Application of receipts; partial payments. (a) If the Facility Agent or the Security Trustee (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Loan Documents, the Facility Agent or the Security Trustee (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Loan Documents in accordance with Section 9.2 (Application of Moneys). (b) Paragraph (a) above will override any appropriation made by a Transaction Obligor.
Appears in 2 contracts
Samples: Credit Agreement (SEACOR Marine Holdings Inc.), Credit Agreement (SEACOR Marine Holdings Inc.)
Application of receipts; partial payments. (a) If the Facility Agent or the Security Trustee Agent (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Loan Finance Documents, the Facility Agent or the Security Trustee Agent (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Loan Finance Documents in accordance with Section 9.2 (Application of Moneys).
(b) Paragraph (a) above will override any appropriation made by a Transaction Obligor.the following order:
Appears in 2 contracts
Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp)
