Lender Notification; Payment Application Clause Samples

Lender Notification; Payment Application. The Administrative Agent will promptly advise each Lender of any notice of prepayment it receives from the Borrower, and in the case of any partial prepayment, such prepayment shall be applied to the remaining amortization payments on the relevant Loans (i) in the case of voluntary prepayments pursuant to Section 2.8(a), pro rata and (ii) in the case of mandatory prepayments pursuant to Section 2.8(b), in the inverse order of maturity.