Common use of Application of Payments and Prepayments Clause in Contracts

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), (b) and (d) --------------- --- --- hereof, prepayments on the Notes shall be applied to payment of the aggregate unpaid principal amounts of the Notes, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each Note in accordance with Section 2.6(c) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the Notes, while payment by the Borrower of the aggregate principal amount outstanding under the Notes on the Termination Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent hereunder or pursuant to the Notes for its own account or the account of the Banks shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent after 11:00 a.m. shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), (b) and (d) --------------- --- --- hereof, prepayments on the Notes Note shall be applied to payment of the aggregate unpaid principal amounts of the NotesNote, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each the Note in accordance with Section 2.6(c) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the NotesNote, while payment by the Borrower of the aggregate principal amount outstanding under the Notes Note on the Termination Maturity Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent Lender hereunder or pursuant to the Notes for its own account or the account of the Banks Note shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. 1:00 p.m. on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent Lender after 11:00 a.m. 1:00 p.m. shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), ) and (b) and (d) --------------- --- --- hereof, prepayments on the Notes Revolving Note shall be applied to payment of the aggregate unpaid principal amounts of the NotesRevolving Note, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each the Revolving Note in accordance with Section 2.6(c) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the NotesRevolving Note, while payment by the Borrower of the aggregate principal amount outstanding under the Notes Revolving Note on the Termination Revolving Loan Maturity Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent Lender hereunder or pursuant to the Notes for its own account or the account of the Banks Revolving Note shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. 12:00 noon on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent Lender after 11:00 a.m. 12:00 noon shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), (b) and (d) --------------- --- --- hereof, prepayments Prepayment on the Notes Term Note shall be applied to payment of the aggregate unpaid principal amounts amount of the NotesTerm Note, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each the Term Note in accordance with Section 2.6(c3.3(c) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the NotesTerm Note, while payment by the Borrower of the aggregate principal amount outstanding under the Notes Term Note on the Termination Term Loan Maturity Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent Lender hereunder or pursuant to the Notes for its own account or the account of the Banks Term Note shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. 12:00 noon on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent Lender after 11:00 a.m. 12:00 noon shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), (bSECTIONS 2.5(A) and (dB) --------------- --- --- hereof, prepayments on the Notes Note shall be applied to payment of the aggregate unpaid principal amounts of the NotesNote, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each the Note in accordance with Section 2.6(cSECTION 2.6(C) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the NotesNote, while payment by the Borrower of the aggregate principal amount outstanding under the Notes Note on the Termination Maturity Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent Lender hereunder or pursuant to the Notes for its own account or the account of the Banks Note shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. 12:00 noon on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent Lender after 11:00 a.m. 12:00 noon shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.

Application of Payments and Prepayments. (a) Except as otherwise provided in Sections 2.5(a), (b) and (d) --------------- --- --- hereof, prepayments Prepayment on the Notes Term Note shall be applied to payment of the aggregate unpaid principal amounts amount of the NotesTerm Note, with the balance of any such prepayments, if any, being applied to accrued interest. Payments of accrued interest on each the Term Note in accordance with Section 2.6(c2A.3(c) -------------- hereof shall be applied to the aggregate accrued interest then outstanding under the NotesTerm Note, while payment by the Borrower of the aggregate principal amount outstanding under the Notes Term Note on the Termination Term Loan Maturity Date shall be applied to principal. (b) Except as otherwise provided or specified in Section 2.2(f) -------------- hereof, each payment or prepayment 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. (c) All sums payable by the Borrower to the Agent Lender hereunder or pursuant to the Notes for its own account or the account of the Banks Term Note shall be payable in United States dollars in immediately available funds not later than 11:00 a.m. 12:00 noon on the date such payment or prepayment is due and shall be made without set-off, counterclaim or deduction of any kind. Any such payment or prepayment received and accepted by the Agent Lender after 11:00 a.m. 12:00 noon shall be considered for all purposes (including the payment of interest, to the extent permitted by law) as having been made on the next succeeding Business Day. All such payments or prepayments shall be made at the Principal Office. If any payment or prepayment becomes due and payable on a day which is not a Business Day, then the date for the payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at the then applicable rate per annum during such extension.