Application of Principal Payments. Subject to Section 14.4, principal payments and prepayments shall be applied (a) so long as no Event of Default or Potential Default has occurred and is continuing, to principal amounts owing under the 5-Year Facility, including to Overnight Advances, as Borrower directs in writing (provided that Bid Rate Loans may not be prepaid); or (b) if an Event of Default or Potential Default has occurred and is continuing, or if Borrower provides no specific direction, then to principal amounts owing (i) under those Overnight Advances with respect to which the Overnight Maturity Date has occurred, then (ii) under those Bid Rate Loans with respect to which the Bid Maturity Date has occurred, then (iii) under the 5-Year Facility (other than Bid Rate Loans or Overnight Advances), then (iv) under those Overnight Advances with respect to which the Overnight Maturity Date has not occurred, then (v) under the Bid Rate Loans with respect to which the Bid Maturity Date has not occurred (provided that Bid Rate Loans shall not be prepaid unless an Event of Default or Potential Default is continuing, and Borrower will be responsible for all Funding Losses applicable to such prepayment). Subject to the provisions of the foregoing sentence, payments shall be applied first to Base Rate Loans and then to LIBO Rate Loans unless Borrower directs otherwise in writing; provided, subject to Section 14.4, upon the occurrence and during the continuance of an Event of Default or Potential Default, such payments shall be applied, first to fees, second to interest, third to principal pro-rata to the applicable Loans, fourth to the Cash Collateral Account, and last to any other Bank Debt.
Application of Principal Payments. Each repayment or prepayment of the principal of Loans in any currency by any Borrower shall be applied (except as EDS may otherwise specify by notice to the Administrative Agent when no Default shall be continuing), to the extent of such payment, Pro Rata to the Loans:
(i) first, to the Loans in such currency to such Borrower having an Interest Period ending on the date of such payment,
(ii) second, to any outstanding Base Rate Loans in such currency to such Borrower, and
(iii) third, to any outstanding Eurodollar Loans or Eurocurrency Loans in such currency to such Borrower, or, if there are no Eurodollar Loans or Eurocurrency Loans outstanding in such currency to such Borrower on the date of such repayment or prepayment, such amount shall be applied to the repayment or prepayment of any Loans to such Borrower selected by the Administrative Agent. Notwithstanding the foregoing or any other provision of this Agreement, no Eurodollar Loans or Eurocurrency Loans shall be prepaid on any day other than the last day of the Interest Period therefor except pursuant to the provisions of Sections 3.5, 3.8, 3.9, 3.10, 3.11, 3.12 or 3.14 or upon acceleration pursuant to this Agreement.
Application of Principal Payments. Principal payments and prepayments shall be applied (a) to principal amounts owing under the 364-Day Facility or the 3-Year Facility, or to Overnight Advances as Borrower directs in writing (provided that Bid Rate Loans under each Facility may not be prepaid), or (b) if Borrower provides no specific direction, then to principal amounts owing under the 364-Day Facility, the 3-Year Facility (other than Bid Rate Loans under the two Facilities), and the Overnight Advances in the ratio of the amount of the outstanding principal balance owed under each, divided by the principal balance owed under all three (excluding Bid Rate Loan balances in both cases). In the case of (a) and (b) and subject to the provisions of such clauses, payments shall be applied first to Base Rate Loans and then to LIBO Rate Loans unless Borrower directs otherwise in writing. However, upon the occurrence and during the continuance of an Event of Default or Potential Default, all payments shall be applied, first to fees, second to interest, third to principal pro-rata to all Loans, fourth to the Cash Collateral Account, and last to any other Bank Debt.
Application of Principal Payments. (a) Each payment of the principal amount of any Notes shall be applied to the Notes pro rata in accordance with the respective unpaid principal amounts of the Notes at the time held by the holders thereof. Notwithstanding the foregoing provisions of this Section 3.2(a), in the event that a prepayment is made by the Company of all or any portion of the outstanding principal amount of the Purchaser Senior Subordinated Convertible Note and the Additional Notes on or prior to the date that is 30 days after the date hereof, 50% of the aggregate amount of such prepayment shall be applied to the Purchaser Senior Subordinated Convertible Note and 50% of the aggregate amount of such prepayment shall be applied to the Additional Notes, pro rata in accordance with the respective unpaid principal amounts of the Additional Notes.
(b) Upon any payment or prepayment of all or a part of the Notes pursuant to Section 3.1, such payment shall be accompanied by a payment of all interest accrued on such principal amount to the date of such payment.
