Common use of Place and Application of Payments and Collections Clause in Contracts

Place and Application of Payments and Collections. All payments of principal, interest, and all other Obligations payable hereunder shall be made to the Lender at its principal office in Okoboji, Iowa no later than 1:00 p.m. (Okoboji time) on the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business Day. All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed or measured by the net income of the Lender). All prepayments (whether voluntary or required) applicable to the Term Note shall be applied to the installments in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein to the contrary notwithstanding, all payments and collections received in respect of the indebtedness evidenced by the Notes shall be applied as follows: (a) first, to the payment of any outstanding costs and expenses incurred by the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereof; (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes or this Agreement; (c) third, to the payment of the principal of the Notes; (d) fourth, to the Lender in accord with the amounts of any other indebtedness, obligations or liabilities of the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers or whoever may be lawfully entitled thereto.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees and all other Obligations obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office at 135 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx (xx at such other place as the Bank may specify in Okoboji, Iowa no later than 1:00 p.m. (Okoboji time) on the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business Daywriting). All such payments shall be made (by wire transfer or otherwise) in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income of the LenderBank). Unless the Parent otherwise directs, principal payments on a Note shall be applied first to the Prime Rate Portion of such Note until payment in full thereof, with any balance applied, subject to the last sentence of this Section 3.1(a), to the LIBOR Portions of such Note in the order in which their Interest Periods expire. All prepayments payments on any Note (whether voluntary or required) applicable to the Term Note shall be applied accompanied by any amount due the Bank under Section 10.5 hereof, but no acceptance of such a payment without requiring payment of amounts due under Section 10.5 shall preclude a later demand by the Bank for any amount due it under Section 10.5 in respect of such payment. Any amount paid or prepaid on the Revolving Credit Note may, subject to all of the installments in their inverse order of maturityterms and conditions hereof, be borrowed, repaid and borrowed again. No amount paid or prepaid on any Term Loans Note may be reborrowed. Anything contained herein to the contrary notwithstandingUnless expressly set forth otherwise herein, all payments and collections received in respect of prepayments on the indebtedness evidenced by the Term Notes shall be applied to the several installments thereof in the direct order of maturity. (b) All payments made by the Borrowers and all proceeds of Collateral shall, upon receipt by the Bank, be applied by the Bank to the Obligations then due and payable. Prior to the occurrence of an Event of Default, except as otherwise specifically provided for herein or directed by the Parent, all payments made by the Parent shall be applied by the Bank against the outstanding Obligations as follows: 7 13 (ai) first, to the payment of any outstanding costs fees, charges and expenses incurred by then due the Lender in protectingBank (provided the Bank has first notified the Borrower of such fee, preserving charge or enforcing rights under this Agreement, expense and the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers Borrower has agreed failed to pay under Section 10.4 hereofthe same as and when required hereunder); (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes or this Agreement; (c) third, to the payment of the principal of the Notes; (d) fourth, to the Lender in accord with the amounts of any other indebtedness, obligations or liabilities of the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers or whoever may be lawfully entitled thereto.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office in Okobojiat 000 Xxxx Xxxxxx Xxxxxx, Iowa no later than 1:00 p.m. Xxxxxxx, Xxxxxxxx (Okoboji time) on or at such other place as the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business DayBank may specify). All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income or gross receipts of the LenderBank). All prepayments Payments received by the Bank after 1:30 p.m. (whether voluntary or requiredChicago time) applicable to shall be deemed received as of the Term opening of business on the next Business Day. Unless the Company otherwise directs, principal payments on the Revolving Credit Note shall be applied first to the installments Domestic Rate Portion of the Revolving Credit Note until payment in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein full thereof, with any balance applied to the contrary notwithstandingLIBOR Portions of the Revolving Credit Note in the order in which their Interest Periods expire. (b) All payments made by the Company and all proceeds of Collateral shall, upon receipt by the Bank, be applied by the Bank to the Obligations then due and payable, with any balance of such proceeds not applied to the Obligations to be held by the Bank as collateral security for the Obligations. Prior to the occurrence of a Default or Event of Default, except as otherwise specifically provided for herein, all payments and collections received in respect of the indebtedness evidenced made by the Notes Company and all proceeds of Collateral shall be applied by the Bank against the outstanding Obligations as follows: (ai) first, to the payment of any outstanding costs fees, charges and expenses incurred by then due