Application of Loan Payments Sample Clauses

Application of Loan Payments. Each loan payment will be used; first to pay interest due and payable, and next, to reduce the principal amount.
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Application of Loan Payments. Any payment made on Loans ---------------------------- pursuant to this Section 2.08, Section 2.06, or Sections 2.07(b), (c), (d), ------------ ------------ ---------------- --- --- (e) or (f) shall be applied pro rata to each Bank's Loans in accordance --- --- -------- with such Bank's Facility Percentage (and, in the case of a Bank with both Incremental Loans and Loans that are not Incremental Loans, allocated ratably among such Bank's Incremental Loans and Loans that are not Incremental Loans).
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Application of Loan Payments. The Company shall make all payments, whether repayments of principal or payments of interest, by check or wire transfer as directed by the MEDC. The MEDC shall apply all payments received from the Company first to any late fees, then to accrued interest and then to principal.
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Application of Loan Payments. As long as no Default or Event of Default shall have occurred and be continuing, all payments received by the Administrative Agent shall be paid to the Lenders (i) if in respect of Revolving Loans, pro rata in accordance with the principal amount of the Revolving Loans thereof held by each Lender and (ii) if in respect of fees payable to the Lenders, in accordance with their Ratable Portions. As to all payments made and proceeds of Collateral received when a Default or Event of Default shall have occurred and be continuing or following the Termination Date, the Borrower hereby irrevocably waives the right to direct the application of any and all payments and proceeds received and agrees that the Administrative Agent shall have the continuing exclusive right to apply any and all such payments and proceeds against the Obligations in such order as the Administrative Agent may deem advisable. In the absence of a specific determination by the Administrative Agent with respect thereto (and to the extent not otherwise provided in Section 2.9(c) (Application of Funds During Cash Dominion Period)), all such payments and proceeds of Collateral shall be applied to the Obligations in the following order: first, to pay interest on and then principal of any portion of the Revolving Loans which the Administrative Agent or any of its Affiliates may have advanced on behalf of any Lender for which the Administrative Agent or such Affiliate has not then been reimbursed by such Lender or the Borrower; second, to pay interest on and then principal of any Swing Loan; third, to pay any cash management fee or any Obligation due under any Hedging Contract with any Lender or any of its Affiliates; fourth, to pay Obligations in respect of any expense reimbursements or indemnities then due the Administrative Agent or any of its Affiliates; fifth, to pay Obligations in respect of any expense reimbursements or indemnities then due to the Lenders and the Issuers; sixth, to pay Obligation in respect of any fees then due to the Administrative Agent or any of its Affiliates, the Lenders and the Issuers; seventh, to pay interest then due and payable in respect of the Loans and Reimbursement Obligations; eighth, to pay or prepay principal payments on the other Loans and to provide cash collateral for outstanding Letter of Credit Obligations in the manner described in Section 9.3 (Cash Collateralization of Letters of Credit), ratably to the aggregate principal amount of such other Loans and L...
Sample 1
Application of Loan Payments. Without limiting any other provision of this Guaranty, Guarantor acknowledges and agrees that, to the extent Lender receives any amounts owed under any Loan Documents including, without limitation, any voluntary payments or prepayments by Borrower of principal and interest, insurance or condemnation proceeds, or proceeds from the sale at foreclosure of any collateral given to secure the Loan, then, to the extent not prohibited by applicable law, such amounts need not be applied to or credited against the Guaranteed Obligations, but instead, may be applied by Lender to any portions of the Debt in such order and priority as Lender shall determine in its sole discretion.
Sample 1
Application of Loan Payments. All amounts from time to time received by Lender under this Agreement and the Note shall be applied: first, to any unpaid out-of-pocket costs or expenses of Lender incurred in connection with or arising out of (i) any request by the Borrower to amend, confirm or consent to any matter with regard to, or to otherwise take any action with respect to, the Transaction Documents, the Portfolio Documents, the Financed Vehicles or any other Collateral, (ii) any action taken by Lender that it is expressly authorized to take under any Transaction Document, or any Portfolio Document (either directly or as assignee thereof), and (iii) the failure of the Borrower to comply with Section 6.8 hereof; second, to unpaid late charges payable pursuant to the Note; third, to any interest then due and payable on the Note; fourth, to principal in accordance with the Note; and fifth, to any other Obligations then due and payable.
Sample 1
Application of Loan Payments 
Sample 1
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Related to Application of Loan Payments

  • Termination of Loans In addition to BTC’s authority to terminate a loan of Securities pursuant to the terms of the applicable Securities Lending Agreement as described in Section 2.4 above, BTC shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Lending Agreement promptly:

