Common use of Application of Liquidity Facility Drawings Clause in Contracts

Application of Liquidity Facility Drawings. The proceeds of any Liquidity Facility Drawing shall be deposited into the Liquidity Payment Account and withdrawn by the Operating Bank, upon receipt of Written Notice from the Administrative Agent, for application on the applicable Payment Date in the following manner: first, in no order of priority inter se, but pro rata, (1) to the Expense Account, an amount such that the amount on deposit therein is at least equal to the Required Expense Amount for such Payment Date and (2) to the Maintenance Reserve Account, an amount equal to the Permitted Maintenance Reimbursement Expenditure Accrual for such Payment Date and second, in no order of priority inter se, but pro rata, (1) to the Loans Accounts for the ACS Group Loans, the amount of accrued and unpaid interest on the ACS Group Loans with respect to the applicable Payment Date in no order of priority inter se, but pro rata; and (2) pro rata, to any Hedge Provider, an amount equal to any Senior Hedge Payment due from any ACS Group Member pursuant to any Hedge Agreement.