Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 14 contracts
Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Agreement (Global Ship Lease, Inc.), Agreement (Navios Maritime Partners L.P.)
Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 3 contracts
Samples: Assignment Agreement (Castor Maritime Inc.), Credit Agreement (DHT Holdings, Inc.), Credit Agreement (DHT Holdings, Inc.)
Application of receipts; partial payments. (a) If the Facility Agent or the Security Agent (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent or the Security Agent (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 3 contracts
Samples: Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp), Assignment Agreement (Pyxis Tankers Inc.)
Application of receipts; partial payments. (a) If Except as any Finance Document may otherwise provide, if the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 2 contracts
Samples: Banks and Financial Institutions (Okeanis Eco Tankers Corp.), Banks and Financial Institutions (Okeanis Eco Tankers Corp.)
Application of receipts; partial payments. (a) If the Facility Agent or the Security Agent (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent or the Security Agent (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:order (in addition to any relevant provisions in the Security Documents):
Appears in 2 contracts
Samples: Assignment Agreement (Global Ship Lease, Inc.), Junior Facility Agreement (Global Ship Lease, Inc.)
Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 1 contract
Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction an Obligor under the Finance DocumentsDocuments to which it is a party in accordance with their terms, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 1 contract
Samples: Assignment Agreement (Euroseas Ltd.)