the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereofBank; (bii) second, to the payment of any outstanding interest or other fees or amounts charges then due under in respect of the Notes or this AgreementObligations; (ciii) third, to the payment outstanding principal balance of the principal Loans and reimbursement obligations in respect of the Notesdrafts drawn under Letters of Credit; (div) fourth, to be applied to, or held as collateral security for, any remaining unpaid or unsatisfied Obligations under the Lender in accord with Applications until the amounts of any other indebtedness, obligations or liabilities of same are fully secured by the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfiedcash so applied; and (ev) fifthfinally, to the Borrowers Company, by deposit to the general account referenced in Section 1.4(c) hereof. Except as otherwise specifically provided for herein, the Company hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Bank from or whoever on behalf of the Company, and the Company hereby irrevocably agrees that the Bank shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time by the Bank against the Obligations in such manner as the Bank may deem advisable. (c) The Company hereby irrevocably authorizes the Bank to charge any of the Company's deposit accounts maintained with the Bank for the amounts from time to time necessary to pay any then due Obligations; provided that the Company acknowledges and agrees that the Bank shall be lawfully entitled under no obligation to do so and the Bank shall incur no liability to the Company or any other Person for the Bank's failure to do so. Except upon the occurrence and during the continuation of any Event of Default hereunder, the Bank shall not make any such charge without prior notice to the Company unless the Company consents thereto.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office in Okobojiat 000 Xxxx Xxxxxx Xxxxxx, Iowa no later than 1:00 p.m. Xxxxxxx, Xxxxxxxx (Okoboji time) on or at such other place as the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business DayBank may specify). All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income or gross receipts of the LenderBank). All prepayments Payments received by the Bank after 1:30 p.m. (whether voluntary or requiredChicago time) applicable to shall be deemed received as of the Term opening of business on the next Business Day. Unless the Company otherwise directs, principal payments on the Revolving Credit Note shall be applied first to the installments Domestic Rate Portion of the Revolving Credit Note until payment in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein full thereof, with any balance applied to the contrary notwithstandingLIBOR Portions of the Revolving Credit Note in the order in which their Interest Periods expire. (b) All payments made by the Company and all proceeds of Collateral shall, upon receipt by the Bank, be applied by the Bank to the Obligations then due and payable, with any balance of such proceeds not applied to the Obligations to be held by the Bank as collateral security for the Obligations. Prior to the occurrence of a Default or Event of Default, except as otherwise specifically provided for herein, all payments and collections received in respect of the indebtedness evidenced made by the Notes Company and all proceeds of Collateral shall be applied by the Bank against the outstanding Obligations as follows: (ai) first, to the payment of any outstanding costs fees, charges and expenses incurred by then due the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereofBank; (bii) second, to the payment of any outstanding interest or other fees or amounts charges then due under in respect of the Notes or this AgreementObligations; (ciii) third, to the payment outstanding principal balance of the principal Loans and reimbursement obligations in respect of the Notes; (d) fourth, to the Lender in accord with the amounts drafts drawn under Letters of any other indebtedness, obligations or liabilities of the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfiedCredit; and (eiv) fifthfinally, to be applied to, or held as collateral security for, any remaining unpaid or unsatisfied Obligations. Except as otherwise specifically provided for herein, the Borrowers Company hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Bank from or whoever on behalf of the Company, and the Company hereby irrevocably agrees that the Bank shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time by the Bank against the Obligations in such manner as the Bank may deem advisable. (c) The Company hereby irrevocably authorizes the Bank to charge any of the Company's deposit accounts maintained with the Bank for the amounts from time to time necessary to pay any then due Obligations; provided that the Company acknowledges and agrees that the Bank shall be lawfully entitled theretounder no obligation to do so and the Bank shall incur no liability to the Company or any other Person for the Bank's failure to do so.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees and all other Obligations payable hereunder under this Agreement and under the other Finance Documents shall be made to the Lender Administrative Agent at its principal office in Okoboji, Iowa no later than 1:00 p.m. (Okoboji time) at the address set out on the date any signature page of this Agreement (or at such payment is due and payable. Payments received by other place as the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business DayAdministrative Agent may specify). All such payments shall be made in lawful money of the United States of Americacurrency in which such Obligations are denominated, in immediately available funds at the place of payment, without setoff set- off or counterclaim and without reduction for, and free from, any and all present or future taxesTaxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed or measured Excluded Taxes). (b) Any mandatory repayment