Application of Payments Prior to Event of Default. (a) Prior to the occurrence of an Event of Default of which the account officers of the Agent active on the Borrower's account have knowledge, all funds transferred to the BKB Concentration Account and for which the Borrower has received credits shall be applied to the Obligations as follows:
Appears in 2 contracts
Samples: Credit Agreement (Fairfield Communities Inc), Revolving Credit Agreement (Fairfield Communities Inc)
Application of Payments Prior to Event of Default. (a) Prior to the occurrence of an the Trigger Date, and so long as no Event of Default has occurred of which the account officers of the Agent active on the Borrower's account have knowledge, all funds transferred to the BKB Concentration Account and for which the Borrower has received credits shall be be, except as otherwise required by Section 5.2(b) and (c), applied to the Obligations as follows:Operating Account and made available to the Borrower.
Appears in 1 contract
Samples: Revolving Credit Agreement (Aztec Technology Partners Inc /De/)
Application of Payments Prior to Event of Default. (a) Prior to the occurrence of an Event of Default of which the account officers of the Agent active on the Borrower's account have knowledge, all funds transferred to the BKB Concentration Collection Account and for which the Borrower has received credits shall be applied to the Obligations as follows:
Appears in 1 contract
Samples: Revolving Credit Agreement (Outsource International Inc)
