Application of Sums Sample Clauses

Application of Sums. The application of any sums by whomsoever paid or however realized to any amounts owing by Guarantor or Borrower to Lender in such manner as Lender shall determine in its sole discretion, subject to, and otherwise in accordance with, the terms of the Loan Agreement and the other Loan Documents.
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Application of Sums. RECEIVED All sums received under this Agreement by either of the Lenders or by SOCIETE GENERALE, on behalf of the Lenders, for any reason whatsoever will, without prejudice to complementary provisions of the Mortgages, be applied: (a) in priority, to payments of any kind due or in arrears in the order of their Maturity Dates and, if relevant, prorata to each of the Lenders; or (b) if no payments are in arrears or if these payments have been discharged as set out above, then: (1) to sums remaining due under this Agreement and not evidenced by Promissory Notes, and (2) to sums remaining due under this Agreement evidenced by Promissory Notes, and if relevant, prorata to each of the Lenders and in each case in inverse order of maturity, the interest being recalculated accordingly. 36 <PAGE> ARTICLE XIX INTENTIONALLY OMITTED 37 <PAGE> ARTICLE XX - GOVERNING LAW This Agreement and all related documents or agreements (with the exception of the securities governed by a foreign law) shall be governed by French Law. 38 <PAGE> ARTICLE XXI - ARBITRATION In the event of any dispute, difference, controversy or claim arising out of, or relating to or in connection with, this Agreement and any related documents or agreements (with the exception of the securities governed by a foreign law), the same shall be submitted to and finally settled by arbitration under the Rules of Arbitration of the International Chamber of Commerce by three (3) arbitrators appointed in accordance with the said Rules and who will reach their decision by applying French law. The arbitration shall take place in Geneva and shall be conducted in the English language. 39 <PAGE> ARTICLE XXII - APPENDICES The following appendices form an integral part of this Agreement APPENDIX I: Documents to be produced by the Supplier to SOCIETE GENERALE APPENDIX II: Part 1: Specimen of Promissory Note A Part 2: Specimen of Promissory Note B APPENDIX III: Part 1: Specimen of a letter containing a joint interest mandate Part 2: Xxxxxxx' Letter of Undertaking APPENDIX IV: Guarantor's Letter of Undertaking APPENDIX V: Part 1: Independent First Demand Guarantee to SOCIETE GENERALE Part 2: Independent First Demand Guarantee to CREDIT AGRICOLE INDOSUEZ APPENDIX VI: Approved Charterer's Letter of Undertaking 40 <PAGE> ARTICLE XXIII - NOTICES AND SERVICES OF PROCESS Any notices, demands and service of process relating to this Agreement or its performance, shall be in writing and shall be validly addressed, delivered or serve...
Sample 1
Application of Sums. Except for the Contractor's Fee, Contractor shall use the sums advanced to it pursuant to this Section V solely for the purpose of performance of the Work and the construction, equipping and furnishing of the Improvements in accordance with the Drawings and Specifications. However, no provision hereof shall be construed to require Owner to see to the proper disposition or application of the monies so advanced to Contractor.
Sample 1
Application of Sums. The application of any sums by whomsoever paid or however realized to any amounts owing by Guarantor to the EPR Parties in such manner as the EPR Parties shall determine in their sole discretion, subject to, and otherwise in accordance with, the terms of the MDA and the other Project.
Sample 1

Related to Application of Sums

  • Application of Funds After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them;

  • Application of Sale Proceeds In the event of a sale of Shares, the proceeds shall first be applied to the payment of the expenses of the sale, including brokers' commissions, counsel fees, any taxes or other charges imposed by law upon the Shares or the transfer thereof and all other charges paid or incurred by Pledgee pertaining to the sale; and, second, to satisfy outstanding Obligations, in the order in which Pledgee elects in its sole discretion; and, third, the surplus (if any) shall be paid to Pledgor.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Administrative Agent as set forth in Section 7.06 of the Credit Agreement.

  • Application of Cash At Lender's option, Lender may apply any cash, whether included in the Collateral or received as Income and Proceeds or through liquidation, sale, or retirement, of the Collateral, to the satisfaction of the Indebtedness or such portion thereof as Lender shall choose, whether or not matured.

  • Application of Agreement 4.1 This Agreement applies to:

  • Application of Proceeds The Collateral Agent shall apply the proceeds of any collection, sale, foreclosure or other realization upon any Collateral, including any Collateral consisting of cash, as follows: FIRST, to the payment of all costs and expenses incurred by the Administrative Agent or the Collateral Agent (in their respective capacities as such hereunder or under any other Loan Document) in connection with such collection, sale, foreclosure or realization or otherwise in connection with this Agreement, any other Loan Document or any of the Obligations, including all court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent or the Administrative Agent hereunder or under any other Loan Document on behalf of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; SECOND, to the payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among the Administrative Agent, any Swingline Lender and any Issuing Bank pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution); THIRD, to the payment in full of all other Obligations (the amounts so applied to be distributed (subject to the first proviso to Section 3.01 and clause (B) of the first proviso to Section 4.01(a)) among the Secured Parties pro rata in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and FOURTH, to the Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. The Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof.

  • Application of Net Proceeds The Company shall apply the net proceeds from the Offering received by it in a manner consistent with the application thereof described under the caption “Use of Proceeds” in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Application of Trust All money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and, at the written direction of the Issuers, be invested prior to maturity in non-callable U.S. Government Obligations, and applied by the Trustee in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for the payment of which money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law.

  • Application of Collections On each Payment Date, all collections for the related Collection Period shall be applied by the Servicer as follows:

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