made by the net income of Borrower pursuant to Section 6.3 (Mandatory Prepayments) shall, upon receipt by the Lender). All prepayments (whether voluntary or required) applicable Administrative Agent, be applied by the Administrative Agent to the Term Note shall be Obligations then due and payable, in accordance with each Lender’s Applicable Percentage, with any balance of such proceeds not applied to the installments in their inverse order Obligations to be held by the Administrative Agent as additional security for the Obligations. The Borrower hereby irrevocably waives the right to direct the application of maturity. No amount paid payments and collections at any time received by the Administrative Agent from or prepaid on Term Loans may be reborrowed. Anything contained herein behalf of the Borrower, and the Borrower hereby irrevocably agrees that the Administrative Agent shall have the continuing exclusive right to the contrary notwithstanding, apply and reapply any and all such payments and collections received in respect of the indebtedness evidenced at any time by the Notes shall be applied as follows: (a) first, to Administrative Agent against the payment of any outstanding costs and expenses incurred by the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereof; (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes or this Agreement;Obligations. (c) third, The Borrower hereby irrevocably authorizes the Administrative Agent to charge any of the Project Accounts for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Administrative Agent shall be under no obligation to do so and the Administrative Agent shall incur no liability to the payment of the principal of the Notes; (d) fourth, to the Lender in accord with the amounts of Borrower or any other indebtedness, obligations or liabilities of Person for the Borrowers owing Administrative Agent’s failure to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers or whoever may be lawfully entitled theretodo so.

Place and Application of Payments and Collections. All payments of principal, interest, and all other Obligations payable hereunder shall be made to the Lender Administrative Agent at its principal office in OkobojiChicago, Iowa Illinois, no later than 1:00 p.m. 11:00 a.m. (Okoboji Des Moines time) on the date any such payment is due and payable. Payments received by the Lender Administrative Agent after 1:00 p.m. 11:00 a.m. shall be deemed received as of the opening of business on the next Business Day. All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any franchise tax and any taxes imposed or measured by the net income of the LenderLenders). Except as otherwise provided in this Agreement, all payments shall be received by the Administrative Agent for the ratable account of the Lenders, and shall be promptly distributed by the Administrative Agent ratably to the Lenders except that payments which pursuant to the terms hereof are for the use and benefit of the Administrative Agent shall be retained by it for its own account and payments received to reimburse a Lender for a cost peculiar to that Lender shall be remitted to it. Unless the Company otherwise directs, principal payments shall be first applied to the Domestic Rate Portion of the Notes until payment in full thereof, with any balance applied to the LIBOR Portions of the Notes in the order in which their Interest Periods expire. All prepayments payments (whether voluntary or required) applicable to the Term Note shall be applied to accompanied by any amount due the installments Lenders under Section 2.9 hereof, but no acceptance of such a payment without requiring payment of amounts due under Section 2.9 shall preclude a later demand by the Lenders for any amount due them under Section 2.9 in their inverse order respect of maturity. No amount paid or prepaid on Term Loans may be reborrowedsuch payment. Anything contained herein to the contrary notwithstanding, all payments and collections received in respect of the indebtedness evidenced by the Notes or the Applications shall be applied remitted to the Administrative Agent and distributed as follows: (a) first, to the payment of any outstanding costs and expenses reasonably incurred by the Lender Agents in protecting, preserving or enforcing rights under this Agreement, the Security DocumentsApplications, or the Notes and in any event including all costs and expenses of a character which the Borrowers Company has agreed to pay under Section 10.4 hereofhereof and which are then due and payable (such funds to be retained by the relevant Agent for its own account unless it has previously been reimbursed for such costs and expenses by the Lenders, in which event such amounts shall be remitted to the Lenders to reimburse them for payments theretofore made to such Agent); (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes, the Applications or this Agreement (other than for principal of the Notes or this Agreementreimbursement of the principal amounts presented and paid under the Letters of Credit) ratably as among the Lenders in accord with the amount of such interest and other fees or amounts owing each; (c) third, to the payment of the principal of the NotesNotes ratably among the Notes and the amounts of all drafts presented and paid under the Letters of Credit; (d) fourth, in the case of an Event of Default or repayment of all Obligations and the termination of the Revolving Credit Commitments to be held by the Administrative Agent up to the Lender full undrawn amount of the Letters of Credit and applied by the Administrative Agent to the payment of any drafts presented and paid thereunder with any surplus distributed as hereinbelow provided; (e) fifth, to the Lenders ratably in accord with the amounts of any other indebtedness, obligations or liabilities of the Borrowers Company owing to it each of them unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (ef) fifthsixth, to the Borrowers Company or whoever may be lawfully entitled thereto.

