APPLICATION OF SUMS RECEIVED. Sums received by the Bank following a demand under Article 10.01 shall be applied first in payment of expenses, interest and indemnities and secondly in reduction of the outstanding instalments in inverse order of maturity. The Bank may apply sums received between Tranches at its discretion.
Appears in 6 contracts
Samples: Finance Contract, Finance Contract, Finance Contract (Midamerican Energy Holdings Co /New/)
