Common use of Application of Payments after an Event of Default Clause in Contracts

Application of Payments after an Event of Default. If any Event of Default shall occur and be continuing all payments made by the Borrower hereunder or payments made pursuant to any of the provisions of any of the Guarantees, shall be applied in the following order: (a) to amounts due hereunder as costs and expenses of the Agent; (b) to amounts due hereunder as costs and expenses of the Lenders; (c) to amounts due hereunder as fees; (d) to amounts due hereunder as interest; (e) rateably to amounts due hereunder as principal and amounts due in respect of any Other Secured Obligations with the Lenders or any of their Affiliates; and (f) any balance to the Borrower or as a court of competent jurisdiction shall determine.

Application of Payments after an Event of Default. If any Event of Default shall occur and be continuing all payments made by the Borrower Borrowers hereunder or payments made pursuant to any of the provisions of any of the Guarantees, Guarantees shall be applied in the following order: (a) to amounts due hereunder as costs and expenses of the Agent; (b) to amounts due hereunder as costs and expenses of the Lenders; (c) to amounts due hereunder as fees; (d) to amounts due hereunder as interest; (e) rateably to amounts due hereunder as principal and amounts due in respect of any Other Secured Obligations with the Lenders or any of their Affiliates; and (f) any balance to the Borrower Borrowers or as a court of competent jurisdiction shall determine.

Application of Payments after an Event of Default. If any Event of Default shall occur and be continuing all payments made by the Borrower Borrowers hereunder or payments made pursuant to any of the provisions of any of the Guarantees, Guarantees shall be applied in the following order: (a) to amounts due hereunder as costs and expenses of the Agent; (b) to amounts due hereunder as costs and expenses of the Lenders; (c) to amounts due hereunder as fees; (d) to amounts due hereunder as interest; (e) rateably to amounts due hereunder as principal and amounts due in respect of any Other Secured Obligations with the Lenders or any of their Affiliates; and (f) any balance to the Borrower Borrowers or as a court of competent jurisdiction shall determine.” (q) The Schedules to the Credit Agreement are amended by adding to such Schedules the Schedules attached hereto in the correct order.

Application of Payments after an Event of Default. If any Event of Default shall occur and be continuing all payments made by the Borrower hereunder or payments made pursuant to any of the provisions of any of the Guarantees, Guarantees shall be applied in the following order: (a) to amounts due hereunder as costs and expenses of the Agent; (b) to amounts due hereunder as costs and expenses of the Lenders; (c) to amounts due hereunder as fees; (d) to amounts due hereunder as interest; (e) rateably to amounts due hereunder as principal and amounts due in respect of any Other Secured Obligations with the Lenders or any of their Affiliates; and (f) any balance to the Borrower or as a court of competent jurisdiction shall determine.