Place and Application of Payments and Collections. (1) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Credit Documents shall be made to the Lender at its principal office in Okoboji, Iowa no later than 1:00 p.m. (Okoboji time) at the address set out on the date any signature page hereof (or at such payment is due and payable. Payments received by other place as the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business Daymay specify). All such payments shall be made in lawful money of the United States of Americacurrency in which such Obligations are denominated, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income of the Lender). All prepayments . (whether 2) Any voluntary or required) applicable to the Term Note prepayment of a Revolving Loan shall be applied to the installments in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein repay such Revolving Loan to the contrary notwithstandingfull extent thereof and any excess shall be returned to the Borrowers. (3) Any mandatory repayment of Accommodations Outstanding made by the Borrower pursuant to Section 8.3 shall, upon receipt by the Lender, be applied by the Lender to the Obligations then due and payable, in such order and such manner as the Lender determines appropriate. The Borrower hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Lender from or on behalf of the Borrower, and the Borrower hereby irrevocably agrees that the Lender shall have the continuing exclusive right to apply and reapply any and all such payments and collections received in respect of the indebtedness evidenced by the Notes shall be applied as follows: (a) first, to the payment of at any outstanding costs and expenses incurred time by the Lender against the Obligations in protecting, preserving or enforcing rights under this Agreement, such manner as the Security Documents, or Lender determines appropriate. (4) The Borrower hereby irrevocably authorizes the Notes and in Lender to charge any event including all costs and expenses of a character which the Borrowers has agreed Deposit Accounts for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Lender shall be under Section 10.4 hereof; (b) second, no obligation to do so and the Lender shall incur no liability to the payment of any outstanding interest Borrower or other fees or amounts due under the Notes or this Agreement; (c) third, to the payment of the principal of the Notes; (d) fourth, to the Lender in accord with the amounts of any other indebtedness, obligations or liabilities of Person for the Borrowers owing Lender’s failure to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers or whoever may be lawfully entitled theretodo so.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees, and all other Obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office in Okobojiat 000 Xxxx Xxxxxx Xxxxxx, Iowa no later than 1:00 p.m. Xxxxxxx, Xxxxxxxx (Okoboji time) on or at such other place as the date any such payment is due and payableBank may specify). Payments received by the Lender Bank after 1:00 2:00 p.m. (Chicago time) shall be deemed received as of the opening of business on the next Business Day. All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income of the LenderBank). All prepayments (whether voluntary or required) applicable to Unless the Term Note Borrowers otherwise direct, principal payments shall be applied first to the installments applicable Base Rate Portion until payment in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein full thereof, with any balance applied to the contrary notwithstandingapplicable LIBOR Portions in the order in which their Interest Periods expire. (b) All payments made by the Borrowers on the Obligations, and all proceeds of Collateral received by the Bank, shall in each case, upon receipt by the Bank, be applied by the Bank to the Obligations then due and payable, with any balance of such proceeds not applied to the Obligations to be held by the Bank as collateral security for the Obligations except as otherwise set forth herein. Prior to the occurrence of a Default or Event of Default, except as otherwise specifically provided for herein or directed by the Borrowers, all payments and collections received in respect of the indebtedness evidenced made by the Notes Borrowers on the Obligations, and all proceeds of Collateral received by the Bank, shall in each case be applied by the Bank against the outstanding Obligations as follows: (ai) first, to the payment of any outstanding costs fees, charges, and expenses incurred by then due the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereofBank; (bii) second, to the payment of any outstanding interest or other fees or amounts charges then due under in respect of the Notes or this AgreementObligations; (ciii) third, to the payment any scheduled principal installment then due in respect of the principal of the NotesTerm Loan; (div) fourth, to the Lender in accord with the amounts of any other indebtedness, obligations or liabilities outstanding principal