General application of moneys Sample Clauses

General application of moneys. The Borrower, subject to Clause 11.10, irrevocably authorises the Lender to apply all sums which the Lender may receive: 11.9.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 11.9.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation; or 11.9.3 by way of transfer of any sum from either of the Accounts; or 11.9.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, in such manner as the Lender may determine.
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Agent and the Security Trustee to apply all sums which either of them may receive: 8.12.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 8.12.2 by way of payment of any sum in respect of the Insurances, Earnings, or Requisition Compensation; or 8.12.3 otherwise arising under or in connection with any Security Document, in accordance with the terms of the Intercreditor Deed.
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Revenue or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all fees, liabilities and expenses of the Facility Security Trustee which are outstanding under a Facility Document; (ii) secondly, in or towards payment on a pro rata and pari passu basis of all fees, liabilities and expenses of the Facility Agent and the GIEK Agent which are outstanding under a Facility Document; (iii) thirdly in or towards payment on a pari passu and pro rata basis to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding the Hedging Secured Obligations); (iv) fourthly in or towards payment on a pari passu and pro rata basis to the Hedging Providers of an amount equal to the Hedging Secured Obligations; (v) the balance, if any, shall be remitted to the Borrower.
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General application of moneys. Whilst an Event of Default is continuing unremedied and unwaived the Borrower irrevocably authorises the Agent and the Security Agent to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of a Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Charter Rights or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Security Document, in accordance with Clause 3.4.3 or Clause 3.4.4 (if relevant) or otherwise in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows:- (i) first in payment of all outstanding fees and expenses of the Agent and the Security Agent; (ii) secondly in or towards payment of all outstanding interest hereunder; (iii) thirdly in or towards payment of all outstanding principal hereunder; (iv) fourthly in or towards payment of all other Indebtedness hereunder; (v) fifthly the balance, if any, shall be remitted to the Borrower or whoever may be entitled thereto.
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General application of moneys. Each Borrower, subject to Clause 10.12 (Application of moneys on mandatory prepayment), irrevocably authorises the Agent and the Security Agent and shall procure that (a) the Collateral Owner shall (where relevant) irrevocably authorise the Agent and the Security Agent (subject to the prior rights of ABN AMRO Bank N.V. as lender under the Zeus Loan Agreement) and (b) the Tasman Collateral Owners shall (where relevant) irrevocably authorise the Agent and the Security Agent (subject to the prior rights of the Tasman Finance Parties under the Collateral Loan Agreement) to apply all sums which either of them may receive: 10.11.1 pursuant to a sale or other disposition of its Vessel (other than a Tasman Collateral Vessel) or any right, title or interest in its Vessel (other than a Tasman Collateral Vessel); or 10.11.2 by way of payment of any sum in respect of the Insurances, Earnings, Charters, Requisition Compensation or, as the case may be, Initial Charter of its Vessel; or 10.11.3 by way of transfer of any sum from either of the Accounts; or 10.11.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, firstly in or towards payment of expenses and all sums other than principal or interest which may be due to the Lenders under the Finance Documents, secondly in or towards payment of any default interest, thirdly in or towards payment of any arrears of interest due in respect of the Loan and fourthly in or towards repayment of the Loan.”;
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances (but subject always to clause 23 of the Co-ordination Deed}, Earnings or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all outstanding fees and expenses of the Facility Agent, the GIEK Agent and the Facility Security Trustee; (ii) secondly in or towards payment on a pari passu and pro rata basis (a) to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding any Hedging Secured Obligations), and (b) to the Hedging Providers, of an amount equal to the Hedging Secured Obligations; and (iii) the balance, if any, shall be remitted to the Charterer, the Borrower or whoever may be entitled thereto pursuant to the Co-ordination Deed.
Sample 1
General application of moneys. Each Borrower, subject to Clause 12.12, irrevocably authorises the Lender to apply all sums which the Lender may receive: 12.11.1 pursuant to a sale or other disposition of its Vessel or any right, title or interest in its Vessel; or 12.11.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation of its Vessel; or 12.11.3 by way of transfer of any sum from any of the Accounts; or 12.11.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, in the following manner: FIRST: in or towards satisfaction of any amounts as are then accrued due and payable under the Finance Documents (or any of them) or are then due and payable by virtue of payment demanded under the Finance Documents (or any of them) in such order of application as the Lender shall think fit; SECONDLY: at the option of the Lender (i) in retention of an amount equal to any amounts which are not then accrued due and payable under the Finance Documents (or any of them) or are not then due and payable by virtue of payment demanded under the Finance Documents (or any of them) but which (in the sole and absolute opinion of the Lender) will or may become due and payable in the future and, upon the same becoming due and payable, in or towards satisfaction thereof in accordance with the foregoing provisions of this Clause 12.11; and THIRDLY: the surplus (if any) shall be paid to the Borrowers or to whomsoever else may be entitled thereto.
Sample 1
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General application of moneys. (Corporate Guarantees) To the extent permitted by applicable law, whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Agent and the Agent agrees to apply all sums which it may receive under or in connection with either Corporate Guarantee, in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows: 10.3.1 first in payment of all outstanding fees and expenses of the Agent; 10.3.2 secondly in or towards payment of all outstanding interest under the relevant Tranche; 10.3.3 thirdly in or towards payment of all outstanding principal under the relevant Tranche; 10.3.4 fourthly the balance, if any, shall be remitted to the relevant Guarantor or whoever may be entitled thereto.
Sample 1
General application of moneys. Whilst an Event of Default is continuing unremedied and unwaived the Borrower irrevocably authorises the Agent and the Security Agent to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Finance Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows:- (i) first in payment of all outstanding fees and expenses of the Agent and the Security Agent; (ii) secondly in or towards payment of all outstanding interest hereunder; (iii) thirdly in or towards payment of all outstanding principal hereunder; (iv) fourthly in or towards payment of all other Indebtedness (other than Master Agreement Liabilities) that have fallen due in accordance with the terms of this Agreement hereunder; (v) fifthly in or towards payment of any Master Agreement Liabilities; and (vi) sixthly the balance, if any, shall be remitted to the Borrower or whoever may be entitled thereto.
Sample 1

