Common use of Application of Payments Generally Clause in Contracts

Application of Payments Generally. If sufficient amounts are not available to repay all outstanding Obligations described in any priority level set forth in this Section 2.9, the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion of the Credit Parties’ interest in such Obligations. Any priority level set forth in this Section 2.9 that includes interest shall include all such interest, whether or not accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding.

Appears in 2 contracts

Samples: Bridge Note Purchase Agreement (Princeton Review Inc), Senior Subordinated Note Purchase Agreement (Princeton Review Inc)

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Application of Payments Generally. If sufficient amounts are not available to repay all outstanding Obligations then due described in any priority level set forth in this Section 2.92.6, the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion of the Credit Secured Parties’ interest in such Obligations. Any priority level set forth in this Section 2.9 2.6 that includes interest shall include all such interest, whether or not accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding.

Appears in 1 contract

Samples: Loan Agreement (Emeritus Corp\wa\)

Application of Payments Generally. If sufficient amounts are not available to repay all outstanding Obligations described in any priority level set forth in this Section 2.92.10, the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion of the Credit Secured Parties’ interest in such Obligations. Any priority level set forth in this Section 2.9 2.10 that includes interest shall include all such interest, whether or not accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding.

Appears in 1 contract

Samples: Loan and Security Agreement (MMC Energy, Inc.)

Application of Payments Generally. If sufficient amounts are not available to repay all outstanding Obligations described in any priority level set forth in this Section 2.9, 2.9 the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion of the Credit Parties’ interest in such Obligations. Any priority level set forth in this Section 2.9 that includes interest shall include all such interest, whether or not accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding.

Appears in 1 contract

Samples: Securities Purchase Agreement (Princeton Review Inc)

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Application of Payments Generally. If sufficient amounts are not available to repay all outstanding Obligations described in any priority level set forth in this Section 2.92.8, the available amounts shall be applied, unless otherwise expressly specified herein, to such Obligations ratably based on the proportion of the Credit Secured Parties' interest in such Obligations. Any priority level set forth in this Section 2.9 2.8 that includes interest shall include all such interest, whether or not accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding.

Appears in 1 contract

Samples: Second Lien Loan Agreement (Cinedigm Corp.)

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