balance of the Borrowers owing to it unless Revolving Loans and until all such indebtedness, reimbursement obligations and liabilities have been fully paid and satisfiedin respect of amounts drawn under Letters of Credit; and (ev) fifthfinally, to be made available to the Borrowers for working capital purposes or invested by the Borrowers as permitted by Section 8.9 hereof. Except as otherwise specifically provided for herein, the Borrowers hereby irrevocably waive the right to direct the application of payments and collections at any time received by the Bank from or on behalf of the Borrowers, and the Borrowers hereby irrevocably agree that the Bank shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time by the Bank against the Obligations in such manner as the Bank may deem advisable; provided, however, if no Default or Event of Default has occurred and is continuing, the Bank shall apply any and all such payments and collections received by the Bank against the Obligations in the manner directed by the Borrowers. (c) The Borrowers hereby irrevocably authorize the Bank to charge any Borrower’s deposit accounts maintained with the Bank for the amounts from time to time necessary to pay any then due Obligations; provided that the Borrowers acknowledge and agree that the Bank shall be under no obligation to do so and the Bank shall incur no liability to the Borrowers or whoever may be lawfully entitled theretoany other Person for the Bank’s failure to do so.

Place and Application of Payments and Collections. (1) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office at the address set out in Okoboji, Iowa no later than 1:00 p.m. Section 10.8 hereof (Okoboji time) on or at such other place as the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business DayBank may specify). All such payments shall be made in lawful money of the United States of Americacurrency in which such Obligations are denominated, in immediately available funds at the place of payment, without setoff set off, compensation or counterclaim and without reduction for, and free from, any and all present or future taxesTaxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof Governmental Authority (but excluding any taxes Taxes imposed on or measured by the net income of the LenderBank). . (2) All prepayments (whether voluntary or required) applicable payments made by the Borrower and all proceeds of Collateral shall, upon receipt by the Bank, be applied by the Bank to the Term Note Obligations then due and payable, with any balance of such proceeds not applied to the Obligations to be held by the Bank as collateral security for the Obligations, which amounts shall bear interest at the Bank’s prevailing rate for deposit accounts. Prior to the occurrence of a Default or an Event of Default which is continuing, except as otherwise specifically provided for herein or directed by the Borrower, all payments made by the Borrower and all proceeds of Collateral shall be applied to the installments in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein to the contrary notwithstanding, all payments and collections received in respect of the indebtedness evidenced by the Notes shall be applied Bank against the outstanding Obligations as follows: (a) first, to the payment of any outstanding costs fees, charges and expenses incurred by then due to the Lender in protecting, preserving Bank or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereofits legal counsel; (b) second, to the payment of any outstanding interest or other fees or amounts charges then due under in respect of the Notes or this AgreementObligations; (c) third, to the payment outstanding principal balance of the principal Revolving Credit Loans, reimbursement obligations in respect of claims under Letters of Credit and satisfaction of all Obligations under the Notes;MasterCard Agreement and Forward Contracts, all in such proportions as the Bank may determine; and (d) fourthfinally, to be applied to, or held as collateral security for, any remaining unpaid or unsatisfied Obligations. Except as otherwise specifically provided for herein, the Lender Borrower hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Bank from or on behalf of the Borrower, and the Borrower hereby irrevocably agrees that the Bank shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time by the Bank against the Obligations in accord with such manner as the Bank may deem advisable. (3) The Borrower hereby irrevocably authorizes the Bank to charge any of the Accounts for the amounts of from time to time necessary to pay any then due Obligations; provided that the Borrower acknowledges and agrees that the Bank shall be under no obligation to do so and the Bank shall incur no liability to the Borrower or any other indebtednessPerson for the Bank’s failure to do so, obligations or liabilities except in the case of the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to gross or intentional fault of the Borrowers or whoever may be lawfully entitled theretoBank.