Related to General application of moneys

  • Application of Moneys (a) Any moneys received by the Trustee for the benefit of Bondholders, by any receiver or by any Bondholder pursuant to any right given or action taken under the provisions of this Article XI, after payment of the costs and expenses of the proceedings resulting in the collection of such moneys and of the fees, expenses, liabilities and advances incurred or made by the Trustee (including without limitation reasonable fees and reasonable expenses of its attorneys), shall be deposited in the Revenue Fund and all moneys so deposited in the Revenue Fund during the continuance of an Event of Default shall be applied (i) first, to the payment to the persons entitled thereto of all installments of interest then due on the Bonds, with interest on overdue installments, if lawful, at the rate per annum borne by the Bonds, as the case may be, in the order of maturity of the installments of such interest (if the amount available for such interest installments shall not be sufficient to pay in full any particular installment of interest, then to the payment ratably, according to the amounts due on such installment), and if the amount available for such interest shall not be sufficient to make payment thereof, then to the payment thereof ratably according to the respective aggregate amounts due and (ii) second, to the payment to the persons entitled thereto of the unpaid principal, as applicable, of any of the Bonds which shall have become due with interest on such Bonds at their respective rate from the respective dates upon which they became due (if the amount available for such unpaid principal and interest shall not be sufficient to pay in full Bonds due on any particular date, together with such interest, then to the payment ratably, according to the amount of principal and interest due on such date, in each case to the persons entitled thereto, without any discrimination or privilege among Holders of Bonds), and, if the amount available for such principal and interest shall not be sufficient to make full payment thereof, then to the payment thereof ratably according to the respective aggregate amounts due. (b) Whenever moneys are to be applied pursuant to the provisions of this Section 11.10, such moneys shall be applied at such times, and from time to time, as the Trustee shall determine, having due regard to the amount of such moneys available for application and the likelihood of additional moneys becoming available for such application in the future. Whenever the Trustee shall apply such funds, it shall fix the date (which shall be an Interest Payment Date unless it shall deem another date more suitable) upon which such application is to be made and upon such date interest on the amounts to be paid on such date shall cease to accrue. The Trustee shall give notice of the deposit with it of any such moneys and of the fixing of any such date by Mail to all Bondholders and shall not be required to make payment to any Bondholder until such Bonds shall be presented to the Trustee for appropriate endorsement or for cancellation if fully paid.

  • Application of Monies In the event that, during the continuance of any Default, the Administrative Agent or any Bank, as the case may be, receives any monies in connection with the enforcement of rights under the Loan Documents, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent and the Banks for or in respect of all costs, expenses, disbursements, and losses that shall have been incurred or sustained by the Administrative Agent and the Banks in connection with the collection of such monies by the Administrative Agent or any such Banks, for the exercise, protection, or enforcement by the Administrative Agent or any such Banks of all or any of the rights, remedies, powers, and privileges of the Administrative Agent or any such Banks under this Credit Agreement or any of the other Loan Documents, or in support of any provision of adequate indemnity to the Administrative Agent or any such Banks against any taxes or Liens that by Government Mandate shall have, or may have, priority over the rights of the Administrative Agent or any such Banks to such monies; (b) Second, to all other Obligations in such order or preference as the Majority Banks may determine; provided, however, that distributions among Obligations owing to the Banks and the Administrative Agent with respect to each type of Obligation such as interest, principal, fees, and expenses, shall be made among the Banks and the Administrative Agent pro rata according to the respective amounts thereof; and provided, further, that the Administrative Agent may in its discretion make proper allowance to take into account any Obligations not then due and payable; and (c) Third, the excess, if any, shall be returned to the applicable Borrower or to such other Persons as are entitled thereto.

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • Application of Moneys Received upon Sale Any moneys collected by the Trustee upon any sale made either under the power of sale given by this Agreement or otherwise for the enforcement of this Agreement shall be applied as provided in Section 4.02.

  • Application of Money Collected Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

  • Collection of Money Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall apply all such money received by it as provided in this Indenture. Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Indenture Trustee may take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any right to proceed thereafter as provided in Article V.

  • General Application The rules set forth below in this Article VI shall apply for the purposes of determining each Member’s allocable share of the items of income, gain, loss and expense of the Company comprising Net Income or Net Loss for each Fiscal Year, determining special allocations of other items of income, gain, loss and expense, and adjusting the balance of each Member’s Capital Account to reflect the aforementioned general and special allocations. For each Fiscal Year, the special allocations in Section 6.03 hereof shall be made immediately prior to the general allocations of Section 6.02 hereof.

  • Collection of Monies Except as otherwise expressly provided in this Agreement, the Trustee may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee pursuant to this Agreement. The Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall subsequently receive any such amount, it may withdraw such request.

  • Retention of Money All moneys received by Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent required by applicable law) and Trustee shall be under no liability for interest on any moneys received by Trustee hereunder.

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