Common use of APPROPRIATION OF PAYMENTS Clause in Contracts

APPROPRIATION OF PAYMENTS. (a) All payments made by the Issuer to the Note Holder under this agreement may be appropriated as between principal, interest and other amounts, as the OF Manager in its absolute discretion determines, or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments incurred or due and owing by the Transaction Parties under the Material Documents; (2) second, towards payment of interest due and payable under the Material Documents; and (3) third, towards repayment of the Principal Outstanding. (b) Any appropriation under clause 6.3(a) overrides any appropriation made by the Issuer.

APPROPRIATION OF PAYMENTS. (a) All payments made by the Issuer to the Note Holder under this agreement may be appropriated as between principal, interest and other amounts, as the OF Manager in its absolute discretion determines, determines or, failing any determination, in the following order: (1) firstfirstly, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments incurred or due and owing by the Transaction Parties under the Material Documents; (2) secondsecondly, towards payment of interest due and payable under the Material Documents; and (3) thirdthirdly, towards repayment of the Principal Outstanding. (b) Any appropriation under clause 6.3(a) overrides any appropriation made by the Issuer.

APPROPRIATION OF PAYMENTS. (a) All payments made by the Issuer to the Note Holder under this agreement may be appropriated as between principal, interest and other amounts, as the OF Manager in its absolute discretion determines, determines or, failing any determination, in the following order: (1) firstfirstly, towards reimbursement reimbursements of all fees, costs, expenses, charges, damages and indemnity payments incurred or due and owing by the Transaction Parties Party under the Material Documents; (2) secondsecondly, towards payment of interest due and payable under the Material Documents; and (3) thirdthirdly, towards repayment of the Principal Outstanding. (b) Any appropriation under clause 6.3(a) overrides any appropriation made by the Issuer.