Place and Application of Payments and Collections. All payments of principal, interest, and all other Obligations payable hereunder shall be made to the Lender at its principal office in OkobojiChicago, Iowa Illinois, no later than 1:00 p.m. (Okoboji Des Moines time) on the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business Day. All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed or measured by the net income of the Lender). Unless the Company otherwise directs, principal payments shall be first applied to the Domestic Rate Portion of the Note until payment in full thereof, with any balance applied to the LIBOR Rate Portions of the Note in the order in which their Interest Periods expire. All prepayments payments (whether voluntary or required) applicable to the Term Note shall be applied to accompanied by any amount due the installments Lender under Section 2.9 hereof, but no acceptance of such a payment without requiring payment of amounts due under Section 2.9 shall preclude a later demand by the Lender for any amount due them under Section 2.9 in their inverse order respect of maturity. No amount paid or prepaid on Term Loans may be reborrowedsuch payment. Anything contained herein to the contrary notwithstanding, all payments and collections received in respect of the indebtedness evidenced by the Notes Note shall be applied as follows: (a) first, to the payment of any outstanding costs and expenses reasonably incurred by the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes Note and in any event including all costs and expenses of a character which the Borrowers Company has agreed to pay under Section 10.4 9.4 hereof; (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes Note or this Agreement; (c) third, to the payment of the principal of the NotesNote; (d) fourthforth, to the Lender in accord with the amounts of any other indebtedness, obligations or liabilities of the Borrowers Company owing to it the Lender unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers Company or whoever may be lawfully entitled thereto.

Place and Application of Payments and Collections. (1) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Credit Documents shall be made to the Lender at its principal office in Okoboji, Iowa no later than 1:00 p.m. (Okoboji time) at the address set out on the date any signature page hereof (or at such payment is due and payable. Payments received by other place as the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business Daymay specify). All such payments shall be made in lawful money of the United States of Americacurrency in which such Obligations are denominated, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income of the Lender). All prepayments . (whether voluntary or required2) applicable Any mandatory repayment of Accommodations Outstanding made by any Borrower pursuant to Section 9.3 shall, upon receipt by the Lender, be applied by the Lender to the Term Note Obligations then due and payable, in such order and such manner as the Lender determines appropriate. Each of the Borrowers hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Lender from or on behalf of any Borrower, and the Borrowers hereby irrevocably agree that the Lender shall be applied have the continuing exclusive right to the installments in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein to the contrary notwithstanding, apply and reapply any and all such payments and collections received in respect of the indebtedness evidenced by the Notes shall be applied as follows: (a) first, to the payment of at any outstanding costs and expenses incurred time by the Lender against the Obligations in protectingsuch manner as the Lender determines appropriate. (3) The Borrowers hereby irrevocably authorize the Lender to charge any of the Deposit Accounts for the amounts from time to time necessary to pay any then due Obligations, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereof; (b) second, to the payment of any outstanding interest or other fees or amounts due under the Notes or this Agreement; (c) third, to the payment of the principal of the Notes; (d) fourth, to acknowledge and agree that the Lender in accord with shall be under no obligation to do so and the amounts of Lender shall incur no liability to any Borrower or any other indebtedness, obligations or liabilities of Person for the Borrowers owing Lender’s failure to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfied; and (e) fifth, to the Borrowers or whoever may be lawfully entitled theretodo so.

