Application of Payment Clause Samples
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Application of Payment. The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.
Application of Payment. All payments received by MediCard from the MEMBER shall be applied to the SOAs, in the order of respective due dates, starting from the earliest. Payment will be applied to the interest or penalty first before applying it to the principal amount.
Application of Payment. Notwithstanding anything herein to the contrary, following the occurrence and during the continuance of an Event of Default, and notice thereof to the Administrative Agent by the Borrower or the Required Lenders, all payments received on account of the Obligations shall, subject to Section 2.20, be applied by the Administrative Agent as follows:
(i) first, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts payable to the Administrative Agent (including fees and disbursements and other charges of counsel to the Administrative Agent payable under Section 11.03 and amounts pursuant to Section 2.12(c) payable to the Administrative Agent in its capacity as such);
(ii) second, to payment of that portion of the Obligations constituting fees, expenses, indemnities and other amounts (other than principal and interest) payable to the Lenders (including fees and disbursements and other charges of counsel to the Lenders payable under Section 11.03) arising under the Credit Documents, ratably among them in proportion to the respective amounts described in this clause (ii) payable to them;
(iii) third, to payment of that portion of interest on the Loans, ratably among the Lenders in proportion to the respective amounts described in this clause (iii) payable to them;
(iv) fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and;
(v) fifth, to the payment in full of all other Obligations, in each case ratably among the Administrative Agent and the Lenders based upon the respective aggregate amounts of all such Obligations owing to them in accordance with the respective amounts thereof then due and payable; and
(vi) finally, the balance, if any, after all Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by law.
Application of Payment. Except as otherwise expressly set forth herein, all payments received by Lender hereunder shall be applied, in accordance with the then current billing statement applicable to the Borrowing, first to accrued interest, then to fees, then to principal due and then to late charges. Any remaining funds shall be applied to the further reduction of principal. In the event more than one Borrowing shall be outstanding hereunder, and no designation is made by Borrower, Lender, in its discretion, may determine to which Borrowing(s) each payment shall be applied. Notwithstanding the foregoing, upon the occurrence of a Default Condition or Event of Default, payments shall be applied to the Obligations in such order as Lender, in its sole discretion, may elect.
Application of Payment. Money paid by RESIDENT to MANAGEMENT shall be applied to RESIDENT’S account in the following order: FIRST, to outstanding late charges and returned check charges; SECOND, to outstanding legal fees and/or court costs legally chargeable to RESIDENT; THIRD, to outstanding utility bills or unit charges; and
Application of Payment. All payments will be applied first towards accrued interest, and then towards principal.
Application of Payment. We may allocate payments to amounts owed on your Account in the manner we deem appropriate, including but not limited to, applying payment to promotional balances, such as Balance Transfers, before applying them to Purchases and Advances.
Application of Payment. The Company may apply payments it receives from you, for Services and/or Comcast Related Services, to charges in the order and manner it so elects.
Application of Payment. Any payments received by the Bank from the Borrowers on account of the Obligations will be applied in such order as the Bank may elect in its sole discretion.
Application of Payment. All payments on or in respect of this Note, shall be applied first to any accrued or past due payments Regular Interest and Deferred Interest and then to the outstanding principal balance of this Note.