Common use of Application of Proceeds of Financings and Specific Payments Clause in Contracts

Application of Proceeds of Financings and Specific Payments. The Owner Trustee shall cause each of the Companies to promptly pay all amounts received by them from the issuance of Commercial Paper and Notes as provided in the Basic Documents to which they shall be a party and to apply all payments received by them for which provision as to the application thereof is made in such Basic Documents forthwith to the purpose for which such payments were made in accordance with the terms of such Basic Documents.