Common use of Application of Payments Not Otherwise Specified Clause in Contracts

Application of Payments Not Otherwise Specified. If the Agent receives funds for application to the Advances or any Letter of Credit Obligations or other Obligations of the Borrower under the Loan Documents under circumstances for which the Loan Documents do not specify the Advances or the Facility or the Obligations to which, or the manner in which, such funds are to be applied, the Agent may elect to distribute such funds first, to the Issuing Banks ratably in payment of the principal of and interest on any outstanding L/C Advances, second, to the payment of the outstanding Swing Line Advances and interest thereon, third, to each Lender ratably in accordance with such Lender's proportionate share of all Advances (other than Swing Line Advances) then outstanding, in repayment or prepayment of such of the outstanding Advances (other than Swing Line Advances), and for application to such principal installments, as the Agent may direct, and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Agent shall direct, provided that if an Event of Default has occurred and is continuing and the Revolving Commitments of the Lenders and the Swing Line Commitment of the Swing Line Lender have been terminated in full, the Agent shall distribute any payments and any proceeds of any collection, sale or other realization or liquidation of any Collateral first, to the payment of all costs and expenses of the Agent under the Loan Documents, second, to the Issuing Banks ratably in payment of the principal of and interest on any outstanding L/C Advances, third, to the payment of the outstanding Swing Line Advances and interest thereon, and fourth, to each Lender ratably in accordance with such Lender's proportionate share of the principal amount of all Advances (other than Swing Line Advances) and Letter of Credit Obligations then outstanding, in payment or prepayment of such Obligations owed to such Lender under the Loan Documents, and for application to such principal installments (if applicable) as the Agent shall direct.

Application of Payments Not Otherwise Specified. If the Administrative Agent receives funds for application to the Advances or any Letter of Credit Obligations or other Obligations of the Borrower under the Loan Documents under circumstances for which the Loan Documents do not specify the Advances or the Facility or the Obligations to which, or the manner in which, such funds are to be applied, the Administrative Agent may elect to distribute such funds first, to the Issuing L/C Banks ratably in payment of the principal of and interest on any outstanding L/C Advances, second, to the payment of the outstanding Swing Line Advances and interest thereon, third, to each Lender ratably in accordance with such Lender's ’s proportionate share of all Advances (other than Swing Line Advances) then outstanding, in repayment or prepayment of such of the outstanding Advances (other than Swing Line Advances), and for application to such principal installments, as the Administrative Agent may direct, and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Administrative Agent shall direct, provided that if an Event of Default has occurred and is continuing and the Revolving Commitments of the Lenders and the Swing Line Commitment Commitments of the Swing Line Lender have been terminated in full, the Administrative Agent shall distribute any payments and any proceeds of any collection, sale or other realization or liquidation of any Collateral first, to the payment of all costs and expenses of the Administrative Agent under the Loan Documents, second, to the Issuing L/C Banks ratably in payment of the principal of and interest on any outstanding L/C Advances, third, to the payment of the outstanding Swing Line Advances and interest thereon, and fourth, to each Lender ratably in accordance with such Lender's ’s proportionate share of the principal amount of all Advances (other than Swing Line Advances) and Letter of Credit Obligations then outstanding, in payment or prepayment of such Obligations owed to such Lender under the Loan Documents, and for application to such principal installments (if applicable) as the Administrative Agent shall direct.

Application of Payments Not Otherwise Specified. If the Agent receives funds for application to the Advances or any Letter of Credit L/C Obligations or other Obligations of the Borrower under the Loan Documents under circumstances for which the Loan Documents do not specify the Advances or the Facility or the Obligations to which, or the manner in which, such funds are to be applied, the Agent may elect to distribute such funds firstFIRST, to the Issuing Banks L/C Bank ratably in payment of the principal of and interest on any outstanding L/C Advances, secondSECOND, to the Swing Line Lender in payment of the principal of and interest on any outstanding Swing Line Advances and interest thereonAdvances, third, THIRD to each Lender ratably in accordance with such Lender's proportionate share of all Advances (other than Swing Line Advances) then outstanding, in repayment or prepayment of such of the outstanding Advances (other than Swing Line Advances), and for application to such principal installments, as the Agent may direct, and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Agent shall direct, provided PROVIDED that if an Event of Default has occurred and is continuing and the Revolving Commitments of the Revolving Lenders and the Swing Line Commitment of the Swing Line Lender have been terminated in full, the Agent shall distribute any payments and any proceeds of any collection, sale or other realization or liquidation of any Collateral firstFIRST, to the payment of all costs and expenses of the Agent under the Loan Documents, secondSECOND, to the Issuing Banks ratably L/C Bank in payment of the principal of and interest on any outstanding L/C Advances, third, THIRD to the Swing Line Lender in payment of the principal of and interest on any outstanding Swing Line Advances and interest thereonAdvances, and fourthFOURTH, to each Lender ratably in accordance with such Lender's proportionate share of the principal amount of all Advances (other than Swing Line Advances) and Letter of Credit L/C Obligations then outstanding, in payment or prepayment of such Obligations owed to such Lender under the Loan Documents, and for application to such principal installments (if applicable) as the Agent shall direct and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Agent shall direct.

