Application to Obligations Sample Clauses

Application to Obligations. The Loan Parties agree that (A) all funds on deposit in the Dominion Accounts shall be treated as payments to the Agent subject to Section 2.15(b), Lenders and other holders of the Obligations in respect of the Obligations, subject to the limitations in Section 2.14, and therefore shall constitute the property of the Agent, the Lenders and the other holders of the Obligations to the extent of the then outstanding Obligations and (B) all amounts received in any Dominion Account shall be applied (and allocated) by Agent as follows:
Sample 1
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Application to Obligations. If at any time a Low DSCR Trigger Event occurs and a Low DSCR Release Event does not occur within two (2) calendar quarters after such Low DSCR Trigger Event, then, Administrative Agent, at its option, may withdraw any amounts on deposit in the Low DSCR Account and apply such funds to payment of the Loans in the manner provided in Section 2.4(6) or, if an Event of Default has occurred and is continuing, in such order, proportion and priority as Administrative Agent may determine in its sole and absolute discretion. Administrative Agent's right to withdraw and apply such funds shall be in addition to all other rights and remedies provided to Administrative Agent on behalf of the Lenders under the Loan Documents.
Sample 1
Application to Obligations. Any cash transferred to Administrative Agent for the benefit of Buyers pursuant to this Section 6.3 shall be deposited into the Over/Under Account for Administrative Agent and each Buyer’s benefit and such amount shall be held on account of the Obligations due hereunder.
Sample 1
Application to Obligations. The Loan Parties agree that (A) all funds on deposit in the Dominion Accounts shall be treated as payments to the Agent subject to Section 2.15(b), Lenders and other holders of the Obligations in respect of the Obligations, subject to the limitations in Section 2.14, and therefore shall constitute the property of the Agent, the Lenders and the other holders of the Obligations to the extent of the then outstanding Obligations and (B) all amounts received in any Dominion Account shall be applied (and allocated) by Agent as follows: first, to pay the principal of all Revolver Advances until paid in full (without any corresponding reduction in the Revolver Commitment), second, if an Event of Default has occurred and is continuing, to Cash Collateralize any Letters of Credit (to the extent permitted by applicable law, such cash collateral shall be applied to the reimbursement of any such Letter of Credit Disbursement as and when such disbursement occurs and, if a Letter of Credit expires undrawn, the cash collateral held by Agent in respect of such Letter of Credit shall, to the extent permitted by applicable law, be reapplied pursuant to this Section 2.15(d)(vi), beginning with tier (A) hereof), and third, unless an Event of Default shall have occurred and be continuing, to the Borrowers (to be wired to the applicable Designated Account).
Sample 1
Application to Obligations. Except as otherwise provided herein, all amounts received by the Lender from the Borrowers of every kind and nature may be applied by the Lender to the Obligations in such order as the Lender shall determine in its sole discretion. Each of the Borrowers authorizes the Lender upon occurrence of any Event of Default (unless such Event of Default has been waived), at any time and without notice to appropriate to the Obligations and apply any Collateral or any deposits or monies of any of the Borrowers in the Lender's possession, custody or control, towards the payment of the Obligations. Each of the Borrowers hereby waives presentment, demand, notice of acceptance, performance, default, enforcement, exoneration and reimbursement, consents to any acceleration, extension, modification, waiver, or postponement, or to any other indulgence, to any addition, substitution, exchange or release of Collateral, to the addition or release of any other party or Person primarily or secondarily liable, to the settlement, compromise or adjustment of the Obligations, or to the application of any Collateral against the Obligations in any order so determined by the Lender. Notwithstanding anything contained herein to the contrary, the Lender shall have no rights of setoff or similar rights with respect to the Special Account.
Sample 1

Related to Application to Obligations

  • Application to Master Agreements For the avoidance of doubt, Clause 21.4 does not apply in respect of sums due from the Borrower to a Swap Counterparty under or in connection with a Master Agreement as to which sums the provisions of section 8 (Contractual Currency) of that Master Agreement shall apply.

