Common use of Application of receipts; partial payments Clause in Contracts

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 an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or the Security Trustee under the Finance Documents; (ii) secondly, in or towards payment of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment of any principal due but unpaid to the Lenders under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (b)(ii) to (b)(iv) above. (c) Any sums received or recovered by any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled thereto.

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 an 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): (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver or any Delegate under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid to the Lenders under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary, or instruct the Security Agent to vary (as applicable) the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered Paragraphs (a) and (b) above will override any appropriation made by any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoa Transaction Obligor.

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 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 Obligor under the Finance Documents in the following order: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver or any Delegate under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid to the Lenders under this Agreement; and; (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary, or instruct the Security Agent to vary (as applicable) the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered by Paragraphs (a) and (b) above will override any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable appropriation made by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoObligor.

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 an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any amounts other amounts than those listed in (ii) through (v) below and owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver and any Delegate under the Finance Documents; (ii) secondly, in or towards payment of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment of any principal due but unpaid to the Lenders under this Agreement; and; (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered by Paragraphs (a) and (b) above will override any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable appropriation made by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoObligor.

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 an 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: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver or any Delegate under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid to the Lenders under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary, or instruct the Security Agent to vary (as applicable) the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered Paragraphs (a) and (b) above will override any appropriation made by any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoa Transaction Obligor.

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 an 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: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver or any Delegate under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid to the Lenders under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary, or instruct the Security Agent to vary (as applicable), the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered Paragraphs (a) and (b) above will override any appropriation made by any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoa Transaction Obligor.

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 an 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: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver and any Delegate under the Finance Documents; (ii) secondly, in or towards payment of pro rata of: (A) any accrued interest and fees due but unpaid to the Lenders under this Agreement; and (B) any periodical payments (not being payments as a result of termination or closing out) due but unpaid to the Hedge Counterparties under the Hedging Agreements; (iii) thirdly, in or towards payment of pro rata of: (A) any principal due but unpaid to the Lenders under this Agreement; and (B) any payments as a result of termination or closing out due but unpaid to the Hedge Counterparties under the Hedging Agreements; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority LendersLenders and the Hedge Counterparties, vary the order set out in paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered by Paragraphs (a) and (b) above will override any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable appropriation made by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoObligor.

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 an 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: (i) first, in or towards payment pro rata of any unpaid fees, costs and expenses of, and any other amounts owing to, the Facility Agent or Agent, the Security Trustee Agent, any Receiver or any Delegate under the Finance Documents; (ii) secondly, in or towards payment pro rata of any accrued interest and fees due but unpaid to the Lenders under this Agreement; (iii) thirdly, in or towards payment pro rata of any principal due but unpaid to the Lenders under this Agreement; and (iv) fourthly, in or towards payment pro rata of any other sum due to any Finance Party but unpaid under the Finance Documents. (b) The Facility Agent shall, if so directed by the Majority Lenders, vary, or instruct the Security Agent to vary (as applicable) the order set out in sub-paragraphs (b)(iiii) to (b)(iviv) of paragraph (a) above. (c) Any sums received or recovered Paragraphs (a) and (b) above will override any appropriation made by any Finance Party under or by virtue of the Finance Documents in excess of the amounts then due and payable by an Obligor under the Finance Document shall be paid to the Borrower or to whomsoever may be entitled theretoa Transaction Obligor.