Common use of APPROPRIATION OF PAYMENTS Clause in Contracts

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b) applies, all payments made by a Transaction Party under a Transaction Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties under the Transaction Documents; (2) second, towards payment of interest due and payable under the Transaction Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security must be appropriated in the manner provided in that Security. (c) Any appropriation under clauses 6.9(a) or 6.9(b) overrides any appropriation made by a Transaction Party.

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b6.11(b) applies, all payments made by a Transaction Party an Obligor under a Transaction Finance Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties Obligors under the Transaction Finance Documents; (2) second, towards payment of interest due and payable under the Transaction Finance Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security must be appropriated in the manner provided in that Security. (c) Any appropriation under clauses 6.9(a6.11(a) or 6.9(b(b) overrides any appropriation made by a Transaction Partyan Obligor.

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b‎7.6(b) applies, all payments made by a Transaction Party under a Transaction Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties under the Transaction Documents; (2) second, towards payment of interest due and payable under the Transaction Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security must be appropriated in the manner provided in that SecuritySecurity or in the Security Trust Deed. (c) Any appropriation under clauses 6.9(a‎7.6(a) or 6.9(b‎(b) overrides any appropriation made by a Transaction Party.

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b13.9(b) applies, all payments made by a Transaction Party under a Transaction Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties under the Transaction Documents; (2) second, towards payment of interest due and payable under the Transaction Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security must be appropriated in the manner provided in that Security. (c) Any appropriation under clauses 6.9(a13.9(a) or 6.9(b13.9(b) overrides any appropriation made by a Transaction Party.

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b) applies, all payments made by a Transaction Party under a Transaction Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties under the Transaction Documents; (2) second, towards payment of interest due and payable under the Transaction Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security Document must be appropriated in the manner provided in that SecuritySecurity Document. (c) Any appropriation under clauses 6.9(a) or 6.9(b) overrides any appropriation made by a Transaction Party.

APPROPRIATION OF PAYMENTS. (a) Except where clause 6.9(b) applies, all payments made by a Transaction Party under a Transaction Document may be appropriated as between principal, interest and other amounts as the Agent determines or, failing any determination, in the following order: (1) first, towards reimbursement of all fees, costs, expenses, charges, damages and indemnity payments due and payable by the Transaction Parties under the Transaction Documents; (2) second, towards payment of interest due and payable under the Transaction Documents; and (3) third, towards repayment or prepayment of the Principal Outstanding. (b) Any money recovered by a Finance Party as a result of the exercise of a Power under a Security must be appropriated in the manner provided in that Security. (c) Any appropriation under clauses 6.9(a) or 6.9(b6.9(b)(b) overrides any appropriation made by a Transaction Party.