Application of Prepayments to Components Sample Clauses

Application of Prepayments to Components. Any prepayment of the principal of the Loan, in whole or in part, voluntary or involuntary, shall be applied (a) first, to the reduction of the outstanding principal balance of the Project Loan until reduced to zero, and (b) second, to the reduction of the outstanding principal balance of the Building Loan until reduced to zero. Subsequent to any Event of Default, any payment of principal from whatever source may be applied by Lender between the various components of the Loan in Lender’s sole discretion.

Application of Prepayments to Components. Except for any First 25% Prepayment Amount, any principal payments received on the Loan when no Event of Default exists shall be applied by Lender between the Components of Loan (a) first, to the reduction of the outstanding principal balance of Component A until reduced to zero, (b) second, to the reduction of the outstanding principal balance of Component B until reduced to zero, (c) third, to the reduction of the outstanding principal balance of Component C until reduced to zero, (d) fourth, the reduction of the outstanding principal balance of Component D until reduced to zero, (e) fifth, to the reduction of the outstanding principal balance of Component E until reduced to zero, (f) sixth, to the payment of interest then due and payable under Component F, an d(g) seventh, to the payment of interest then due and payable under Component H-RR. Any First 25% Prepayment Amount received on the Loan when no Event of Default exists shall be applied to each Component of the Loan on a pro rata pari passu basis, provided, however, that if there exists a Trigger Period (other than an Event of Default) when such First 25% Prepayment Amount is received, such First 25% Prepayment Amount shall be applied sequentially amongst the Components of the Loan as set forth above. Following any Event of Default, any payment of principal (including any First 25% Prepayment Amount) from whatever source may be applied by Lender between the Components of the Loan in Lender’s sole discretion.

Application of Prepayments to Components. Except for any First 25% Prepayment Amount, any principal payments received on the Loan when no Event of Default exists shall be applied by Lender between the Components of Loan (a) first, to the reduction of the outstanding principal balance of Component A until reduced to zero, (b) second, to the reduction of the outstanding principal balance of Component B until reduced to zero, (c) third, to the reduction of the outstanding principal balance of Component C until reduced to zero, (d) fourth, the reduction of the outstanding principal balance of Component D until reduced to zero, (e) fifth, to the reduction of the outstanding principal balance of Component E until reduced to zero, (f) sixth, to the payment of interest then due and payable under Component F, (g) seventh, to the payment of interest then due and payable under Component G, and (h) eight, to the payment of interest then due and payable under Component HRR. Any First 25% Prepayment Amount received on the Loan when no Event of Default exists shall be applied to each Component of the Loan on a pro rata pari passu basis, provided, however, that if there exists a Trigger Period (other than an Event of Default) when such First 25% Prepayment Amount is received, such First 25% Prepayment Amount shall be applied sequentially amongst the Components of the Loan as set forth above. Following any Event of Default, any payment of principal (including any First 25% Prepayment Amount) from whatever source may be applied by Lender between the Components of the Loan in Lender’s sole discretion.” (v) Section 8.8(a) of the Original Loan Agreement is hereby amended by inserting the following at the end thereof: “On March 9, 2018, Borrower shall deposit, or cause to be deposited, the amount of $2,582,976.00 (which amount may be adjusted to the extent modifications are made (which modifications are subject to Lender’s prior written consent) to the Approved Gabe Lease and/or the Approved Gabe Lease SNDA) (the “Gabe Lease Required Deposit”) into the Unfunded Obligations Reserve Account for free rent, tenant improvements and leasing commissions incurred pursuant to that certain Lease, to be entered into by and between Gxxxxxx Xxxxxxxx, Inc., as tenant, and Bxxxxxxxx-Xxxxxxxx Associates, L.P., as landlord (the “Gabe Lease”), with respect to the Individual Property known as Wrangleboro Consumer Square, Mxxx Landing, NJ as more particularly described on Schedule 8.8-A attached hereto. Borrower hereby authorizes Lender (...

Application of Prepayments to Components. Any principal payments received on the Loan when no Event of Default exists shall be applied by Lender between the Components (a) first, to the reduction of the outstanding principal balance of Component A-1, until reduced to zero, (b) second, to the reduction of the outstanding principal balance of Component A-2 until reduced to zero, (c) third, to the reduction of the outstanding principal balance of Component B until reduced to zero, (d) fourth, to the reduction of the outstanding principal balance of Component C until reduced to zero, (e) fifth, the reduction of the outstanding principal balance of Component D until reduced to zero, (f) sixth, to the reduction of the outstanding principal balance of Component E until reduced to zero and (g) seventh, to the reduction of the outstanding principal balance of Component F. Following any Event of Default, any payment of principal from whatever source may be applied by Lender between the Components in Lender’s sole discretion.