  • Application of Prepayments Prior to any optional or mandatory prepayment hereunder, the Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(i), subject to the provisions of this Section 2.10(h). Any prepayments of Term Loans pursuant to Section 2.10(a) shall be applied as directed by the Borrower. Any prepayments pursuant to Section 2.10(c), (d), (e) and (f), shall be applied pro rata amongst each Tranche of outstanding Term Loans and, within each Tranche, first, to accrued interest and fees with respect to Term Loans being prepaid and second, to reduce the remaining principal amount of the Term Loan (or any equivalent provision applicable to any Tranche of Term Loans extended hereunder after the Closing Date), in direct order of maturity). After application of mandatory prepayments of Term Loans described above in this Section 2.10(h) and to the extent there are mandatory prepayment amounts remaining after such application, such amounts shall be applied, first, to ratably reduce outstanding Revolving Loans in an aggregate amount equal to such excess (without a corresponding reduction of the Revolving Commitments) and, second, to ratably cash collateralize any outstanding Letters of Credit in an aggregate amount equal to such excess (without a corresponding reduction of the Revolving Commitments), and the Borrower shall comply with Section 2.10(b). Amounts to be applied pursuant to Section 2.10(h) to the prepayment of Term Loans or Revolving Loans shall be applied, as applicable, first to reduce outstanding ABR Loans. Any amounts remaining after each such application shall be applied to prepay Eurodollar Loans, as applicable. Notwithstanding the foregoing, if the amount of any prepayment of Loans required under this Section 2.10 shall be in excess of the amount of the ABR Loans at the time outstanding (an “Excess Amount”), if the Borrower has given notice to the Lenders of such prepayment and the Lenders have indicated to the Borrower that breakage payments shall be required under Section 2.13 in respect of such Excess Amount, only the portion of the amount of such prepayment as is equal to the amount of such outstanding ABR Loans shall be immediately prepaid and the Excess Amount shall be either, at the election of the Borrower, (A) deposited in an escrow account (which account shall be subject to a Control Agreement reasonably satisfactory to the Administrative Agent) and applied to the prepayment of Eurodollar Loans on the last day of the then next-expiring Interest Period for Eurodollar Loans; provided that (i) interest in respect of such Excess Amount shall continue to accrue thereon at the rate provided hereunder for the Loans which such Excess Amount is intended to repay until such Excess Amount shall have been used in full to repay such Loans and (ii) at any time while an Event of Default has occurred and is continuing, the Administrative Agent may, and upon written direction from the Required Lenders shall, apply any or all proceeds then on deposit to the payment of such Loans in an amount equal to such Excess Amount or (B) prepaid immediately, together with any amounts owing to the Lenders under Section 2.13. Notwithstanding anything herein to the contrary, with respect to any prepayment under Section 2.10(c), (e) or (f), the Borrower may use a portion of the Net Cash Proceeds to prepay or repurchase Permitted Pari Passu Refinancing Debt and any other senior Indebtedness in each case secured by the Collateral on a pari passu basis with the Liens securing the Obligations (the “Applicable Other Indebtedness”) to the extent required pursuant to the terms of the documentation governing such Applicable Other Indebtedness, in which case, the amount of the prepayment required to be offered with respect to such Net Cash Proceeds pursuant to Section 2.10(c), (e) or (f) shall be deemed to be the amount equal to the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator of which is the outstanding principal amount of Term Loans required to be prepaid pursuant to Section 2.10(c), (e) or (f) and the denominator of which is the sum of the outstanding principal amount of such Applicable Other Indebtedness and the outstanding principal amount of Term Loans required to be prepaid pursuant to Section 2.10(c), (e) or (f).

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.10(a) shall be applied as specified by the Borrower in the applicable notice of prepayment.

  • Application of Mandatory Prepayments by Type of Loans Except as provided in subsection 2.4D, any amount required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Revolving Loan Commitment Amount pursuant to subsections 2.4B(iii)(a)-(f) shall be applied first to prepay the Term Loans to the full extent thereof, second, to the extent of any remaining portion of such amount, to prepay the Swing Line Loans to the full extent thereof and to permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, third, to the extent of any remaining portion of such amount, to prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, fourth, to the extent of any remaining portion of such amount, to further permanently reduce the Revolving Loan Commitment Amount to the full extent thereof and fifth, to the extent of any remaining portion of such amount, to cash collateralize any outstanding Letters of Credit. Any mandatory reduction of the Revolving Loan Commitment Amount pursuant to this subsection 2.4B shall be in proportion to each Revolving Lender’s Pro Rata Share.

  • Acceleration of Loans Declare the unpaid principal of and any accrued interest in respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by a Credit Party to any of the Lenders hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties.

  • Application of Prepayments Reductions (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • Application of Certain Mandatory Prepayments Any prepayments made by Borrower pursuant to Section 1.3(b)(iii) above, and any prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c), shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan; third, to the principal balance of the Swing Line Loan until the same has been repaid in full; fourth, to interest then due and payable on Revolving Credit Advances; fifth, to the principal balance of Revolving Credit Advances until the same has been paid in full; and sixth, to any Letter of Credit Obligations of Borrower to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B. Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments. Any prepayments made by Borrower pursuant to Section 1.3(b)(iv) above shall be applied to the principal balance of outstanding Revolving Credit Advances and as a concurrent and permanent reduction of the Revolving Loan Commitment, pro rata among all Lenders.

  • Application of prepayment The provisions of Clause 8 shall apply in relation to the prepayment.

  • Acceleration of Loan On the service of a notice under paragraph (a)(ii) of Clause 19.2, the Loan, all accrued interest and all other amounts accrued or owing from the Borrower or any Security Party under this Agreement and every other Finance Document shall become immediately due and payable or, as the case may be, payable on demand.

  • Application of Mandatory Prepayments All amounts required to be paid pursuant to this Section 2.05(b) shall be applied as follows:

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