Common use of CBC PRIORITY OF PAYMENTS Clause in Contracts

CBC PRIORITY OF PAYMENTS. On each CBC Payment Date prior to the service of a CBC Acceleration Notice, the CBC will apply or reserve (in respect of the immediately following CBC Payment Period (which, for the avoidance of doubt, in this priority of payments commences on such CBC Payment Date)), as the case may be, the Interest Available Amount and the Principal Available Amount (less any amounts payable to third parties incurred by the CBC in its ordinary course of its business, which may be paid on each day by the CBC) in the following order of priority (the "CBC Priority of Payments"), in each case only if and to the extent that payments or provisions of a higher priority have been made in full:

CBC PRIORITY OF PAYMENTS. ‌ On each CBC Payment Date prior to the service of a CBC Acceleration Notice, the CBC will apply or reserve (in respect of the immediately following CBC Payment Period (which, for the avoidance of doubt, in this priority of payments commences on such CBC Payment Date)), as the case may be, the Interest Available Amount and the Principal Available Amount (less any amounts payable to third parties incurred by the CBC in its ordinary course of its business, which may be paid on each day by the CBC) in the following order of priority (the "CBC Priority of Payments"), in each case only if and to the extent that payments or provisions of a higher priority have been made in full: