Common use of Normal order of application Clause in Contracts

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following proportions: (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee under the Finance Documents other than those amounts referred to at (ii) and (iii) below (including, but without limitation, all amounts payable by any Borrower under Clauses 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) of this Agreement or by any Borrower or any Security Party under any corresponding or similar provision in any other Finance Document); (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; and (iii) thirdly, in or towards satisfaction of the Loan; (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them), the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application);

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at paragraphs (ii) and (iii) below (including, but without limitation, all amounts payable by any Borrower the Borrowers under Clauses 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Set-off Off or Tax Deduction) of this Agreement or by any Borrower the Borrowers or any Security Party under any corresponding or similar provision in any other Finance Document); (ii) secondly, in or towards satisfaction pro rata of any interest and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; and (iii) thirdly, in or towards satisfaction of the Loan; (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrowers, the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application);Clause; and

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) firstfirstly, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at (ii) and (iii) below (including, but without limitation, all amounts payable by any the Borrower under Clauses 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Set-off Off or Tax Deduction) of this Agreement or by any the Borrower or any Security Party under any corresponding or similar provision in any other Finance Document) other than those amounts referred to at paragraphs (ii) and (iii); (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; andDocuments in respect of the Loan; (iii) thirdly, in or towards satisfaction of the Loan;; and (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrower, the Security Parties and the other Creditor Parties, states in its opinion will either or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 17.1 (Normal order of application);; and

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party the Lender under or by virtue of any Finance Document shall be applied: (a) : FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents (or any of them) in the following order of application and/or proportions: (ia) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Lender under the Finance Documents other than those amounts referred to at (iib) and (iiic) below (including, but without limitation, all amounts payable by any the Borrower under Clauses Clause 19, 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) of this Agreement or by any the Borrower or any other Security Party under any corresponding or similar provision in any other Finance Document); (iib) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties Lender under the Finance Documents; and (iiic) thirdly, in or towards satisfaction of the Loan; (b) ; : SECONDLY: (if at the relevant time an Event of Default or Potential Event of Default has occurred) in retention of an amount equal to any amount not then due and payable under any Finance Document but which the AgentLender, by notice to the Borrowers (or any of them), Borrower and the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application);Clause; and THIRDLY: any surplus shall be paid to the Borrower or to any other person appearing to be entitled to it.

Normal order of application. Except as any Finance Document may otherwise provide, and subject to the Intercreditor Agreement, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction of all fees and expenses then due and payable to the Agent and the Security Trustee under Clauses 21.1 through 21.3; (ii) second, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at paragraphs (ii), (iii), (iv) and (iiiv) below (including, but without limitation, all amounts payable by any the Borrower under Clauses 20 (Fees 21, 22 and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) 23 of this Agreement or by any the Borrower or any other Security Party under any corresponding or similar provision in any other Finance Document); (iiiii) secondlythird, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; and (iiiiv) thirdlyfourth, in or towards satisfaction pro rata of any and all amounts of principal payable to the Loan;Lenders under this Agreement; and (b) SECONDLYSECOND: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the AgentMajority Lenders, by notice to the Borrowers (or any of them)Agent, the Borrower, the other Security Parties and the other Creditor Parties, states state in its their opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph Clause 18.1(a); and (ac) of Clause 18.1 (Normal order of application);THIRD: any surplus shall be paid to the Borrower or to any other person appearing to be entitled to it.

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at paragraphs (ii) and (iii) below (including, but without limitation, all amounts payable by any Borrower the Borrowers’ under Clauses 20 (Fees 21, 22 and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) 23 of this Agreement or by any Borrower the Borrowers or any other Security Party under any corresponding or similar provision in any other Finance Document); (ii) secondlysecond, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; and (iii) thirdlythird, in or towards satisfaction pro rata of any and all amounts of principal payable to the LoanLenders under this Agreement; (b) SECONDLYSECOND: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrower, the other Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph Clause 18.1(a); and (ac) of Clause 18.1 (Normal order of application);THIRD: any surplus shall be paid to the Borrower or to any other person appearing to be entitled to it.

