Repayment sequence Clause Samples

Repayment sequence. 4.6.1. All sums received by the Agent under this Agreement and all other related documents shall be applied in the following order of priority: 4.6.1. a first, to all expenses and fees payable to or incurred by the Agent under this Agreement, the Note and all other related documents, and which are not reimbursed or paid by the Borrower or any Bank (including the agency fee payable to the Agent); 4.6.1. b then to all outstanding fees and interests (including penalties or default interests payable at the Default Rate) payable by the Borrower to the Agent and the Banks under this Agreement; and 4.6.1. c then to the distributions by the Agent to each Bank pursuant to the provisions of this Agreement (or in the absence of an express agreement, at the discretion of the Agent), in accordance with the ratio of each Bank's outstanding Loan under the Facility to the sum of all the Banks' outstanding Loans under the Facility (the “Risk Sharing Ratio”). 4.6.2. Unless otherwise provided for in this Agreement, the Agent shall forward to the Banks all sums received from the Borrower/Guarantor and payable to the Banks, upon its actual receipt of such sums, for the Banks to apply towards the indebtedness due from the Borrower to the Banks in the order of priority prescribed by this Agreement or laws and regulations. In the event that the sums actually received by the Agent are insufficient to pay all sums in a specific category to the relevant Banks in the same order of priority, the Agent shall distribute such sums to each Bank on a pro-rata basis in accordance with the Risk Sharing Ratio.

Repayment sequence. If the fund repaid by the borrower is less than the total amount due on the day agreed in the contract, the fund shall be arranged in the following sequence: I. To pay the expense, compensation, damages and breach penalty payable as required by the contract; II. To pay the penalty interest and compound interest payable; III. To pay the interest payable; IV. To pay the principal payable. The fund shall be paid according to the sequence of relevant funds if the amount paid by the borrower can not pay off the total fund of the same sequence.

Repayment sequence. 12.6.1 The borrower’s repayments, unless otherwise agreed by both parties, will be paid in the following order: 12.6.1.1 There are several due debts between the borrower and the lender, and the borrower’s repayment is not enough to pay off all due debts. For debts, the debts to be paid off by the borrower and the order of offsetting them shall be determined by the lender; 12.6.1.2 If the lender exercises the right of offset against the borrower in accordance with the law or the contract, the debt to be offset and the order of offset shall be determined by the lender; when the lender exercises the right of subrogation in accordance with the law, the sub-debtor shall pay the lender Debts paid off and the order of repayment shall be determined by the lender. 12.6.2 When the borrower’s payment is insufficient to repay the entire debt, the lender has the right to decide the order of repayment. Unless the lender decides otherwise, repayment shall be in the following order: (1) Various expenses stipulated in this contract that should be borne by the borrower and advanced by the lender, as well as related expenses for the lender to realize its creditor’s rights; (2) Interest, including compound interest, penalty interest, etc.; (3) Principal debts such as principal.

Repayment sequence. If the amount repaid by the Borrower is less than the total amount as contemplated hereunder or to be repaid on the prepayment date, such amount shall be deemed as being repaid in following sequence regardless of any instruction from the Borrower: 15.1 first, against any fee, cost, expense or expenditure payable to the Lender under this Agreement and/or other Loan Documents; 15.2 secondly, against any penalty interest, compound interest, overdue interest, Prepayment Fee or accrued interest payable; 15.3 thirdly, against Loan principal amounts in a reverse order (i.e. the principal due last will be repaid first); and 15.4 fourthly, against other expenses payable but unpaid under the Loan Documents. If the repaid amount is not sufficient to cover all items as listed in each repayment sequence, such items shall be deemed as being repaid in sequence of their occurrence.