Common use of Prepayment Application Clause in Contracts

Prepayment Application. Any prepayment of the Term Loan pursuant to Section 2.2(c) or as a result of the acceleration of maturity of the Term Loan pursuant to Section 2.2(b)(ii) (together with the accompanying Makewhole Amount or Prepayment Premium that is payable pursuant to Section 2.2(e) or Section 2.2(f), as applicable) shall be paid to Lender for application to the Obligations in the following order: (i) first, to due and unpaid Lender Expenses, (ii) second, to accrued and unpaid interest at the Default Rate, if any, (iii) third, without duplication of amounts paid pursuant to clause (ii) above, to accrued and unpaid interest at the non-Default Rate, (iv) fourth, to the Prepayment Premium, if applicable, (v) fifth, to the Makewhole Amount, if applicable, (vi) sixth, to the outstanding principal amount of the Term Loan and (vii) seventh, to any remaining amounts then due and payable under this Agreement and the other Loan Documents.

Appears in 2 contracts

Samples: Loan Agreement, Guaranty and Security Agreement (Amicus Therapeutics Inc)

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Prepayment Application. Any prepayment of the Term Loan Loans pursuant to Section 2.2(c) or as a result of the acceleration of maturity of the Term Loan pursuant to Section 2.2(b)(ii) (together with the accompanying applicable Makewhole Amount or and Prepayment Premium Premium, if any, that is payable pursuant to Section 2.2(e) or and Section 2.2(f), as applicable) shall be paid to Lender Lenders in accordance with their respective Applicable Percentages for application to the Obligations in the following order: (i) first, to due and unpaid Lender Expenses, ; (ii) second, to accrued accrued, unpaid and unpaid uncapitalized interest at the Default RateRate incurred pursuant to Section 2.3(b), if any, ; (iii) third, without duplication of amounts paid pursuant to clause (ii) above, to accrued and unpaid interest at the non-Default Term Loan Rate, ; (iv) fourth, to the Prepayment Premium, if applicable, ; (v) fifth, to the Makewhole Amount, Amount (if applicable, any); (vi) sixth, to the outstanding principal amount of the Term Loan Loans; and (vii) seventh, to any remaining amounts then due and payable under this Agreement and the other Loan Documents.

Appears in 2 contracts

Samples: Loan Agreement (Collegium Pharmaceutical, Inc), Loan Agreement (Collegium Pharmaceutical, Inc)

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Prepayment Application. Any prepayment of the Term Loan Loans pursuant to Section 2.2(c) or as a result of the acceleration of maturity of the Term Loan pursuant to Section 2.2(b)(ii) (together with the accompanying Makewhole Amount or Prepayment Premium that is payable pursuant to Section 2.2(e) or Section 2.2(f), as applicable) shall be paid to Lender for application to the Obligations in the following order: (i) first, to due and unpaid Lender Expenses, (ii) second, to accrued and unpaid interest at the Default Rate, if any, (iii) third, without duplication of amounts paid pursuant to clause (ii) above, to accrued and unpaid interest at the non-Default Rate, (iv) fourth, to the Prepayment Premium, if applicable, (v) fifth, to the Makewhole Amount, if applicable, (vi) sixth, to the outstanding principal amount of the Term Loan being prepaid, and (vii) seventh, in the case of a prepayment of the Term Loans in whole, to any remaining amounts then due and payable under this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Biodelivery Sciences International Inc)

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