Application of Principal Payments. Unless otherwise agreed by the Lender and the Borrower in writing, all payments of principal, whether mandatory or optional, received by the Lender when no Event of Default has occurred and is continuing shall be applied first to the principal of Revolving Credit Loans evidenced by Revolving Credit Note C until all of the Revolving Credit Loans evidenced thereby shall have been paid in full, then to the principal of Revolving Credit Loans evidenced by Revolving Credit Note B, until all of the Revolving Credit Loans evidenced thereby shall have been paid in full, then to the principal of Revolving Credit Loans evidenced by Revolving Credit Note A. All payments of principal on Revolving Credit Loans, whether mandatory or optional, received by the Lender after an Event of Default has occurred and is continuing may be applied by the Lender among Revolving Credit Notes A, B and C as the Lender may determine, in its discretion.
Application of Principal Payments. Subject to Section 12.4, principal payments and prepayments shall be applied, if Borrower provides no specific direction, to the principal amounts owing (i) under the Revolving Facility and then (ii) under the Term Facility. Subject to the provisions of the foregoing sentence,Principal payments shall be applied first to Base Rate Loans, second and then to Term SOFR Rate Loans and then to Quoted Rate Loans unless Borrower directs otherwise in writing; provided, subject to Section 12.4, upon the occurrence and during the continuance of an Event of Default or Potential Default, such payments shall be applied, first to fees, second to interest, third to principal pro-rata to the applicable Loans, and last to any other Obligations.
Application of Principal Payments. If on the date a principal payment is made with respect to the Advances, interest is calculated both on the basis of the Prime Interest Rate and the LIBOR Rate, then such payment shall be applied first to the Advances principal for which interest is calculated on the basis of the Prime Interest Rate (the "Prime Interest Rate Principal"). Only when the Prime Interest Rate Principal is fully paid shall the principal payment be applied to the LIBOR Advance(s) principal. If more than one LIBOR Advance is outstanding, the principal amount shall be applied to the LIBOR Advances in the order of maturity, with the LIBOR Advances with the shortest time to maturity paid first.
Application of Principal Payments. (a) All payments and prepayments of the principal amount of the Notes made pursuant to Section 3.1(c) or (d) shall be applied to the outstanding principal amount of the Term Notes until paid in full. The Term Notes, to the extent paid or prepaid as herein provided, shall not be reissued.
(b) All payments and prepayments of principal made pursuant to Section 3.1(b) shall be applied to the outstanding principal amount of the Revolving Notes, any such payment or prepayment shall not affect the Maximum Revolving Commitment and such Revolving Notes, notwithstanding such payment or prepayment, may be reissued and sold in the manner and to the extent provided in Section 2.2.
(c) All payments and prepayments of principal made pursuant to Section 3.2(a) shall be applied first to the outstanding principal amount of the Revolving Notes until such principal amount shall be reduced to $0, and thereafter shall be applied to the outstanding principal amount of the Term Notes. Amounts applied to the Revolving Notes pursuant to this subsection (c) shall not affect the Maximum Revolving Commitment,
Application of Principal Payments. Unless otherwise agreed by the Lender and the Borrower in writing, all payments of principal, whether mandatory or optional, received by the Lender when no Event of Default has occurred and is continuing shall be applied first to the principal of Revolving Credit Loans evidenced by Revolving Credit Note D until all of the Revolving Credit Loans evidenced thereby shall have been paid in full, then to the principal of Revolving Credit Loans evidenced by Revolving Credit Note C until all of the Revolving Credit Loans evidenced thereby shall have been paid in full, then to the principal of Revolving Credit Loans evidenced by Revolving Credit Note B, until all of the Revolving Credit Loans evidenced thereby shall have been paid in full, then to the principal of Revolving Credit Loans evidenced by Revolving Credit Note A. All payments of principal on Revolving Credit Loans, whether mandatory or optional, received by the Lender after an Event of Default has occurred and is continuing may be applied by the Lender among Revolving Credit Notes A, B, C and D as the Lender may determine, in its discretion.
Application of Principal Payments. Unless an Event of Default has occurred and is continuing or the Agent has determined that it is illegal for a Bank to render Revolving Credit LIBOR Rate Loans, if on the date a principal payment is made with respect to the Revolving Credit Loans or the Term Loan, as applicable, interest is calculated both on the basis of the Base Rate and the LIBOR Rate, then such payment shall be applied first to the Revolving Credit Loans principal or the Term Loan principal, as applicable, for which interest is calculated on the basis of the Base Rate (the "BASE RATE PRINCIPAL"). Unless an Event of Default has occurred and is continuing or the Agent has determined that it is illegal for a Bank to render Revolving Credit LIBOR Rate Loans, only when the Base Revolver Rate Principal is fully paid shall the principal payment be applied to the Revolving Credit LIBOR Rate Loan(s) principal or the Term Loan principal bearing interest at a rate determined by reference to the LIBOR Rate, as applicable. If more than one Revolving Credit LIBOR Rate Loan is outstanding the principal amount shall be applied to the Revolving Credit LIBOR Rate Loans in the order of maturity, with the Revolving Credit LIBOR Rate Loans with the shortest time to maturity paid first.
