Examples of Order of Application in a sentence
If any of the Credit Parties receives any sum which, pursuant to any of the Credit Documents, should have been paid to the Collateral Agent and/or the Delegate Collateral Agent, that sum shall be held by that Credit Party for and to the order of the Secured Creditors and shall as soon as practicable be paid to the Collateral Agent for application in accordance with Clause 3.1 (Order of Application)).
After giving effect to the special allocations in Sections 14.4 (Minimum Gain Chargeback) through 14.12 (Order of Application), Profits for any fiscal year or other period shall be allocated to the Members in proportion to their LLC Percentages.
All monies received, recovered or realised under this Debenture by the Security Agent or any Receiver or the powers conferred by it (including the proceeds of any conversion of currency) may in its discretion be credited to and held in any suspense or impersonal account pending their application from time to time in or towards the discharge of any of the Secured Obligations in accordance with Clause 18.1 (Order of Application).
On the Maturity Date, the Borrower shall make a balloon payment, which is comprised of any unpaid principal balance plus any unpaid interest (accumulated or otherwise), costs, fees, and other charges associated with this Note (“Balloon Payment”), unless the Maturity Date is subject to Rollover as provided in Section 1.2 above.2.5 Order of Application of Payments.
The Security Agent and every Receiver and Delegate may, in priority to any payment to the Secured Parties, indemnify itself out of the Charged Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in Clause 25.1 (Debtors’ indemnity) and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security for all moneys payable to it, in each case in accordance with Clause 18.1 (Order of Application of Group Recoveries).
In consideration for the covenants given to the Trustee by each Obligor in Clause 25.22 (Parallel Debt (Covenant to pay the Trustee)), the Trustee agrees with each Obligor to apply all moneys from time to time paid by such Obligor to the Trustee in accordance with the provisions of Clause 30.1 (Order of Application).
In consideration for the covenants given to the Security Agent by each Obligor or BHL in Clause 26.2 (Parallel Debt (Covenant to pay the Security Agent)), the Security Agent agrees with each Obligor or BHL to apply all moneys from time to time paid by such Obligor to the Security Agent in accordance with the provisions of Clause 31.1 (Order of Application).
In consideration for the covenants given to the Security Trustee by each Obligor in clause 17.2 (Parallel Debt) of the Intercreditor Agreement, the Security Trustee agrees with each Obligor to apply all money from time to time paid by such Obligor to the Security Trustee in accordance with the provisions of Clause 32.1 (Order of Application).
Until such time the Security Agent may (subject to the payment of any claims having priority to this security) withdraw amounts standing to the credit of any such suspense account in order to pay the amounts referred to in paragraphs (a) and (b) of Clause 12.1 (Order of Application).
Security Provider) and, for the purposes of Clause 9.2 (Order of Application – Debt Claim Recoveries) only, shall be deemed to include a Refinancing Obligor to the extent of its Borrowing Liabilities.