Application and Allocation of Payments Sample Clauses

Application and Allocation of Payments. So long as no Event of Default has occurred and is continuing, (i) payments matching specific scheduled payments then due shall be applied to those scheduled payments; (ii) voluntary prepayments shall be applied in accordance with the provisions of Section 2.6(d) and (iii) mandatory prepayments shall be applied as set forth in Section 2.6(e). All payments and prepayments applied to a particular Loan shall be applied ratably to the portion thereof held by each Lender as determined by its Pro Rata Share. As to any other payment, and as to all payments made when an Event of Default has occurred and is continuing or following the Termination Date, Borrowers hereby irrevocably waives the right to direct the application of any and all payments received from or on behalf of any Borrower, and Borrowers hereby irrevocably agrees that Agent shall have the continuing exclusive right to apply any and all such payments against the Obligations as Agent may deem advisable. In all circumstances, after acceleration or maturity of the Obligations, all payments and proceeds of Collateral shall be applied to amounts then due and payable in the following order: (1) to Fees and Agent’s expenses reimbursable hereunder; (2) to interest on the Loans, ratably in proportion to the interest accrued as to each Loan; (3) to principal payments on the Loans, ratably to the aggregate, combined principal balance of the Loans and (4) to all other Obligations including expenses of Lenders to the extent reimbursable hereunder.
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Application and Allocation of Payments. Each Borrower irrevocably agrees that Lender shall have the continuing and exclusive right to apply any and all payments against the then due and payable Obligations in such order as Lender may deem advisable. Lender is authorized to, and at its option may (without prior notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made Revolving Credit Advances on behalf of any Borrower for: (a) payment of all Fees, expenses, indemnities, charges, costs, principal, interest, or other Obligations owing by such Borrower under this Agreement or any of the other Loan Documents, (b) the payment, performance or satisfaction of any of such Borrower's obligations with respect to preservation of the Collateral, or (c) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan attributable to any Borrower to exceed such Borrower's Borrowing Availability, and each Borrower agrees to repay immediately, in cash, any amount by which the Revolving Credit Loan attributable to such Borrower exceeds its Borrowing Availability.
Application and Allocation of Payments. Any and all payments at any time or times hereafter received from or on behalf of Borrowers shall be applied in the following order: (i) then due and payable Fees, expenses and other Obligations; (ii) then due and payable interest payments on the Loans; (iii) Obligations to Lender then due and payable other than Fees, expenses and interest and principal payments; and (iv) then due and payable principal payments on the Loans in order of maturity. Lender is authorized to, and at its option may, make or cause to be made expenditures by Lender on behalf of Borrowers for payment of all Fees, expenses, charges, costs, principal, interest, or other Obligations then due and payable by Borrowers under this Agreement or any of the Loan Documents with respect to the Loans, and Borrowers agree that the making of any such expenditure shall be deemed a borrowing under Loan C and shall constitute an automatic Default entitling Lender to exercise all rights and remedies available under this Agreement, any other Loan Document or applicable law. Notwithstanding the foregoing, with respect to principal and interest payments under Loan A and Loan B, it shall not be deemed a borrowing under Loan C until five days after the due date for such payments.
Application and Allocation of Payments. All payments (including prepayments) made by or for the account of the Borrowers hereunder shall, irrespective of 25 any allocation expressed by the Borrowers or either of them, be applied in the following order: (i) to the payment of the Agents' and the Lenders' fees then due and payable, if any, (ii) to payment or reimbursement of the reasonable costs and expenses referred to in section 11.4, (iii) to then due and payable interest payments on the Loans, (iv) to the payment of any remaining obligations then due to the Lenders other than fees, expenses and interest and principal payments, and (v) to the payment of principal then due and payable on the Loans. Subject to the foregoing, all payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid. Each Borrower irrevocably waives the right otherwise to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrowers.
