Application of Collected Funds. (a) For purposes of determining the amount of Loans available for borrowing purposes, the balance in the Blocked Account as of the end of a Business Day, shall, without duplication, be applied against the Obligations at the beginning of the next Business Day in such order as Lender shall determine in its sole discretion. (b) For purposes of calculating interest and fees, Lender shall apply all collected and available funds one (1) Business Day after application of the proceeds set forth in Section 6.03(a).
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Samples: Credit and Security Agreement (Mendocino Brewing Co Inc), Credit and Security Agreement (Clark Holdings Inc.)
Application of Collected Funds. (a) For purposes of determining the amount of Revolving Loans available for borrowing purposes, the balance in the Blocked Cash Collateral Account as of the end of a Business Day, shall, without duplication, be applied against the Obligations at the beginning of the next Business Day in such order as Lender shall determine in its sole discretion.
(b) . For purposes of calculating interest and fees, Lender shall apply all collected and available funds one (1) Business Day after application of the proceeds set forth in Section 6.03(a).
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Application of Collected Funds. (a) For purposes of determining the amount of Loans available for borrowing purposes, the balance in the Blocked Account as of the end of a Business Day, shall, without duplication, be applied against the Obligations at the beginning of the next Business Day in against the Revolving Loans or the other Obligations to the extent required to be applied to such order as Lender shall determine in its sole discretion.
(b) For purposes of calculating interest and fees, Lender shall apply all collected and available funds one (1) Business Day after application of the proceeds set forth in Section 6.03(aObligations under this Agreement).
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