Common use of IMPUTATION OF PAYMENTS Clause in Contracts

IMPUTATION OF PAYMENTS. 8.1. In accordance with art. 1506 paragraph (1) of the Civil Code, the Lender and the Borrower agree that the payments made by the Borrower shall be imputed by the Lender in the following order: other Loan – related costs, penalty interests, commissions, statutory interests, borrowed capital. 8.2. If the Borrower has concluded other Agreements with the Lender, the Lender shais irrevocably authorized by the Borrower to impute the payments as per the order of debts seniority.

IMPUTATION OF PAYMENTS. 8.1. In accordance with art. 1506 paragraph (1) of the Civil Code, the Lender and the Borrower agree that the payments made by the Borrower shall be imputed by the Lender in the following order: other Loan – related costs, penalty interests, commissions, statutory interests, borrowed capital. 8.2. If the Borrower has concluded other Agreements with the Lender, the Lender shais irrevocably authorized by the Borrower to impute the payments as per the order of debts seniority.