (i) Amounts prepaid pursuant to Sections 1.06(b)(i)(A), (B), (C)(2), (C)(3) and 1.06(b)(iv) shall be applied to prepay (A) the RC A Loans, (B) to the extent that the amount of any such prepayment exceeds the amount of the corresponding mandatory reduction of the RC A Commitments required to be made in connection with such prepayment pursuant to Section 1.08(b)(ii) (the "A Commitment Reduction"), the Term A Loans, (C) to the extent that the amount of any such prepayment exceeds the sum of the A Commitment Reduction and the then outstanding aggregate principal amount of the Term A Loans, the Term B Loans, (D) to the extent that the amount of any such prepayment exceeds the sum of the A Commitment Reduction and the then outstanding aggregate principal amount of the Term A Loans and the Term B Loans, the RC B Loans and (E) to the extent that the amount of such prepayment exceeds the sum of the A Commitment Reduction and the then outstanding aggregate principal amount of the Term A Loans, the Term B Loans and the RC B Loans, the Swing Loans and, to the extent of any remaining amount in excess thereof, the Contingent Reimbursement Obligations.
(ii) Prepayments of the Term A Loans or the Term B Loans (A) pursuant to Section 1.06(a) or 1.06(b)(iv) (or deemed to have been made pursuant to Section 1.04(d)) shall be applied to installments of the Term A Loans or the Term B Loans, as the case may be, in the inverse order of their maturities and (B) pursuant to Section 1.06(b)(i) shall be applied to each of the remaining installments of the Term A Loans or the Term B Loans, as the case may be, pro rata in accordance with the relative amounts thereof. Prepayments of Loans made pursuant to Section 1.06(b) shall, unless the Borrower shall have given a notice setting forth the Eurodollar Rate Loans to be prepaid by no later than 11:00 a.m. (New York time) on the third Eurodollar Business Day before the date of such prepayment, be applied first to prepay Base Rate Loans and then to prepay Eurodollar Rate Loans in the order that the Interest Periods for such Loans end. Amounts to be so prepaid shall be paid on the date specified therefor, whether or not such payment would require a prepayment of any Eurodollar Rate Loans prior to the last day of the applicable Interest Periods therefor or would result in losses, costs or expenses compensable under Section 7.03. Any prepayment -16- 23 of the Contingent Reimbursement Obligations shall be held as cash collateral in accordance w...