Application of Payments to Principal and Interest. All payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. Except as ------------------------------------------------- provided in subsection 2.2C, all payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. All payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. All payments in respect of the principal amount of any Revolving Loan or any honored drawing under a Letter of Credit shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Revolving Loan on a date when interest is due and payable with respect to such Revolving Loan) shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. Except as provided in subsection 2.2B, all payments in respect of the principal amount of any Prime Rate Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. All payments in respect of the principal amount of any Loan shall include payment of accrued
Application of Payments to Principal and Interest. All payments in respect of the principal amount of any AXEL shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. All payments in respect of the principal amount of the Note shall include payment of accrued interest on the principal amount being paid, and all such payments shall be applied to the payment of interest before application to principal; provided, however, that from and after the occurrence of an Event of Default, in addition to such payments of principal and interest, all payments hereunder shall include fees, costs and expenses due to the Purchaser hereunder, and the Purchaser may apply all payments made hereunder to such Obligations, including all fees, costs and expenses, and in such order, as it may elect in its sole discretion. The Companies shall repay the outstanding principal amount of each Note with interest thereon in the manner and in accordance with the terms and conditions of such Note and the other Transaction Documents.
Application of Payments to Principal and Interest. All payments in respect of the principal amount of any LIBOR Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments shall be applied to the payment of interest before application to principal.
Application of Payments to Principal and Interest. Subject to the Subordination Agreement, except as provided in Section 2.2(c), all payments in respect of the principal amount of any Restated Note shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payment shall be applied first to the payment of interest (and upon repayment or prepayment in full of the Restated Notes, to payment of the Deferred Interest Amount) and second to the payment of Prepayment Premium, before application to principal.
