Application of Payments and Prepayments. (1) All amounts received by the Administrative Agent from or on behalf of a Borrower and not previously applied pursuant to this Agreement shall be applied by the Administrative Agent as follows (i) first, in reduction of such Borrower’s obligation to pay any unpaid interest and any Fees which are due and owing; (ii) second, in reduction of such Borrower’s obligation to pay any claims or losses referred to in Section 15.01; (iii) third, in reduction of such Borrower’s obligation to pay any amounts due and owing on account of any unpaid principal amount of Advances and Obligations arising under Eligible Cash Management Agreements and Eligible Hedging Agreements, in each case, which are due and owing; provided that notwithstanding the foregoing, Obligations arising under Eligible Cash Management Agreements and Eligible Hedging Agreements shall be excluded from any such application if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Lender, as the case may be; (iv) fourth, in reduction of such Borrower’s obligation to pay any other unpaid Accommodations Outstanding which are due and owing; (v) fifth, in reduction of any other obligation of such Borrower under this Agreement and the other Credit Documents; and (vi) sixth, to Cash Collateralize the then Accommodations Outstanding in respect of all Documentary Credits made to such Borrower; and (vii) seventh, to such Borrower or such other Persons as may lawfully be entitled to or directed by such Borrower to receive the remainder.
Application of Payments and Prepayments. (1) Subject to Section 10.03, all amounts received by the Agent from or on behalf of the Borrower and not previously applied pursuant to this Agreement shall be applied by the Agent as follows (i) first, in reduction of the Borrowers’ obligations to pay any unpaid expenses of the Agent; (ii) second, in reduction of the Borrowers’ obligations to pay any unpaid interest and any Fees which are due and owing; (iii) third, in reduction of the Borrowers’ obligations to pay any claims or losses referred to in Section 17.01; (iv) fourth, in reduction of the Borrowers’ obligations to pay any amounts due and owing on account of any unpaid principal amount of Advances which are due and owing; (v) fifth, in reduction of the Borrowers’ obligations to pay any other unpaid Accommodations Outstanding which are due and owing; (vi) sixth, in reduction of any other obligation of the Borrowers under this Agreement and the other Loan Documents; and (vii) seventh, to the Borrowers or such other Persons as may lawfully be entitled to or directed to receive the remainder.
Application of Payments and Prepayments. Prepayments of the Loans shall be applied first to the principal amount thereof, with the balance to accrued interest. Regularly scheduled payments of the Loans shall be applied first to accrued interest, the balance to the principal. If the Agent receives funds on a date when payments of the Loans are due and such funds are not sufficient to pay all of the obligations of the Company hereunder then due, or if the Agent receives any payments or other amounts owing to Agent or any Lender under any Loan Document, including without limitation, proceeds obtained from the enforcement of the Guaranties, then such funds shall be applied (a) first, to fees or expenses of the Agent then due hereunder or any other Loan Document which are to be paid by the Company or the applicable Guarantor, (b) second, to fees or expenses of the Lenders then due hereunder or any other Loan Document (other than fees or expenses owing under Credit Facility Hedging Agreements) which are to be paid by the Company or the applicable Guarantor, including without limitation, Commitment Fees to the extent then due, (c) third, to the accrued interest on and, to the extent then due, principal of the Loans and any Letter of Credit Advances then outstanding, and (d) fourth, to amounts owing under Credit Facility Hedge Agreements. Each payment received by the Agent hereunder or under any Note for the account of a Lender shall be paid promptly to such Lender, in immediately available funds. If the Agent fails to send to any Lender the product of such Lender's Current Sum Percentage times the aggregate amount of any such payment timely received by the Agent for the account of all the Lenders by the close of business on the Business Day following the date such payment was received by the Agent, the Agent shall pay to such Lender interest on such Lender's pro-rata portion of such payment timely received by the Agent from such date of receipt by the Agent to the date that such Lender receives its pro-rata portion of such payment, such interest to accrue at the Federal Funds Rate and to be payable upon written request from such Lender.
Application of Payments and Prepayments. (a) Prepayments on the Term Loans, including without limitation, prepayments in accordance with Sections 2.3(a) hereof, shall be applied to payment of the aggregate unpaid principal amounts of the Term Notes in inverse order of maturity, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each Term Note in accordance with Section 2.4(c) hereof shall be applied to the aggregate accrued interest then outstanding under the Term Notes. Payments of regularly scheduled installments of principal on each Term Note in accordance with Section 2.4(b) hereof shall be applied to the aggregate principal amount outstanding under the Term Notes in direct order of maturity, while payment by the Borrower of the aggregate principal amount outstanding under the Term Notes on the Term Loan Maturity Date shall be applied to principal.
Application of Payments and Prepayments. (1) Each prepayment pursuant to Section 2.05(1), Section 2.05(2), Section 2.05(3), or Section 2.06 shall be applied ratably to the repayments pursuant to Section 2.04.
Application of Payments and Prepayments. 26 Section 2.13 Method and Place of Payment........................................................... 26 Section 2.14 Fees.................................................................................. 27 Section 2.15 Interest Rate Unascertainable Increased Costs, Illegality............................. 28 Section 2.16
Application of Payments and Prepayments. (1) All optional prepayments under the Credit Facility pursuant to Section 2.5 shall be applied by the Administrative Agent to the Aggregate Principal Amount and the other outstanding Obligations.
Application of Payments and Prepayments. (1) Subject to paragraph (2) hereof, each prepayment pursuant to Section 2.05 and Section 2.06 in respect of Term Facility B shall be applied to the instalments pursuant to Section 2.04 in the inverse order of their maturity, subject to paying the applicable breakage costs (as contemplated by Section 12.06) if any Libor Advance is prepaid.
Application of Payments and Prepayments. Prepayments on the Notes --------------------------------------- shall be applied first to principal, the balance to accrued interest. Regular payments on each Note shall be applied first to accrued interest, the balance to the principal. If the Agent receives funds on a date when payments are due under the Notes and such funds are not sufficient to pay all of the obligations of the Company hereunder then due, then such funds shall be applied (a) first to the accrued interest on and, to the extent then due, principal of the Notes then outstanding, and (b) then to the unpaid expenses of the Agent and the Banks which are to be paid by the Company. Each payment received by the Agent hereunder or under any Note for the account of a Bank shall be paid promptly to such Bank, in immediately available funds. If the Agent fails to send to any Bank the product of such Bank's Commitment Percentage times the aggregate amount of any such payment timely received by the Agent for the account of all the Banks by the close of business on the date such payment was received by the Agent, the Agent shall pay to such Bank interest on such Bank's pro-rata portion of such payment timely received by the Agent from such date of receipt by the Agent to the date that such Bank receives its pro-rata portion of such payment, such interest to accrue at the Federal Funds Rate and to be payable upon written request from such Bank.
Application of Payments and Prepayments. 37 Section 2.10 Computations of Interest and Fees..............................................37 Section 2.11
