Common use of Application and Reversal of Payments Clause in Contracts

Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 22 contracts

Samples: Loan and Security Agreement (Old Evangeline Downs Capital Corp), Loan and Security Agreement (I Link Inc), Credit Agreement (Piccadilly Cafeterias Inc)

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Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts Accounts, License Receivables, or other Collateral received by Lender, shall be applied as follows:

Appears in 2 contracts

Samples: Loan and Security Agreement (Microstrategy Inc), Loan and Security Agreement (Microstrategy Inc)

Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 2 contracts

Samples: Loan and Security Agreement (RMH Teleservices Inc), Loan and Security Agreement (Intervoice Brite Inc)

Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific the Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (New World Restaurant Group Inc)

Application and Reversal of Payments. (i) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Jalou Cashs LLC)

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Application and Reversal of Payments. (ia) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations with respect to the Notes or which relate to the payment of specific Obligations, including, but not limited to, the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 1 contract

Samples: Term Loan and Security Agreement (Cascade Corp)

Application and Reversal of Payments. (ia) All payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations with respect to the Term Loan, or which relate to the payment of specific Obligations, including, but not limited to, the payment of specific fees), and all proceeds of Accounts or other Collateral Security received by Lender, shall be applied as follows:

Appears in 1 contract

Samples: Term Loan Agreement (Cascade Corp)

Application and Reversal of Payments. (i) All Subject to Section 2.3(b)(ii), all payments shall be remitted to Lender and all such payments (other than payments received while no Default or Event of Default has occurred and is continuing and which relate to the payment of principal or interest of specific Obligations or which relate to the payment of specific fees), and all proceeds of Accounts or other Collateral received by Lender, shall be applied as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Equifin Inc)

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