Application of receipts; partial payments. 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 7 contracts
Samples: Term Loan Facility (Okeanis Eco Tankers Corp.), Term Loan Facility (Navios Maritime Partners L.P.), Term Loan Facility (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 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: Facility Agreement (Global Ship Lease, Inc.), Facility Agreement (Navios Maritime Partners L.P.)
Application of receipts; partial payments. 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: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