Application and Allocation of Payments. Aladdin Gaming irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received by GE Capital from or on behalf of Aladdin Gaming, and Aladdin Gaming irrevocably agrees that GE Capital shall have the continuing exclusive right to apply any and all such payments then due and payable to Obligations of Aladdin Gaming as GE Capital may deem advisable. In the absence of a specific determination by GE Capital with respect thereto, the same shall be applied in the following order: (1) then due and payable Fees and expenses of GE Capital; (2) then due and payable interest payments with respect to the Obligations; (3) Obligations to GE Capital other than Fees, expenses and interest and principal payments; and (4) then due and payable principal payments with respect to the Obligations. Notwithstanding the foregoing, prior to the occurrence of an Event of Default, all payments made by Aladdin Gaming specifically identified as being made with respect to the Lease Facility shall be applied only to those Obligations relating to the Lease Facility.
Application and Allocation of Payments. Borrower irrevocably agrees that Lender shall have the continuing and exclusive right to apply any and all payments against the then due and payable Obligations in such order as Lender may deem advisable.
Application and Allocation of Payments. Section 2.19(a)(i) of the Credit Agreement is hereby amended by inserting the following language immediately after the phrase “with respect thereto” and immediately prior to the phrase “(other than payments made using proceeds of Revolving Credit Loans)” in the second line thereof, to read as follows:
Application and Allocation of Payments. 5.5.1Application. Payments made by Borrowers hereunder shall be applied (a) first, as specifically required hereby; (b) second, to Obligations then due and owing; (c) third, to other Obligations specified by Borrowers; and (d) fourth, as determined by Administrative Agent in its reasonable discretion.5.5.2Post-Default Allocation. Notwithstanding anything in any Loan Document to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as follows:(a)first, to all fees, indemnification, costs and expenses (other than fees, costs and expenses constituting Secured Bank Product Obligations), including Extraordinary Expenses, owing to Administrative Agent;(b)second, to all amounts owing to the Lenders and Administrative Agent on Swingline Loans, Protective Advances, and Loans and participations that a Defaulting Lender has failed to settle or fund;(c)third, to all amounts owing to Issuing Bank, ratably among each Issuing Bank in proportion to the respective amounts described in this clause payable to it;(d)fourth, to all Obligations (other than Secured Bank Product Obligations) constituting fees, indemnification, costs or expenses owing to Lenders;(e)fifth, to all Obligations (other than Secured Bank Product Obligations) constituting interest;(f)sixth, to Cash Collateralize all LC Obligations;(g)seventh, to all Loans, and to Secured Bank Product Obligations arising under Hedging Agreements (including Cash Collateralization thereof) that are pari passu with the Loans and up to the amount of the Bank Product Reserve existing therefor;(h)eighth, to all other Secured Bank Product Obligations;(i)ninth, to all remaining Obligations;(j)last, the balance, if any, after all Obligations have been indefeasibly paid in full, to the Borrowers or as otherwise required by Applicable Law.Amounts shall be applied to payment of each category of Obligations only after Full Payment of amounts payable from time to time under all preceding categories. If amounts are insufficient to satisfy a category, they shall be paid ratably among outstanding Obligations in the category. Monies and proceeds obtained from an Obligor shall not be applied to its Excluded Swap Obligations, but appropriate adjustments shall be made with respect to amounts obtained from other Obligors to preserve the allocations in any applicable category. Administrative Agent shall have...
Application and Allocation of Payments. Borrower irrevocably agrees that each Lender shall have the continuing and exclusive right to apply any and all payments against the then due and payable Obligations, as each Lender may deem advisable. In the absence of a specific determination by a Lender with respect thereto, the same shall be applied in the following order: (a) then due and payable Fees and expenses; (b) then due and payable Default Rate interest payments; (c) then due and payable Term Loan Rate interest payments; (d) then due and payable Obligations other than Fees, expenses and interest and principal payments; and (e) then due and payable principal payments on the Loan.
Application and Allocation of Payments. Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received by Lender from or on behalf of Borrower. Notwithstanding the foregoing, in the absence of a specific determination by Lender with respect thereto, or if an Event of Default shall have occurred and be continuing, such payments shall be applied in the following order: (a) first, to pay any Fees, indemnities, or expense reimbursements then due to Lender; (b) second, to pay interest then due and payable by Borrower; (c) third, to pay or prepay principal outstanding under the Term Loan; and (d) fourth, to pay all other Obligations outstanding.