Place and Application of Payments and Collections. (a) All payments of principal, interest, fees and all other Obligations payable hereunder and under the other Loan Documents shall be made to the Lender Bank at its principal office in Okobojiat 111 Xxxx Xxxxxx Xxxxxx, Iowa no later than 1:00 p.m. Xxxxxxx, Xxxxxxxx (Okoboji time) on xx at such other place as the date any such payment is due and payable. Payments received by the Lender after 1:00 p.m. shall be deemed received as of the opening of business on the next Business DayBank may specify). All such payments shall be made in lawful money of the United States of America, in immediately available funds at the place of payment, without setoff set-off or counterclaim and without reduction for, and free from, any and all present or future taxes, levies, imposts, duties, fees, charges, deductions, withholdings, restrictions or conditions of any nature imposed by any government or any political subdivision or taxing authority thereof (but excluding any taxes imposed on or measured by the net income or gross receipts of the LenderBank). All prepayments Payments received by the Bank after 1:30 p.m. (whether voluntary or requiredChicago time) applicable to shall be deemed received as of the Term opening of business on the next Business Day. Unless the Company otherwise directs, principal payments on the Revolving Credit Note shall be applied first to the installments Domestic Rate Portion of the Revolving Credit Note until payment in their inverse order of maturity. No amount paid or prepaid on Term Loans may be reborrowed. Anything contained herein full thereof, with any balance applied to the contrary notwithstandingLIBOR Portions of the Revolving Credit Note in the order in which their Interest Periods expire. Notwithstanding the foregoing, if and so long as no Default or Event of Default has occurred and is continuing, if and to the extent Section 3.8(b) hereof would result in payment on any LIBOR Portion prior to the end of its Interest Period, the Company may direct that such payment be held in a cash collateral account maintained by the Company with the Bank pursuant to agreements in form, scope and substance reasonably satisfactory to the Bank (the "Cash Collateral Account") and not applied to any LIBOR Portion until the earlier of (i) the last day of the Interest Period then applicable to such LIBOR Portion or (ii) the occurrence of any Default or Event of Default. The Company hereby grants to the Bank a lien on the Cash (b) All payments made by the Company and all proceeds of Collateral shall, upon receipt by the Bank, be applied by the Bank to the Obligations then due and payable, with any balance of such proceeds not applied to the Obligations to be held by the Bank as collateral security for the Obligations. Prior to the occurrence of a Default or Event of Default, except as otherwise specifically provided for herein, all payments and collections received in respect of the indebtedness evidenced made by the Notes Company and all proceeds of Collateral shall be applied by the Bank against the outstanding Obligations as follows: (ai) first, to the payment of any outstanding costs fees, charges and expenses incurred by then due the Lender in protecting, preserving or enforcing rights under this Agreement, the Security Documents, or the Notes and in any event including all costs and expenses of a character which the Borrowers has agreed to pay under Section 10.4 hereofBank; (bii) second, to the payment of any outstanding interest or other fees or amounts charges then due under in respect of the Notes or this AgreementObligations; (ciii) third, to the payment outstanding principal balance of the principal Revolving Credit Loans and reimbursement obligations in respect of the Notes; (d) fourth, to the Lender in accord with the amounts drafts drawn under Letters of any other indebtedness, obligations or liabilities of the Borrowers owing to it unless and until all such indebtedness, obligations and liabilities have been fully paid and satisfiedCredit; and (eiv) fifthfinally, to be applied to, or held as collateral security for, any remaining unpaid or unsatisfied Obligations. Except as otherwise specifically provided for herein, the Borrowers Company hereby irrevocably waives the right to direct the application of payments and collections at any time received by the Bank from or whoever on behalf of the Company, and the Company hereby irrevocably agrees that the Bank shall have the continuing exclusive right to apply and reapply any and all such payments and collections received at any time by the Bank against the Obligations in such manner as the Bank may deem advisable. (c) The Company hereby irrevocably authorizes the Bank to charge any of the Company's deposit accounts maintained with the Bank for the amounts from time to time necessary to pay any then due Obligations; provided that the Company acknowledges and agrees that the Bank shall be lawfully entitled theretounder no obligation to do so and the Bank shall incur no liability to the Company or any other Person for the Bank's failure to do so.