Common use of Conditional Payment Clause in Contracts

Conditional Payment. All funds received by Lender from Obligors will be subject to Lender's standard clearing procedures and clearing periods for uncollected funds as such procedures and clearing periods may change from time-to-time. Obligors waive any rights they may have to direct the application of any and all payments at any time or times hereafter received by Lender on account of the Indebtedness. Obligors agree that Lender shall have the continuing exclusive right to apply and reapply such payments in any manner, as Lender may deem advisable, notwithstanding any entry by Lender upon its books; provided, however, that so long as no Lenders' Costs, interest, principal or any other amount owing under this Agreement and the other Loan Documents is due and no Potential Default or Event of Default has occurred and is continuing, Obligors may direct the prepayment of the Term Loan in accord with Paragraph 2.2.6 hereof.