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied:applied:‑ (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: : (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at (ii) and (iii) below (including, but without limitation, all amounts payable by any the Borrower under Clauses 20 (Fees and Expenses)20, 21 (Indemnities) and 22 (No Set-off or Tax Deduction) of this Agreement or by any the Borrower or any Security Party under any corresponding or similar provision in any other Finance Document); ; (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance DocumentsDocuments but shall have failed to pay or deliver to the Creditor Parties at the time of application or distribution under this Clause 17); and and (iii) thirdly, in or towards satisfaction pro rata of the Loan; (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrower, the Security Parties and the other Creditor Parties, states in its reasonable opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application17.1(a);; and

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction of all fees, costs and expenses then due and payable to the Agent, the Security Trustee, the KEXIM Security Trustee and the Note Trustee pursuant to the Finance Documents and the Note Documents; (ii) second, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at paragraphs (iiiii) (iv) and (iiiv) below (including, but without limitation, all amounts payable by any Borrower Security Party under Clauses 20 (Fees 21, 22 and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) 23 of this Agreement or by any Borrower the Borrowers or any other Security Party under any corresponding or similar provision in any other Finance Document); (iiiii) secondlythird, in or towards satisfaction pro rata of any and all amounts of default interest payable to the Creditor Parties under the Finance Documents; (iv) fourth, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; and (iiiv) thirdlyfifth, in or towards satisfaction pro rata of any and all amounts of principal payable to the Loan;Lenders under this Agreement; and (b) SECONDLYSECOND: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice surplus shall be paid to the Borrowers (or to any of them), the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application);person appearing to be entitled to it.

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party the Lender under or by virtue of any Finance Document shall be applied:applied:- (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Lender under the Finance Documents other than those amounts referred to at paragraphs (ii), (iii) and (iiiiv) below (including, but without limitation, all amounts payable by any Borrower the Borrowers under Clauses 19, 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Set-off or Tax Deduction) of this Agreement or by any Borrower the Borrowers or any Security Party under any corresponding or similar provision in any other Finance Document); (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties Lender under the Finance Documents; and; (iii) thirdly, in or towards satisfaction pro rata of the Loan; and (iv) fourthly, in payment to the Lender of amounts then due and payable in respect of any Designated Transactions; (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the AgentLender, by notice to the Borrowers (or any of them), and the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application16.1(a);; and

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied:applied:‑ (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) first, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at (ii) and (iii) below (including, but without limitation, all amounts payable by any Borrower the Borrowers under Clauses 20 (Fees and Expenses)20, 21 (Indemnities) and 22 (No Set-off or Tax Deduction) of this Agreement or by any Borrower the Borrowers or any Security Party under any corresponding or similar provision in any other Finance Document); (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance DocumentsDocuments but shall have failed to pay or deliver to the Creditor Parties at the time of application or distribution under this Clause 17); and (iii) thirdly, in or towards satisfaction pro rata of the Loan; (b) SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrowers, the Security Parties and the other Creditor Parties, states in its reasonable opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (a) of Clause 18.1 (Normal order of application17.1(a);; and

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by any Creditor Party under or by virtue of any Finance Document shall be applied: (a) FIRST: in or towards satisfaction of any amounts then due and payable under the Finance Documents in the following order and proportions: (i) firstfirstly, in or towards satisfaction pro rata of all amounts then due and payable to the Agent and the Security Trustee Creditor Parties under the Finance Documents other than those amounts referred to at (ii) and (iii) below (including, but without limitation, all amounts payable by any Borrower under Clauses 20 (Fees and Expenses), 21 (Indemnities) and 22 (No Setset-off Off or Tax Deduction) of deduction)of this Agreement or by any the Borrower or any Security Party under any corresponding or similar provision in any other Finance Document) other than those amounts referred to at paragraphs (ii) and (iii); (ii) secondly, in or towards satisfaction pro rata of any and all amounts of interest or default interest due and payable to the Creditor Parties under the Finance Documents; andDocuments in respect of the Senior Advance; (iii) thirdly, in or towards satisfaction of the LoanSenior Advance; (biv) fourthly, in or towards satisfaction pro rata of any and all amounts of interest or default interest payable to the Creditor Parties under the Finance Documents in respect of the Junior Advance; and (v) fifthly, in or towards satisfaction of the Junior Advance; and SECONDLY: in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrowers (or any of them)Borrower, the Security Parties and the other Creditor Parties, states in its opinion will either or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this paragraph (aClause 17.1(a) of Clause 18.1 (Normal order of application);; and