Application of Payments and Proceeds of Collateral. (a) All payments on account of the Obligations and all proceeds of Collateral received by Lender (whether pursuant to this Article VII, or otherwise) shall be applied as follows (regardless of how Lender may treat the payments for the purpose of its own accounting): first, to pay all reasonable and documented out-of-pocket costs and expenses (including reasonable and documented out-of-pocket attorneys fees and expenses) incurred by Lender in enforcing any Obligation of Borrowers hereunder, or in collecting any payments due hereunder or under the other Loan Documents, or which Borrowers are required to pay to Lender, until paid in full, second, to pay any fees then due to Lender under the Loan Documents until paid in full, third, ratably to pay all accrued and unpaid interest on the Loans until paid in full, fourth, so long as no Event of Default has occurred and is continuing, ratably to pay all principal amounts then due and payable (other than as a result of an acceleration thereof) on the Loans until paid in full, fifth, if an Event of Default has occurred and is continuing, ratably to pay the then outstanding principal balance of the Loans (in the case of the Term Loan, in the inverse order of the maturity of the installments due hereunder) until paid in full, and sixth, if an Event of Default has occurred and is continuing, ratably to pay any other Obligations until paid in full, and seventh, to Borrowers (to be wired to the Designated Account) or such other Person entitled thereto under applicable law.
Application of Payments and Proceeds of Collateral. Each Scheduled Payment with respect to a Term Loan, when paid, shall be applied first to the payment of accrued and unpaid interest on the applicable Term Loan and then to unpaid principal balance of such Term Loan. Each Scheduled Payment of interest with respect to a Revolving Loan, when paid, shall be applied to the payment of accrued and unpaid interest on the Revolving Loans. So long as no Event of Default (as defined below) has occurred and is continuing, payments consisting of proceeds of Accounts (as such term is defined in Schedule C) received in the ordinary course of business shall be applied to the Revolving Loans. All payments and prepayments applied to a particular Loan in accordance with this Agreement shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to all payments made when an Event of Default has occurred and is continuing or following the Commitment Termination Date, Borrower hereby irrevocably waives the right to direct the application of any and all payments received from or on behalf of Borrower, and Borrower hereby irrevocably agrees that Agent shall have the continuing exclusive right (in accordance with Section 8.4) to apply any and all such payments against the Obligations as Agent may deem advisable notwithstanding any previous entry by Agent in the Loan Account or any other books and records.
Application of Payments and Proceeds of Collateral. Except to the extent otherwise agreed by DIP Lender to be used by Borrower as cash collateral in the Bankruptcy Case, all monies received by DIP Lender pursuant to this Agreement (including, without limitation under Sections 1.2 and 1.1 of this Agreement) and all proceeds of Collateral received by DIP Lender shall be applied as set forth in the then applicable Financing Order. Until checks and other instruments delivered to DIP Lender in payment or on account of Borrower's obligations and the Indebtedness are actually paid to DIP Lender, Borrower agrees that such items constitute conditional payment only. For purposes of this Agreement, all payments on the DIP Loans or other amounts due under this Agreement or any Related Document shall be made in immediately available funds prior to 12:30 p.m. (eastern time) on the day when due. If such payments or other amounts due are received by DIP Lender on a day other than a Business Day or after 12:30 p.m. (eastern time) on a Business Day, such payments or other amounts shall be deemed to be applied by DIP Lender on account of the Indebtedness on the next Business Day following receipt in DIP Xxxxxx's account. Notwithstanding anything to the contrary in this Section 1.11, from and after the occurrence of an Event of Default, DIP Lender may apply, unapply and reapply amounts in its discretion; provided that such applications are in accordance with the then applicable Financing Order.
Application of Payments and Proceeds of Collateral. Unless this Agreement expressly provides otherwise (including as provided in Section 3.3), so long as no Application Event shall have occurred, and except as otherwise provided herein with respect to Defaulting Lenders, Agent may apply any proceeds of Collateral and all other payments received by Agent at any time when an Event of Default has occurred and is continuing to the payment of the Obligations in such manner and in such order as Agent may elect in its sole discretion; provided all principal and interest payments received by Agent shall be applied against outstanding and unpaid principal and interest and apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and all payments of fees and expenses received by Agent (other than fees or expenses that are for Agent's separate account) shall be applied against outstanding and unpaid fees and expenses and apportioned ratably among the Lenders having a Pro Rata Percentage of the type of Commitment or Obligation to which a particular fee or expense relates. At any time after the occurrence of an Application Event, Agent shall apply any proceeds of Collateral and all other payments received by Agent to the payment of the Obligations in the manner and order set forth in Section 11.4.
Application of Payments and Proceeds of Collateral. Until the occurrence of the Integrated Credit Termination Date, all payments received by the Integrated Agent and the Integrated Lenders, or any of them, from the Obligors shall be applied as provided in the Integrated Credit Agreement. All proceeds of the Collateral received by the Integrated Agent on behalf of the Integrated Lenders shall be applied as provided in the Integrated Credit Agreement. Upon the indefeasible payment in full in cash of all of the Integrated Obligations and the occurrence of the Integrated Credit Termination Date, the Integrated Agent and the Integrated Lenders shall turn over to the Americana Agent all Collateral remaining in their possession.
Application of Payments and Proceeds of Collateral. (i) APPLICATION OF PAYMENTS EXCEPT UPON THE OCCURRENCE AND DURING THE CONTINUATION OF
Application of Payments and Proceeds of Collateral. Until the occurrence of the Senior Credit Termination Date, all payments received by the Administrative Agent and the Senior Lenders, or any of them, from the Obligors shall be applied as provided in the Senior Credit Agreements. All proceeds of the Collateral received by the Administrative Agent on behalf of the Senior Lenders shall be applied as provided in the Senior Credit Agreements. Upon the indefeasible payment in full in cash of all of the Senior Debt and the occurrence of the Senior Credit Termination Date, the Administrative Agent and the Senior Lenders shall turn over to the Subordinated Creditors all Collateral remaining in their possession.
