Common use of Crediting of Payments and Proceeds Clause in Contracts

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (Healthplan Services Corp)

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Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.29.2, all payments received by the Lenders Lender upon the Notes Note and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes Note and any termination payments due in respect of a Hedging Agreement with Lender or any Lender (pro rata in accordance with all such amounts due)of its Affiliates, then to the principal amount of the NotesNote, in that order.

Appears in 1 contract

Samples: Credit Agreement (Optio Software Inc)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Revolving Credit Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), then to the principal amount of the Swingline Note, then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Loan Agreement (Sirrom Investments Inc)

Crediting of Payments and Proceeds. In the event that the Borrower Borrowers shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower Borrowers hereunder, then to all indemnity obligations then due and payable by the Borrower Borrowers hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes, then to the principal amount of the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (United States Lime & Minerals Inc)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees fees, if any, then due and payable, then to all commitment facility and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes, and then to the principal amount of the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata ratably in accordance with all such amounts due), then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (Roanoke Electric Steel Corp)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's and Issuing Lender's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes Notes, the Reimbursement Obligation and any termination payments due in respect of a Hedging Derivative Agreement with any Lender (pro rata in accordance with all such amounts due), then to the principal amount of the Notes, in that order.M#368727 27

Appears in 1 contract

Samples: Credit Agreement (WLR Foods Inc)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.26, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees then due and payable, then to all commitment and other fees and any commissions then due and payable, then to accrued and unpaid interest on the Notes Note, the Reimbursement Obligation and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), then to the principal amount of the Notes, in that orderNote and Reimbursement Obligation.

Appears in 1 contract

Samples: Loan Agreement (Washington Homes Inc)

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Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees ’s fees, if any, then due and payable, then to all commitment facility and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes, and then to the principal amount of the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata ratably in accordance with all such amounts due), then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (Roanoke Electric Steel Corp)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees of the Agent or Issuing Lender then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), and then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (Medcath Inc)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.02, all payments received by the Lenders Lender upon the Notes Note and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Agent's fees then due and payablepayable hereunder, then to all commitment and other fees and commissions then due and payablepayable hereunder, then to accrued and unpaid interest on the Notes Note and any termination payments due in respect of a Hedging Agreement Swap Contract with Lender or any Lender (pro rata in accordance with all such amounts due)of its Affiliates, then to the principal amount of the NotesNote, in that order.

Appears in 1 contract

Samples: Credit Agreement (Intercontinentalexchange Inc)

Crediting of Payments and Proceeds. In the event that the Borrower shall fail to pay any of the Obligations when due and the Obligations have been accelerated pursuant to Section 10.211.2, all payments received by the Lenders upon the Notes and the other Obligations and all net proceeds from the enforcement of the Obligations shall be applied first to all expenses then due and payable by the Borrower hereunder, then to all indemnity obligations then due and payable by the Borrower hereunder, then to all Administrative Agent's fees then due and payable, then to all commitment and other fees and commissions then due and payable, then to accrued and unpaid interest on the Notes and any termination payments due in respect of a Hedging Agreement with any Lender (pro rata in accordance with all such amounts due), ) and then to the principal amount of the Notes, in that order.

Appears in 1 contract

Samples: Credit Agreement (Northland Cable Properties Six LTD Partnership)

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