Application of Regular Payments. When Equitable receives a Regular Payment, Equitable will first apply it to Late Interest, if any. Next Equitable will apply it to Interest on the Fixed Rate Principal Amount. Finally, Equitable will apply any remaining part of the Regular Payment to reduce the Fixed Rate Principal Amount. Equitable may also decide to apply a Regular Payment to other amounts you may owe to third parties whose claims might constitute a higher priority interest to the Mortgage, for example Taxes, in any order Equitable determines in its sole discretion. The foregoing is subject to section 2.05.
Application of Regular Payments. Provided no Event of Default or Potential Default has occurred and is continuing, Regular Payments shall be applied in the manner directed by Borrower in writing, but if Borrower has not so directed, then first to Base Rate Loans, then to Quoted Rate Loans, and then to Fixed Rate Loans and, if to Fixed Rate Loans or Quoted Rate Loans, so long as no Event of Default or Potential Default has occurred and is continuing, Borrower shall have the right to designate which Fixed Rate Loan or Loans or Quoted Rate Loan or Loans. On the date of making any Regular Payments, Borrower shall pay the Funding Losses (determined in the same manner as provided in Subsection 7.1.3 hereof for prepayments as though such Regular Payment was a prepayment), if any, resulting from such payment. Upon the occurrence and during the continuance of an Event of Default or Potential Default, all amounts paid to Agent shall be applied, as Agent in its sole discretion shall determine, to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes, or to any other Bank Debt. The amount of Loan Proceeds advanced and other Bank Debt, and all payments by or on behalf of Borrower, of such amounts, shall be entered on the books of the Agent and/or the Syndication Parties and such entries shall be presumptive evidence of the unpaid amounts outstanding from time to time under the Notes and other Loan Documents.
Application of Regular Payments. When we receive a Regular Payment, we will first apply it to Late Interest, if any. Next we will apply it to Interest on the Variable Rate Principal Amount. Finally we will apply any remaining part of the Regular Payment to reduce the Variable Rate Principal Amount. We may also decide to apply a Regular Payment to other amounts you may owe to third parties whose claims might constitute a higher priority interest to the Mortgage, for example Taxes, in any order we determine in our sole discretion. The foregoing is subject to section 2.05.
Application of Regular Payments. Upon the occurrence of an Event of Default, at its option, Bank shall have the right to apply all Regular Payments made under the Agreement to principal, interest, and other charges, fees, costs and expenses payable by Borrower under the Agreement or in connection with the Loan in such order and amounts as Bank may determine in its sole discretion.
Application of Regular Payments. Upon the occurrence and during the continuance of an Event of Default or Potential Default, all payments and other amounts received by Agent shall be applied, as Agent in its sole discretion shall determine, to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes, or to any other Bank Debt. The amount of Loan Proceeds advanced and other Bank Debt, and all payments by or on behalf of Borrower, of such amounts, shall be entered on the books of the Agent and/or the Syndication Parties and such entries shall be presumptive evidence of the unpaid amounts outstanding from time to time under the Notes and other Loan Documents.
Application of Regular Payments. Regular Payments and prepayments shall be applied pro rata to Base Rate Loans (if any) and to Fixed Rate Loans. Upon the occurrence and during the continuance of an Event of Default or Potential Default, all amounts paid to Agent shall be applied, as Agent in its sole discretion shall determine, to fees, interest or principal indebtedness under the Notes, or to any other Bank Debt. The amount of Loan Proceeds advanced and other Bank Debt, and all payments by or on behalf of Borrower, of such amounts, shall be entered on the books of the Agent and/or the Syndication Parties and such entries shall be presumptive evidence of the unpaid amounts outstanding from time to time under the Notes and other Loan Documents.
Application of Regular Payments. Provided no Event of Default or Potential Default has occurred, scheduled principal payments shall be applied to the Note with respect to which such payment was made and shall be applied first to Loans bearing interest at the Base Rate, then to Quoted Rate Loans. Upon the occurrence and during the continuance of an Event of Default or Potential Default, all amounts received by CoBank shall be applied, as CoBank in its sole discretion shall determine (upon notification to Borrower), to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes, or to any other Bank Debt. The amount of Loan Proceeds advanced and other Bank Debt, and all payments by or on behalf of Borrower, of such amounts, shall be entered on the books of CoBank and such entries shall be, absent evidence of manifest error, presumptive evidence of the unpaid amounts outstanding from time to time under the Notes and other Loan Documents.
Application of Regular Payments. 29 6.4 Manner of Payment; Payment on Business Days .....29 6.5 Borrower Reduction of Aggregate Revolving Loan Commitment ..............................................29 Article 7 Prepayments....................................30 7.1
