Common use of Last Repaid Clause in Contracts

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Documents equals or exceeds the then total outstanding principal amount of the New York Term Notes, the principal amount of the payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages shall at all times equal only the total principal amount of the New York Term Notes. The principal amount of the New York Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Documents exceeds the then total outstanding principal amount of the New York Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Documents against the portion of such Obligations evidenced by any New York Term Note and secured by any New York Mortgage. No Advances made under this Agreement subsequent to any particular New York Advance shall be deemed to be an Advance under the related New York Term Note or secured by the related New York Mortgage.

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York Qualified Term Notes, the principal amount of the payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages shall at all times equal only the total principal amount of the New York Qualified Term Notes. The principal amount of the New York Qualified Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Qualified Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Qualified Term Note and secured by any New York Qualified Mortgage. No Advances made under this Agreement subsequent to any particular New York Qualified Advance shall be deemed to be an Advance under the related New York Qualified Term Note or secured by the related New York Qualified Mortgage.

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York Qualified Term Notes, the principal amount of the payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages shall at all times equal only the total principal amount of the New York Qualified Term Notes. The principal amount of the New York Qualified Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Qualified Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Qualified Term Note and secured by any New York Qualified Mortgage. No Advances made under this Agreement subsequent to any particular New York Qualified Advance shall be deemed to be an Advance under the related New York Qualified Term Note or secured by the related New York Qualified Mortgage.. 

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total 100 outstanding principal amount of the New York Term Notes, the principal amount of the payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages shall at all times equal only the total principal amount of the New York Term Notes. The principal amount of the New York Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Term Note and secured by any New York Mortgage. No Advances made under this Agreement subsequent to any particular New York Advance shall be deemed to be an Advance under the related New York Term Note or secured by the related New York Mortgage.

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York Term Notes, the principal amount of the payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages shall at all times equal only the total principal amount of the New York Term Notes. The principal amount of the New York Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Term Notes and secured by the New York Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Term Note and secured by any New York Mortgage. No Advances made under this Agreement subsequent to any particular New York Advance shall be deemed to be an Advance under the related New York Term Note or secured by the related New York Mortgage.. 100

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York YorkQualified Term Notes, the principal amount of the payment Obligations evidenced by the New York YorkQualified Term Notes and secured by the New York YorkQualified Mortgages shall at all times equal only the total principal amount of the New York YorkQualified Term Notes. The principal amount of the New York YorkQualified Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York YorkQualified Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York YorkQualified Term Notes and secured by the New York YorkQualified Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York YorkQualified Term Note and secured by any New York YorkQualified Mortgage. No Advances made under this Agreement subsequent to any particular New York YorkQualified Advance shall be deemed to be an Advance under the related New York YorkQualified Term Note or secured by the related New York YorkQualified Mortgage.

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York Qualified Term Notes, the principal amount of the Annex A - 86 payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages shall at all times equal only the total principal amount of the New York Qualified Term Notes. The principal amount of the New York Qualified Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Qualified Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages. Notwithstanding the foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Qualified Term Note and secured by any New York Qualified Mortgage. No Advances made under this Agreement subsequent to any particular New York Qualified Advance shall be deemed to be an Advance under the related New York Qualified Term Note or secured by the related New York Qualified Mortgage.. 

Last Repaid. So long as the total outstanding principal amount of the payment Obligations under the Credit Loan Documents equals or exceeds the then total outstanding principal amount of the New York Qualified Term Notes, the principal amount of the payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages shall at all times equal only the total principal amount of the New York Qualified Term Notes. The principal amount of the New York Qualified Term Notes shall be reduced only by the last and final sums that the Borrower repays with respect to the Obligations under the Credit Loan Documents and shall not be reduced by any intervening repayments of such Obligations. So long as the balance of the payment Obligations under the Credit Loan Documents exceeds the then total outstanding principal amount of the New York Qualified Term Notes, any payments and repayments of such Obligations shall not be deemed to be applied against, or to reduce, the portion of such principal payment Obligations evidenced by the New York Qualified Term Notes and secured by the New York Qualified Mortgages. Notwithstanding the 118 foregoing, the Borrower may direct the Administrative Agent to apply payments and repayments of payment Obligations under the Credit Loan Documents against the portion of such Obligations evidenced by any New York Qualified Term Note and secured by any New York Qualified Mortgage. No Advances made under this Agreement subsequent to any particular New York Qualified Advance shall be deemed to be an Advance under the related New York Qualified Term Note or secured by the related New York Qualified Mortgage..