Application of Amounts. Without prejudice to the obligations of Funding under this Clause 3, neither the Security Trustee nor any of the Funding Secured Creditors shall be obliged to concern themselves as to the application of amounts raised by Funding under an Intercompany Loan Agreement.
Application of Amounts. Without prejudice to the obligations of Funding 2 under this Clause 4, neither the Funding 2 Security Trustee nor any of the Funding 2 Secured Creditors shall be obliged to concern themselves as to the application of amounts raised by Funding 2 under a Loan Tranche.
Application of Amounts. Amounts shall be applied to each category of Obligations set forth in Section 5.6.2 until Full Payment thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Monies and proceeds obtained from an Obligor shall not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other Obligors to preserve the allocations in any applicable category. Agent shall have no obligation to calculate the amount of any Secured Bank Product Obligation and may request a reasonably detailed calculation thereof from a Secured Bank Product Provider. If the provider fails to deliver such calculation within five Business Days following request by Agent, Agent may assume such amount is zero. The allocations set forth in Section 5.6.2 are solely to determine the rights and priorities of Agent and Lenders as among themselves, and may be changed by agreement among them without the consent of any Obligor.
Application of Amounts. So long as no Event of Default has occurred and is continuing (after giving effect to the application of funds in accordance herewith on the relevant date) and a Turbo Period is not occurring, on each Interest Payment Date, all amounts in the Collection Account and in the Lockbox Account and all amounts (if any) in the Reserve Account in excess of the Reserve Account Funding Requirement as of such day shall be applied by the Paying Agent based on the Monthly Servicing Report as follows:
(i) first, to Company, on a pari passu basis, (A) amounts sufficient for Company to maintain its limited liability company existence and to pay similar expenses up to an amount not to exceed $1,000 in any Fiscal Year, and only to the extent not previously distributed to Company during such Fiscal Year pursuant to clause (xiii) below, and (B) to pay any accrued and unpaid Servicing Fees (provided, however, that the amount of any Successor Servicer Fees payable to a Successor Servicer under this clause (i) shall not exceed $225,000 in any calendar month);
(ii) second, on a pari passu basis, (A) to Company to pay any accrued and unpaid Backup Servicing Fees and any accrued and unpaid fees and expenses of the Custodian and the Controlled Account Bank (in respect of the Controlled Accounts), (B) to Administrative Agent to pay any costs, fees or indemnities then due and owing to Administrative Agent under the Credit Documents, (C) to Collateral Agent to pay any costs, fees or indemnities then due and owing to Collateral Agent under the Credit Documents and (D) to Paying Agent to pay any costs, fees or indemnities then due and owing to Paying Agent under the Credit Documents; provided, however, that (1) the aggregate amount of costs, fees or indemnities payable to Administrative Agent, Collateral Agent and Paying Agent pursuant to this clause (ii) shall not exceed $450,000 in any Fiscal Year, and (2) the aggregate amount of Backup Servicing Fees payable under this clause (ii) shall not exceed $200,000 in any Fiscal Year;
(iii) third, on a pro rata basis, to each Class A Managing Agent, the amount of accrued interest calculated in accordance with Section 2.5(a)(i) on the Class A Revolving Loans owing to its related Class A Revolving Lenders;
(iv) fourth, on a pro rata basis, to Class A Managing Agents in an amount necessary to reduce any Class A Borrowing Base Deficiency to zero;
(v) fifth, on a pro rata basis, to the Class A Managing Agents to pay any Liquidation Fees, costs and o...
Application of Amounts. No Creditor Party is obliged to monitor or verify the application of any amount borrowed under this Agreement.
Application of Amounts. All amounts withdrawn or transferred from any Account by the Company for application in or towards making a specific payment or meeting a specific liability shall be applied in or towards making that payment or meeting that liability, and for no other purpose.
Application of Amounts. The Relevant Obligors shall ensure that all amounts withdrawn or transferred from any Account or sub-account by the Relevant Obligors for application in or towards making a specific payment or meeting a specific liability shall be applied in or towards making that payment or meeting that liability, and for no other purpose.
Application of Amounts. Amounts shall be applied to each category of Obligations set forth in Section 5.6.2 until Full Payment thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied on a pro rata basis among the Obligations in the category. Monies and proceeds obtained from an Obligor shall not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other Obligors to preserve the allocations in any applicable category. The allocations set forth in Section 5.6.2 are solely to determine the rights and priorities of Administrative Agent and Lenders as among themselves, and may be changed by agreement among them without the consent of any Obligor.
Application of Amounts. Without prejudice to the obligations of the Borrower under Clause 3.1, the Agents and the Lenders shall not be obliged to concern themselves with the application of amounts raised by the Borrower hereunder.
Application of Amounts. 9.1 All amounts received or recovered, or applied, by us or any Receiver from the security created under this Agreement will be applied in the manner and order determined by us or the Receiver. In the absence of any determination, those amounts will be applied in the order described in clause 9.2 below. This clause is subject to:
(a) any claims ranking in priority to the security created under this Agreement; and
(b) any mandatory provisions of law.
9.2 Subject to clause 9.3 below, amounts received or recovered by us or any Receiver from the security created under this Agreement will be applied in payment:
(a) first, of all expenses incurred by one or both of us, and any attorney in the exercise, or attempted exercise, of rights under, or otherwise in connection with, any Relevant Document;
(b) secondly, of the Receiver’s remuneration;
(c) thirdly, of all other Secured Money in such order as determined by us;
(d) fourthly, to each holder of a security of which we are aware and which ranks after this Agreement in relation to the Secured Property, to the extent, and in the order, of such priority; and
(e) fifthly, of any surplus to you.
9.3 If any Secured Money is contingently owing or not yet owing at the time any application of money is made, we or any Receiver:
(a) may retain an amount equal to all or part of the amount of such Secured Money;
(b) will place that retained amount in an interest bearing deposit account until such Secured Money becomes actually due and payable or ceases to be contingently owing;
(c) will pay from the amount retained, all amounts which become actually due and payable after that time; and
(d) will apply the balance of the amount retained, together with interest earned whilst on deposit, in accordance with clause 9.2 above.
