Common use of Crediting of Payments and Proceeds Clause in Contracts

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documents, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Construction Loan Term Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documents, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Term Notes, then to any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Loan Term Notes, in that order.

Crediting of Payments and Proceeds. In the event that the any Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be first applied first to all Administrative Agent's fees and expenses then due and payable, then to all other expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsBorrowers hereunder, then to all indemnity obligations then due and payable by the Borrower Borrowers hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment Facility Fee and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to the principal amount of the Notes (pro rata in accordance with all amounts due), and any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2Article VII, all payments received by the Lenders upon the Construction Loan Notes Loans and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied applied: (a) first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documents, (b) then to all indemnity obligations then due and payable by the Borrower hereunderhereunder and under the other Loan Documents, (c) then to all Administrative Agent's ’s fees then due and payable, (d) then to all commitment facility and other fees and commissions then due and payable, (e) then pro rata to accrued and unpaid interest on the Construction Loan Notes, then to any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) Loans (pro rata in accordance with all such amounts due), and (f) then to the principal amount of the Construction Loan Notes, Loans (pro rata in that orderaccordance with all such amounts due).

Crediting of Payments and Proceeds. In the event that the Borrower Borrowers shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsBorrowers hereunder, then to all indemnity obligations then due and payable by the Borrower Borrowers hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Revolving Credit Notes and the Term Loan Notes, then to any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Revolving Credit Notes and the Term Loan NotesNotes (pro rata in accordance with all such amounts due), in that order.

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documentsthis Agreement, then to all indemnity obligations then due and payable by the Borrower hereunderunder this Agreement, then to all Administrative Agent's fees then due and payablepayable by Borrower under this Agreement, then to all commitment and other fees and commissions then due and payablepayable by Borrower under this Agreement, then to accrued and unpaid interest on the Construction Loan Notes, then to and any termination payments due from Borrower in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documentsthis Agreement, then second, to all indemnity obligations then due and payable by the Borrower hereunderunder this Agreement, then and third, to all Administrative Agent's fees then due and payablefees, then to all commitment and other fees and commissions then due and payablepayable by Borrower under this Agreement, then to accrued and unpaid interest on the Construction Loan Notes, then to any termination payments due from Borrower in respect of a Hedging Agreement with any Lender or and the Administrative Agent principal amount of the Notes (which all such Hedging Agreement is permitted or required hereunder) (pro rata amounts to be allocated PRO RATA in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the Borrower Credit Parties shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, then during the continuance of any such Event of Default all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsCredit Parties hereunder, then to all indemnity obligations then due and payable by the Borrower Credit Parties hereunder, then to all Administrative Agent's fees Fees payable to the Agent and the Lenders then due and payable, then to all commitment facility and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to Notes and any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of outstanding under the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In Unless otherwise provided in the Security Agreement, in the event that the any Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all Administrative Agent's fees and expenses then due and payable, then to all other expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsBorrowers hereunder, then to all indemnity obligations then due and payable by the Borrower Borrowers hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to Notes and any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata PRO RATA in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the any Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be first applied first to all Administrative Agent's fees and expenses then due and payable, then to all other expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsBorrowers hereunder, then to all indemnity obligations then due and payable by the Borrower Borrowers hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to Notes and any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata in accordance with all such amounts due), and then to the principal amount of the Construction Loan NotesNotes (pro rata in accordance with all amounts due), in that order.

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan Documentsthis Agreement, then to all indemnity obligations then due and payable by the Borrower hereunderunder this Agreement, then to all Administrative Agent's fees then due and payablepayable by Borrower under this Agreement, then to all commitment and other fees and commissions then due and payablepayable by Borrower under this Agreement, then to accrued and unpaid interest on the Construction Loan Notes, then to and any termination payments due from Borrower in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata PRO RATA in accordance with all such amounts due), and then to the principal amount of the Construction Loan Notes, in that order.

Crediting of Payments and Proceeds. In the event that the Borrower Credit Parties shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, then during the continuance of any such Event of Default all payments received by the Lenders upon the Construction Loan Notes and the other Obligations and all net proceeds from the enforcement of the Obligations obligations shall be applied first to all expenses then due and payable by the Borrower hereunder and under the other Loan DocumentsCredit Parties hereunder, then to all indemnity obligations then due and payable by the Borrower Credit Parties hereunder, then to all Administrative Agent's fees Fees payable to the Agent and the Lenders then due and payable, then to all commitment facility and other fees and commissions then due and payable, then to accrued and unpaid interest on the Construction Loan Notes, then to Notes and any termination payments due in respect of a Hedging Agreement with any Lender or the Administrative Agent (which such Hedging Agreement is permitted or required hereunder) (pro rata PRO RATA in accordance with all such amounts due), and then to the principal amount of outstanding under the Construction Loan Notes, in that order.