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, payments made pursuant to any of the provisions of any of the Guarantees or the other Security Documents or from the proceeds of realization of the Security shall be applied in the following order: (a) to amounts due hereunder or under any other Loan Document as costs and expenses of the Administrative Agent; (b) to amounts due hereunder or under any other Loan Document as costs and expenses of the Lenders; (c) to amounts due hereunder or under any other Loan Document as fees; (d) to any other amounts (other than amounts in respect of interest or principal) due hereunder or under any other Loan Document; (e) to amounts due hereunder or under any other Loan Document as interest or pursuant to any Eligible Hedging Agreement (other than in connection with an early termination of any Eligible Hedging Agreement); and (f) to amounts due hereunder or under any other Loan Document as principal or payable in connection with an early termination of any Eligible Hedging Agreement.

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, payments made pursuant to any of the provisions of any of the Guarantees or the other Security Documents or from the proceeds of realization of the Security shall be applied in the following order: (a) to amounts due hereunder or under any other Loan Document as costs and expenses of the Administrative Agent; (b) to amounts due hereunder or under any other Loan Document as costs and expenses of the Lenders; (c) to amounts due hereunder or under any other Loan Document as fees; (d) to any other amounts (other than amounts in respect of interest or principal) principal due hereunder or under any other Loan Document; (e) to amounts due hereunder or under any other Loan Document as interest or pursuant to any Eligible Hedging Agreement (other than in connection with an early termination of any Eligible Hedging Agreement); and (f) to amounts due hereunder or under any other Loan Document as principal or payable in connection with an early termination of any Eligible Hedging Agreement.