Application of receipts; partial payments. (a) Subject to paragraph (b) below and except as any Finance Document may otherwise provide, any payment that is received or recovered by any Finance Party under, in connection with, or pursuant to any Finance Document shall be paid to the Facility Agent which shall apply the same in the following order:
Appears in 16 contracts
Samples: Assignment Agreement (DryShips Inc.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.), Assignment Agreement (Star Bulk Carriers Corp.)
Application of receipts; partial payments. (a) Subject to paragraph (bi) below and except as any Finance Document may otherwise provide, any payment that is received or recovered by any Finance Party under, in connection with, or pursuant to any Finance Document shall be paid to the Facility Agent which shall apply the same in the following order:
Appears in 2 contracts
Samples: Assignment Agreement (Ardmore Shipping Corp), Assignment Agreement (Ardmore Shipping Corp)
