Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.2, and subject to the provisions of Sections 2.8.2(b) below, each payment by Borrower hereunder shall be applied to such Obligations as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 6 contracts
Samples: Credit Agreement (Earth Biofuels Inc), Credit Agreement (Earth Biofuels Inc), Control Agreement (Earth Biofuels Inc)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.4.3, and subject to the provisions of Sections 2.8.2(bSection 2.6.2(b) below, each payment by Borrower hereunder shall be applied to such Obligations as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its sole discretion. Concurrently with each remittance to any the Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 5 contracts
Samples: Credit Agreement (Merus Labs International Inc.), Credit Agreement (PDL Biopharma, Inc.), Credit Agreement (Merus Labs International Inc.)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.10.2 and Section 2.10.3, and subject to the provisions of Sections 2.8.2(b2.12.2(b) and 2.12.2(c) below, each payment by Borrower hereunder of principal shall be applied to such Obligations Loans as Administrative Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 4 contracts
Samples: Second Lien Credit Agreement (Performance Health Holdings Corp.), Credit Agreement (Performance Health Holdings Corp.), Credit Agreement (Performance Health Holdings Corp.)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.10.2 and Section 2.10.3, and subject to the provisions of Sections 2.8.2(bSection 2.12.2(b) below, each payment by Borrower hereunder of principal shall be applied to such Obligations Loans as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 2 contracts
Samples: Credit Agreement (Compass Diversified Holdings), Credit Agreement (AmWINS GROUP INC)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.10.2 and Section 2.10.3, and subject to the provisions of Sections 2.8.2(b2.12.2(b) and 2.12.2(c) below, each payment by Borrower hereunder of principal shall be applied to such Obligations Loans as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 1 contract
Samples: Assignment Agreement (Compass Group Diversified Holdings LLC)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.4.3, and subject to the provisions of Sections 2.8.2(b2.6.2(b) below, each payment by Borrower hereunder shall be applied to such Obligations as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 1 contract
Samples: Credit Agreement (PNG Ventures Inc)
Application of Payments and Proceeds. (a) Except as set forth in Section 2.6.22.10.2 and Section 2.10.3, and subject to the provisions of Sections 2.8.2(b2.12.2(b) and 2.12.2(c) below, each payment by Borrower hereunder of principal shall be applied to such Obligations Loans as Borrower shall direct by notice to be received by Agent on or before the date of such payment or, in the absence of such notice, as Agent shall determine in its reasonable discretion. Concurrently with each remittance to any Lender of its share of any such payment, Agent shall advise such Lender as to the application of such payment.
Appears in 1 contract
