Application of prepayment Clause Samples
The 'Application of prepayment' clause defines how any advance payments made by a party are to be allocated within the context of the agreement. Typically, this clause specifies whether prepayments are applied first to interest, principal, fees, or other outstanding amounts, and may outline the order of application if multiple obligations exist. Its core practical function is to ensure transparency and prevent disputes by clearly establishing how prepayments reduce the parties' financial obligations under the contract.
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Application of prepayment. The provisions of Clause 4 shall apply in relation to the prepayment made hereunder.
Application of prepayment. Clause 7 shall apply in relation to the prepayment.
Application of prepayment. Clause 7 shall apply in relation to any prepayment pursuant to Clause 14.2(b).
Application of prepayment. Clause 8 (Repayment and Prepayment) shall apply in relation to the prepayment.
Application of prepayment. Clause 8.10 shall apply in relation to any prepayment pursuant to Clause 15.1.
Application of prepayment. Clause 4 (Repayment-Prepayment) shall apply in relation to the prepayment.
Application of prepayment. The provisions of Clauses 8.10 and 8.11(a) shall apply in relation to the prepayment.
Application of prepayment. Any prepayment of this Note shall be applied first to pay any accrued and unpaid interest on this Note to the date of prepayment and thereafter to the remaining principal balance of this Note.
Application of prepayment. All prepayments required pursuant to this Section 2.04 shall first be applied among the Base Rate Loans, then to Eurodollar Loans.