Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.
Appears in 2 contracts
Samples: Term Facility Agreement (James Hardie Industries Se), Facility Agreement (James Hardie Industries N.V.)
Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the Borrower towards satisfaction of the Borrower’s 's obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.
Appears in 2 contracts
Samples: Hardie James Industries Nv, Hardie James Industries Nv
Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the each Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.
Appears in 2 contracts
Samples: Facility Agreement (Hardie James Industries Nv), Facility Agreement (Hardie James Industries Nv)
Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by [the / each] Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.
Appears in 1 contract