  • Application to Repayment Amounts (i) Subject to clause (ii) of this Section 5.2(c), the first proviso to Section 5.2(a)(i) and the first proviso to Section 5.2(a)(ii), (A) each prepayment of Term Loans required by Sections 5.2(a)(i) and (ii) (other than in connection with a Debt Incurrence Prepayment Event) shall be allocated to the Classes of Term Loans outstanding, pro rata, based upon the applicable remaining Repayment Amounts due in respect of each such Class of Term Loans (excluding any Class of Term Loans that has agreed to receive a less than pro rata share of any such mandatory prepayment and taking into account any reduction in the amount of any required Excess Cash Flow payment to any Class of Term Loans that have been subject to a Section 13.6(g) transaction), shall be applied pro rata to Lenders within each Class, based upon the outstanding principal amounts owing to each such Lender under each such Class of Term Loans and shall be applied to reduce such scheduled Repayment Amounts within each such Class in accordance with Section 5.2(d)(ii) and (B) each prepayment of Term Loans required by Section 5.2(a)(i) in connection with a Debt Incurrence Prepayment Event shall be allocated to any Class of Term Loans outstanding as directed by the Borrower (subject to the requirement that the proceeds of any Specified Debt Incurrence Prepayment Event shall in all cases be applied to prepay or repay the applicable Refinanced Indebtedness), shall be applied pro rata to Lenders within each such Class, based upon the outstanding principal amounts owing to each such Lender under each such Class of Term Loans and shall be applied to reduce such scheduled Repayment Amounts within each such Class in accordance with Section 5.2(d)(ii); provided that, with respect to the allocation of such prepayments under clause (A) above only, between an Existing Term Loan Class and Extended Term Loans of the same Extension Series, the Borrower may allocate such prepayments as the Borrower may specify, subject to the limitation that the Borrower shall not allocate to Extended Term Loans of any Extension Series any such mandatory prepayment under such clause (A) unless such prepayment is accompanied by at least a pro rata prepayment, based upon the applicable remaining Repayment Amounts due in respect thereof, of the Term Loans of the Existing Term Loan Class, if any, from which such Extended Term Loans were converted or exchanged (or such Term Loans of the Existing Term Loan Class have otherwise been repaid in full).

  • No obligation to monitor No Finance Party is bound to monitor or verify the utilisation of a Facility.

  • Application to Master Agreement For the avoidance of doubt, Clause 21.5 does not apply in respect of sums due from the Borrower to the Swap Bank under or in connection with the Master Agreement as to which sums the provisions of section 8 (Contractual Currency) of the Master Agreement shall apply.

  • Application to all Forms of Relief This Waiver and Release of Claims applies to any relief no matter how called, including, without limitation, wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages for pain or suffering, costs and attorney’s fees and expenses.

  • Application to Term Loans With respect to each prepayment of Term Loans required by Section 5.2(a), the Borrower may, if applicable, designate the Types of Loans that are to be prepaid and the specific Borrowing(s) pursuant to which made; provided, that if any Lender has provided a Rejection Notice in compliance with Section 5.2(f), such prepayment shall be applied with respect to the Term Loans to be prepaid on a pro rata basis across all outstanding Types of such Term Loans in proportion to the percentage of such outstanding Term Loans to be prepaid represented by each such Class. In the absence of a Rejection Notice or a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, make such designation in its reasonable discretion with a view, but no obligation, to minimize breakage costs owing under Section 2.11.

  • Additional Conditions to Obligation of the Company The obligation of the Company to effect the Merger is also subject to the following conditions:

  • Additional Conditions to Obligations of the Company The obligations of the Company to consummate the Merger and the transactions contemplated by this Agreement shall be subject to the satisfaction at or prior to the Closing of each of the following conditions, any of which may be waived, in writing, exclusively by the Company:

  • Additional Conditions to Obligations of Target The obligations of Target to consummate and effect this Agreement and the transactions contemplated hereby shall be subject to the satisfaction at or prior to the Effective Time of each of the following conditions, any of which may be waived, in writing, by Target:

  • Obligation to Notify If the Participant makes the election permitted under Section 83(b) of the Internal Revenue Code of 1986, as amended (that is, an election to include in gross income in the year of transfer the amounts specified in Section 83(b)), the Participant shall notify the Company of such election within 10 days of filing notice of the election with the Internal Revenue Service and shall within the same 10-day period remit to the Company an amount sufficient in the opinion of the Company to satisfy any federal, state and other governmental tax withholding requirements related to such inclusion in Participant’s income. The Participant should consult with his or her tax advisor to determine the tax consequences of acquiring the Restricted Stock and the advantages and disadvantages of filing the Section 83(b) election. The Participant acknowledges that it is his or her sole responsibility, and not the Company’s, to file a timely election under Section 83(b), even if the Participant requests the Company or its representatives to make this filing on his or her behalf.

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