Common use of Apportionment, Application and Reversal of Payments Clause in Contracts

Apportionment, Application and Reversal of Payments. Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of any fees subject to apportionment under this Agreement, as applicable, shall be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements (including any amounts relating to Bank Products) then due to the Agent or the Syndication Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Loans, including Agent Advances; fourth, to pay or prepay principal of the Agent Advances; fifth, to pay or prepay principal of the Loans (other than Agent Advances); and sixth, to the payment of any other Obligation due to the Agent, the Syndication Agent or any Lender by the Borrower. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(i). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.

Apportionment, Application and Reversal of Payments. Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans Term Loan to which such payments relate held by each Lender) and payments payment of any the fees subject to apportionment under this Agreementshall, as applicable, shall be apportioned ratably among the Lenders, except for fees payable solely to Agent. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loansthe Term Loan, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements (including any amounts relating to Bank Products) then due to the Agent or the Syndication Agent from the BorrowerBorrowers; second, to pay any fees fees, indemnities or expense reimbursements then due to the Lenders from the BorrowerBorrowers; third, to pay interest due in respect of all Loans, including Agent Advancesthe Term Loan; fourth, to pay or prepay principal of the Agent Advances; fifth, to pay or prepay principal of the Loans (other than Agent Advances)Term Loan; and sixthfifth, to the payment of any other Obligation due Obligations. Notwithstanding anything to the Agentcontrary contained in this Agreement, the Syndication neither Agent or nor any Lender shall apply any payments which it receives to any LIBOR Loan, unless (a) so directed by the Borrower. The Agent shall promptly distribute to each LenderBorrowers, pursuant to (b) an Event of Default has occurred and is continuing or (c) such payments are applied on the expiration date of the Interest Period applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(i). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.such

Apportionment, Application and Reversal of Payments. Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of any the fees subject to apportionment under this Agreementshall, as applicable, shall be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements (including any amounts relating to Bank Products) then due to the Agent or the Syndication Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Revolving Loans, including Agent Non-Ratable Loans and Protective Advances; fourth, to pay or prepay principal of the Agent Non-Ratable Loans and Protective Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Agent Non-Ratable Loans and Protective Advances); ) and sixth, to the payment of any other Obligation including any amounts relating to Bank Products due to the Agent, the Syndication Agent or any Lender or any of their Affiliates by the Borrower. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(i). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.the

Apportionment, Application and Reversal of Payments. Principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of any the fees subject to apportionment under this Agreementshall, as applicable, shall be apportioned ratably among the Lenders, except for fees payable solely to Agent and the Letter of Credit Issuer and except as provided in SECTION 11.1(B). All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities indemnities, or expense reimbursements (including any amounts relating to Bank Products) then due to the Agent or the Syndication Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Loans, including Non-Ratable Loans and Agent Advances; fourth, to pay or prepay principal of the Non-Ratable Loans and Agent Advances; fifth, to pay or prepay principal of the Revolving Loans (other than Non-Ratable Loans and Agent Advances)) and unpaid reimbursement obligations in respect of Letters of Credit; sixth, to pay an amount to Agent equal to all outstanding Letter of Credit Obligations to be held as cash collateral for such Obligations; and sixthseventh, to the payment of any other Obligation due to the Agent, the Syndication Agent or any Lender by the Borrower. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(i). The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations.Obligations including any