Common use of Collections and Distributions to Lenders by Administrative Agent Clause in Contracts

Collections and Distributions to Lenders by Administrative Agent. Except as otherwise provided in this Agreement, all payments of interest, fees, principal and other amounts received by Administrative Agent for the account of Lenders shall be distributed by Administrative Agent to Lenders in accordance with their pro-rata shares of the outstanding Loan Obligations at the time of such distribution (or entirely to Administrative Agent in the case of payments of interest, fees or principal with respect to the Swingline Loan) on the same Business Day when received, unless received after 12:00 noon (Local Time) in which case they shall be so distributed by 12:00 noon (Local Time) on the next Business Day. All amounts received by any Lender on account of the Loan Obligations, including amounts received by way of setoff, shall be paid over promptly to Administrative Agent for distribution to Lenders as provided above in this Section. Such distributions shall be made according to instructions that each Lender may give to Administrative Agent from time to time. Unless there is an Existing Default (in which case the Lenders may apply payments as they determine in their discretion), payments received shall be applied (after application to the Swingline Loan to reduce it to zero), first to reduce any Base Rate Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Eurodollar Loans included in the Aggregate Revolving Loan owing to each Lender.

Collections and Distributions to Lenders by Administrative Agent. Except as otherwise provided in this Agreement, including, without limitation, with respect to the Swingline Loan, all payments of interest, fees, principal and other amounts received by Administrative Agent for the account of Lenders shall be distributed by Administrative Agent to Lenders in accordance with their pro-rata shares of the outstanding Loan Obligations at the time of such distribution (or entirely to Administrative Agent in the case of payments of interest, fees or principal with respect to the Swingline Loan) on the same Business Day when received, unless received after 12:00 noon (Local Time) in which case they shall be so distributed by 12:00 noon (Local Time) on the next Business Day. All amounts received by any Lender on account of the Loan Obligations, including amounts received by way of setoff, shall be paid over promptly to Administrative Agent for distribution to Lenders as provided above in this Section. Such distributions shall be made according to instructions that each Lender may give to Administrative Agent from time to time. Unless there is an Existing Default (in which case the Lenders may apply payments as they determine in their discretion), payments received shall be applied (after application to the Swingline Loan to reduce it to zero), first to reduce any Base Rate Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Eurodollar Loans included in the Aggregate Revolving Loan owing to each Lender.

Collections and Distributions to Lenders by Administrative Agent. Except as otherwise provided in this Agreement, all payments of interest, fees, principal and other amounts received by Administrative Agent for the account of Lenders shall be distributed by Administrative Agent to Lenders in accordance with their pro-rata shares of the outstanding Loan Obligations at the time of such distribution (or entirely to Administrative Agent in the case of payments of interest, fees or principal with respect to the Swingline Loan) on the same Business Day when received, unless received after 12:00 noon (Local Time) in which case they shall be so distributed by 12:00 noon (Local Time) on the next Business Day. All amounts received by any Lender on account of the Loan Obligations, including amounts received by way of setoff, shall be paid over promptly to Administrative Agent for distribution to Lenders as provided above in this Section. Such distributions shall be made according to instructions that each Lender may give to Administrative Agent from time to time. Unless there is an Existing Default (in which case the Lenders may apply payments as they determine in their discretion), and except for mandatory prepayments described in Section 6.4.3 and unless otherwise directed by Borrower, payments received shall be applied (after application to the Swingline Loan to reduce it to zero), first to reduce any Base Rate Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Eurodollar Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Base Rate Loans included in the Aggregate Term Loan owing to each Lender, and then to any Eurodollar Loans included in the Aggregate Term Loan owing to each Lender.

Collections and Distributions to Lenders by Administrative Agent. Except as otherwise provided in this Agreement, all payments of interest, fees, principal and other amounts received by Administrative Agent for the account of Lenders shall be distributed by Administrative Agent to Lenders in accordance with their pro-rata shares of the outstanding Loan Obligations at the time of such distribution (or entirely to Administrative Agent in the case of payments of interest, fees or principal with respect to the Swingline Loan) on the same Business Day when received, unless received after 12:00 noon (Local Time) in which case they shall be so distributed by 12:00 noon (Local Time) on the next Business Day. All amounts received by any Lender on account of the Loan Obligations, including amounts received by way of setoff, shall be paid over promptly to Administrative Agent for distribution to Lenders as provided above in this Section. Such distributions shall be made according to instructions that each Lender may give to Administrative Agent from time to time. Unless there is an Existing Default (in which case the Lenders may apply payments as they determine in their discretion), and except for mandatory prepayments described in Section 6.3.3 and unless otherwise directed by Borrower, payments received shall be applied (after application to the Swingline Loan to reduce it to zero), first to reduce any Base Rate Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Eurodollar LIBOR Loans included in the Aggregate Revolving Loan owing to each Lender.

Collections and Distributions to Lenders by Administrative Agent. Except as otherwise provided in this Agreement, including, without limitation, with respect to the Swingline Loan, all payments of interest, fees, principal and other amounts received by Administrative Agent for the account of Lenders shall be distributed by Administrative Agent to Lenders in accordance with their pro-rata shares of the outstanding Loan Obligations at the time of such distribution (or entirely to Administrative Agent in the case of payments of interest, fees or principal with respect to the Swingline Loan) on the same Business Day when received, unless received after 12:00 noon (Local Time) in which case they shall be so distributed by 12:00 noon (Local Time) on the next Business Day. All amounts received by any Lender on account of the Loan Obligations, including amounts received by way of setoff, shall be paid over promptly to Administrative Agent for distribution to Lenders as provided above in this Section. Such distributions shall be made according to instructions that each Lender may give to Administrative Agent from time to time. Unless there is an Existing Default (in which case the Lenders may apply payments as they determine in their discretion), payments received shall be applied (after application to the Swingline Loan to reduce it to zero), first to reduce any Base Rate Loans included in the Aggregate Revolving Loan owing to each Lender, and then to any Eurodollar LIBOR Loans included in the Aggregate Revolving Loan owing to each Lender.