Common use of Apportionment and Application of Payments Clause in Contracts

Apportionment and Application of Payments. Aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lender) and payments of the fees shall, as applicable, be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of specific Loans, or not constituting payment of specific fees, and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities or expense reimbursements including any amounts relating to ACH Transactions then due to the Agent from the Borrower; second, to pay any fees or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Revolving Loans, including BABC Loans and Agent Advances; fourth, to pay or prepay principal of the BABC Loans and Agent Advances; fifth, to pay or prepay principal of the Revolving Loans (other than BABC Loans and Agent Advances) and unpaid reimbursement obligations in respect of Letters of Credit and sixth, to the payment of any other Obligation due to the Agent or any Lender by the Borrower. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless an Event of Default is outstanding, neither the Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such LIBOR Revolving Loan, or (b) in the event, and only to the extent, that there are no outstanding Base Rate Revolving Loans. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(j).

Apportionment and Application of Payments. Aggregate Except as otherwise provided with respect to Defaulting Lenders and Agent Loans, aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans to which such payments relate held by each Lendertheir Pro Rata Shares) and payments of the fees (other than fees designated for Agent's separate account) shall, as applicable, be apportioned ratably among among, the LendersLenders (according to their Pro Rata Shares). All payments shall be remitted to the Agent and all such payments not relating to principal or interest on the Loans or of specific LoansAdvances, or not constituting payment of specific fees, fees and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratablyshall, subject to the provisions of this AgreementSECTION and SECTION, be applied, first, to pay any fees, indemnities or expense reimbursements including any amounts relating to ACH Transactions then due to the Agent from the Borrower; second, to pay any fees fees, indemnities or expense reimbursements then due to the Lenders from the Borrower; third, to pay interest due in respect of all Revolving LoansAdvances, including BABC Loans and Agent AdvancesLoans; fourth, to pay or prepay principal of the BABC Loans and Agent AdvancesLoans; fifth, ratably to pay or prepay principal of the Revolving Loans Advances (other than BABC Loans and Agent AdvancesLoans) and unpaid reimbursement unreimbursed obligations in respect of Letters of Credit Credit; and sixth, ratably to the payment of pay any other Obligation Obligations due to the Agent or any Lender by the Borrower. Notwithstanding anything To the extent that any sums are applied to repay the contrary contained principal balance of any Advances, they shall be applied first to Base Rate Loans and then to LIBOR Rate Loans, in this Agreement, unless so directed by the Borrower, or unless an Event of Default is outstanding, neither chronological order in which the Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any Rate Periods for such LIBOR Revolving Loan, or (b) in the event, and only to the extent, that there are no outstanding Base Rate Revolving LoansLoans expire. The Agent shall promptly distribute to each Lender, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(j)SECTION. Upon the occurrence of an Event of Default, any and all payments on account of the Revolving Credit Facility will be applied to costs, indemnities, fees, interest, principal and other sums due hereunder or under the Loan Documents, in such order as Agent, in its discretion, elects.

Apportionment and Application of Payments. Aggregate Except as otherwise provided with respect to Defaulting Lenders, aggregate principal and interest payments shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Loans Advances to which such payments relate held by each Lender) and payments of the fees (other than fees designated for Agent’s or Issuing Bank’s separate account) shall, as applicable, be apportioned ratably among the Lenders. All payments shall be remitted to the Agent and all such payments not relating to principal or interest of on specific LoansAdvances, or not constituting payment of specific fees, fees and all proceeds of Accounts or other Collateral received by the Agent, shall be applied, ratably, subject to the provisions of this Agreement, first, to pay any fees, indemnities fees or expense reimbursements including any amounts relating to ACH Transactions then due to the Agent from the BorrowerBorrowers; second, to pay any fees or expense reimbursements then due to the Lenders and Issuing Bank from the BorrowerBorrowers; third, to pay interest due in respect of all Revolving LoansAdvances, including BABC Agent Loans and Agent Protective Advances; fourth, to pay or prepay principal of the BABC Agent Loans and Agent Protective Advances; fifth, ratably to pay or prepay principal of the Revolving Loans Advances (other than BABC Agent Loans and Agent Protective Advances) and unpaid reimbursement unreimbursed obligations in respect of Letters of Credit (and, if such payment occurs after the acceleration of the Obligations due to an Event of Default, to Cash Collateralize all outstanding Letters of Credit up to an amount equal to 105% of the aggregate extant value of all such Letters of Credit); and sixth, ratably to the payment of pay any other Obligation Secured Obligations due to the Agent Agent, any Lender or any Lender Bank Product Providers by the BorrowerBorrowers. Notwithstanding anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless an Event of Default is outstanding, neither the Agent nor any Lender shall apply any payments which it receives to any LIBOR Revolving Loan, except (a) on the expiration date of the Interest Period applicable to any such LIBOR Revolving Loan, or (b) in the event, and only to the extent, that there are no outstanding Base Rate Revolving Loans. The Agent shall promptly distribute to each Lender (for Lender’s own account and for the account of any Affiliate of such Lender which is a Bank Product Provider) and Issuing Bank, pursuant to the applicable wire transfer instructions received from each Lender in writing, such funds as it (or any of its Affiliates which is a Bank Product Provider) may be entitled to receive, subject to a Settlement delay as provided for in Section 2.2(j2.1(j).