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 Borrowers 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 Administrative Agent; (b) to amounts due hereunder as costs and expenses of the Lenders; (c) to amounts due hereunder as fees; (d) to any other amounts (other than amounts in respect of interest or principal) due hereunder; (e) to amounts due hereunder as interest; and (f) to amounts due hereunder as principal.

Application of Payments after an Event of Default. If any Event of Default shall occur and be continuing, all payments made by the Borrowers 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 Administrative AgentAgents; (b) to amounts due hereunder as costs and expenses of the Relevant Lenders; (c) to amounts due hereunder as fees; (d) to any other amounts (other than amounts in respect of interest or principal) due hereunder; (e) to amounts due hereunder as interest; and (f) to amounts due hereunder as principal.