Application of Payments to Principal and Interest. All payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied and apportioned in the following order, subject to Sections 8.3 and 8.4: (i) First, to the payment of interest in respect of the Loans, pro rata according to the respective unpaid principal amounts of the Loans owed to the Lenders; and (ii) Second, to the payment of principal (including any applicable Prepayment Premium) in respect of the Loans, pro rata according to the respective unpaid principal amounts of the Loans owed to the Lenders.
Appears in 4 contracts
Samples: Credit Agreement (Dialogic Inc.), Credit Agreement (Tennenbaum Capital Partners LLC), Credit Agreement (Dialogic Inc.)
