Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 12 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Agreement (Global Ship Lease, Inc.), Facility Agreement (Navios Maritime Partners L.P.)
Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 3 contracts
Samples: Credit Agreement (DHT Holdings, Inc.), Credit Agreement (DHT Holdings, Inc.), Assignment Agreement (Castor Maritime Inc.)
Application of receipts; partial payments. (a) If the Facility Agent or the Security Agent (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent or the Security Agent (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 3 contracts
Samples: Assignment Agreement (Pyxis Tankers Inc.), Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp)
Application of receipts; partial payments. (a) If Except as any Finance Document may otherwise provide, if the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 2 contracts
Samples: Banks and Financial Institutions (Okeanis Eco Tankers Corp.), Banks and Financial Institutions (Okeanis Eco Tankers Corp.)
Application of receipts; partial payments. (a) If the Facility Agent or the Security Agent (as applicable) receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction Obligor under the Finance Documents, the Facility Agent or the Security Agent (as applicable) shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:order (in addition to any relevant provisions in the Security Documents):
Appears in 2 contracts
Samples: Junior Facility Agreement (Global Ship Lease, Inc.), Assignment Agreement (Global Ship Lease, Inc.)
Application of receipts; partial payments. (a) If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by a Transaction an Obligor under the Finance Documents, the Facility Agent shall apply that payment towards the obligations of that Transaction Obligor under the Finance Documents in the following order:
Appears in 1 contract
