Application of Payments and Reinvestment. (a) On each Loan Payment Date on which Section 2.07(b) is not applicable, the amount of the Collections attributable to or received during the related Collection Period and other Cash amounts remaining on deposit in the Custodial Account (including all amounts held as Temporary Investments in the Custodial Account, or to the extent Section 2.07(d) requires any amount to be withdrawn from the Interest Reserve Account, the Interest Reserve Account (which shall be liquidated to the extent required to make any of the payments under clauses (i) through (vi) below), but excluding (i) for purposes of making distributions on such Loan Payment Date, any amounts constituting Collections received during the subsequent Collection Period and (ii) the amount of drawn Capital Commitments that has been notified by the Borrower to the Agents and the Lender as having been transferred from the Working Capital Reserve to the Custodial Account for the purpose of purchasing Eligible Assets) shall be applied in accordance with the following order of priority (collectively, the “Non-Default Priority of Payments”):
Appears in 13 contracts
Samples: Guarantee and Security Agreement, Guarantee and Security Agreement, Loan Agreement (Nuveen Mortgage Opportunity Term Fund 2)