Application of Payments Not Otherwise Specified. If the ----------------------------------------------- Administrative Agent receives funds for application to the Advances or any Letter of Credit Obligations or other Obligations of the Borrower under the Loan Documents under circumstances for which the Loan Documents do not specify the Advances or the Facility or the Obligations to which, or the manner in which, such funds are to be applied, the Administrative Agent may elect to distribute such funds first, to the Issuing Banks ratably in payment of the principal of ----- and interest on any outstanding L/C Advances, second, to the payment of the ------ outstanding Swing Line Advances and interest thereon, third, to each Lender ----- ratably in accordance with such Lender's proportionate share of all Advances (other than Swing Line Advances) then outstanding, in repayment or prepayment of such of the outstanding Advances (other than Swing Line Advances), and for application to such principal installments, as the Administrative Agent may direct, and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Administrative Agent shall direct, provided that if an Event of Default has -------- occurred and is continuing and the Revolving Commitments of the Lenders and the Swing Line Commitment Commitments of the Swing Line Lender have been terminated in full, the Administrative Agent shall distribute any payments and any proceeds of any collection, sale or other realization or liquidation of any Collateral first, to ----- the payment of all costs and expenses of the Administrative Agent under the Loan Documents, second, to the Issuing Banks ratably in payment of the principal of ------ and interest on any outstanding L/C Advances, third, to the payment of the ----- outstanding Swing Line Advances and interest thereon, and fourth, to each Lender ------ ratably in accordance with such Lender's proportionate share of the principal amount of all Advances (other than Swing Line Advances) and Letter of Credit Obligations then outstanding, in payment or prepayment of such Obligations owed to such Lender under the Loan Documents, and for application to such principal installments (if applicable) as the Administrative Agent shall direct.

Application of Payments Not Otherwise Specified. If the ----------------------------------------------- Administrative Agent receives funds for application to the Advances or any Letter of Credit Obligations or other Obligations of the Borrower under the Loan Documents under circumstances for which the Loan Documents do not specify the Advances or the Facility or the Obligations to which, or the manner in which, such funds are to be applied, the Administrative Agent may elect to distribute such funds first, to the Issuing L/C Banks ratably in payment of the principal of and ----- interest on any outstanding L/C Advances, second, to the payment of the ------ outstanding Swing Line Advances and interest thereon, third, to each Lender ----- ratably in accordance with such Lender's proportionate share of all Advances (other than Swing Line Advances) then outstanding, in repayment or prepayment of such of the outstanding Advances (other than Swing Line Advances), and for application to such principal installments, as the Administrative Agent may direct, and thereafter ratably to the Lenders in repayment or prepayment of any other Obligations of the Borrower then outstanding under the Loan Documents as the Administrative Agent shall direct, provided that if an Event of Default has -------- occurred and is continuing and the Revolving Commitments of the Lenders and the Swing Line Commitment Commitments of the Swing Line Lender have been terminated in full, the Administrative Agent shall distribute any payments and any proceeds of any collection, sale or other realization or liquidation of any Collateral first, to ----- the payment of all costs and expenses of the Administrative Agent under the Loan Documents, second, to the Issuing L/C Banks ratably in payment of the principal of and ------ interest on any outstanding L/C Advances, third, to the payment of the ----- outstanding Swing Line Advances and interest thereon, and fourth, to each Lender ------ ratably in accordance with such Lender's proportionate share of the principal amount of all Advances (other than Swing Line Advances) and Letter of Credit Obligations then outstanding, in payment or prepayment of such Obligations owed to such Lender under the Loan Documents, and for application to such principal installments (if applicable) as the Administrative Agent shall direct.