Application of Prepayments to Components. Any principal payments received on the Loan when no Event of Default exists shall be applied by Lender between the Components (a) first, to the reduction of the outstanding principal balance of Component FLA-1 until reduced to zero; (ii) second, to the reduction of the outstanding principal balance of Component FLA-2 until reduced to zero; (iii) third, to the reduction of the outstanding principal balance of Component FLB until reduced to zero; (iv) fourth, to the reduction of the outstanding principal balance of Component FLC until reduced to zero; (v) fifth, to the reduction of the outstanding principal balance of Component FLD until reduced to zero; (vi) sixth, to the reduction of the outstanding principal balance of Component FLE until reduced to zero; (vii) seventh, to the reduction of the outstanding principal balance of Component FLF until reduced to zero, (viii) eighth, to the reduction of the outstanding principal balance of Component FLG until reduced to zero, (ix) ninth, to the reduction of the outstanding principal balance of Component FXA until reduced to zero, (x) tenth, to the reduction of the outstanding principal balance of Component FXB until reduced to zero, (xi) eleventh, to the reduction of the outstanding principal balance of Component FXC until reduced to zero, (xii) twelfth, to the reduction of the outstanding principal balance of Component FXD until reduced to zero, (xiii) thirteenth, to the reduction of the outstanding principal balance of Component FXE until reduced to zero, (xiv) fourteenth, to the reduction of the outstanding principal balance of Component FXF until reduced to zero and (xv) fifteenth, to the reduction of the outstanding principal balance of Component FXG until reduced to zero. Following any Event of Default, any payment of principal from whatever source may be applied by Lender between the Components in Lender’s sole discretion.

Application of Prepayments to Components. Any prepayment of the principal balance of the Loan, in whole or in part (including pursuant to Section 2.4.2), shall be applied (i) first, to the payment of costs and expenses of Lender, if any (if, and only if, the payment of such costs and expenses is required pursuant to the terms of the Loan Documents (other than this Section 2.4.4)), including, without limitation, reasonable attorneys' fees and disbursements, actually incurred in connection with such prepayment, (ii) second, to the payment of all accrued and unpaid interest on Note A, (iii) third, to reduce the principal balance of Note A (and any Components thereunder in numerical order) until such principal balance is reduced to zero, (iv) fourth, to the payment of all accrued and unpaid interest on Note B and (v) fifth, to reduce the principal balance of Note B (and any Components thereunder in numerical order) until such principal balance is reduced to zero.

Application of Prepayments to Components. Any prepayment of the principal balance of the Loan, in whole or in part, shall be applied to reduce the Component principal balances of Component A, Component B, Component C, Component D, Component E and Component F, in that order, until the principal balance of each such Component is reduced to zero; provided, however, if a Defeasance Event has occurred, prepayments of principal will only be allocated to the Components of the Undefeased Note (in the same priority and method set

Application of Prepayments to Components. Any principal payments received on the Loan when no Event of Default exists shall be applied by Lender between the Components of Loan (a) first, to the reduction of the outstanding principal balance of Component A until reduced to zero, (b) second, to the reduction of the outstanding principal balance of Component B until reduced to zero, (c) third, to the reduction of the outstanding principal balance of Component C until reduced to zero and (d) fourth, to the reduction of the outstanding principal balance of Component H-RR. Following any Event of Default, any payment of principal from whatever source may be applied by Lender between the Components of the Loan in Lender’s sole discretion.

Application of Prepayments to Components. Any prepayment of the principal balance of the Loan, in whole or in part, shall be applied to reduce the principal balances of each of the Components in alphabetical and numerical order, until the principal balance of each Component is reduced to zero; provided, however, if a Partial Defeasance has occurred, prepayments of principal will only be allocated to the Components of the Undefeased Note (in the same priority and method set forth in this Section 3.2.3) and will not be allocated to reduce the principal balance of the Components of the Defeased Note.

Application of Prepayments to Components. Any prepayment of the principal balance of the Loan, in whole or in part, (a) shall, if such prepayment occurs pursuant to Sections 2.3.2, be applied to reduce the principal balances of the Components in the following order: (i) first, to Component A-1 and Component A-2, on a pro rata basis, based on the principal balances of each such Component, until such principal balances are reduced to zero, (ii) second, to Component B until the principal balance of such Component is reduced to zero, (iii) third, to Component C until the principal balance of such Component is reduced to zero, (iv) fourth, to Component D until the principal balance of such Component is reduced to zero, (v) fifth, to Component E until the principal balance of such Component is reduced to zero, and (vi) sixth, to Component F until the principal balance of such Component is reduced to zero, and (b) shall, if such prepayment occurs pursuant to Section 2.3.4, be applied to reduce the principal balances of the Components in the following order: (i) first, to Component A-1 until the principal balance of such Component is reduced to zero, (ii) second, to Component A-2, until the principal balance of such Component is reduced to zero, (iii) third, to Component B until the principal balance of such Component is reduced to zero, (iv) fourth, to Component C until the principal balance of such Component is reduced to zero, (v) fifth, to Component D until the principal balance of such Component is reduced to zero, (vi) sixth, to Component E until the principal balance of such Component is reduced to zero, and (vii) seventh, to Component F until the principal balance of such Component is reduced to zero; provided, however, that, in the case of each of the foregoing clauses (a) and (b), if a Defeasance Event has occurred, prepayments of principal will only be allocated to the Components of the Undefeased Note (in the same priority and method set forth in this Section 2.3.5) and will not be allocated to reduce the principal balance of the Components of the Defeased Note.