Common use of Manner and Application of Payments Clause in Contracts

Manner and Application of Payments. All payments of principal and/or interest on the Loan, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas time) in immediately available funds. Should any payment required hereby become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan so long as no Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan (including principal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the Loan, and third, to the remaining Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the Obligation, if any, for which Borrower or any other Person has no personal, membership or corporate liability, if any, and then to the remaining Obligation.

Manner and Application of Payments. All payments pay­ments of principal and/or and interest on the LoanTerm Note, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas Eastern Standard time) in federal or other immediately available funds, without setoff, counterclaim or deduction for any reason. Should any payment required hereby or under any other Loan Document become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas Eastern Standard time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan Term Loan, so long as no Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Term Loan (including principalprinci­pal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the Term Loan, and third, to the remaining Obligation Obligations in such order and manner as Lender may determine, any instructions from Borrow­er or any other Person to the contrary notwithstanding. All payments made on the Term Note, so long as an Event of Default has occurred and is continu­ing, shall be applied to the Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstandingnotwithstand­ing. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the ObligationObligations, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining ObligationObligations.

Manner and Application of Payments. All payments pay­ments of principal and/or and interest on the LoanNote, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas Eastern Standard time) in federal or other immediately available funds, without setoff, counterclaim or deduction for any reason. Should any payment required hereby or under any other Loan Document become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas timeEastern Standard Time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan Revolving Credit Facility, so long as no Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan Revolving Credit Facility (including principalprinci­pal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the LoanRevolving Credit Facility, and third, to any remaining Obligations in such order and manner as Lender may determine, any instructions from Borrow­er or any other Person to the remaining Obligation contrary notwithstanding. All payments made on the Note, so long as an Event of Default has occurred and is continu­ing, shall be applied to the Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstandingnotwithstand­ing. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the ObligationObligations, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining ObligationObligations.

Manner and Application of Payments. All payments of principal and/or and interest on the LoanNote, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas Eastern Standard time) in federal or other immediately available funds, without setoff, counterclaim or deduction for any reason. Should any payment required hereby or under any other Loan Document become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas timeEastern Standard Time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan Revolving Credit Facility, so long as no Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan Revolving Credit Facility (including principal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the LoanRevolving Credit Facility, and third, to the any remaining Obligation Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while Note, so long as an Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the ObligationObligations, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining ObligationObligations.

Manner and Application of Payments. All payments of principal and/or of and interest on the Loan, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas time) in federal or other immediately available funds. Should any payment required hereby become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan so long as no Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan (including principal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the Loan, and third, to the remaining Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the Obligation, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining Obligation.

Manner and Application of Payments. All payments of principal and/or of and interest on the Loan, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 1:00 p.m. (Dallas, Texas time) in federal or other immediately available funds. Should any payment required hereby become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 1:00 p.m. (Dallas, Texas time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan so long as no Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan (including principal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the Loan, and third, to the remaining Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the Obligation, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining Obligation.

Manner and Application of Payments. All payments of principal and/or and interest on the LoanNote, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, shall be made by Borrower to Lender, before 2:00 p.m. (Dallas, Texas Eastern Standard time) in federal or other immediately available funds, without setoff, counterclaim or deduction for any reason. Should any payment required hereby or under any other Loan Document become due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas timeEastern Standard Time) shall be treated for all purposes as having been received by Lender on the first Business Day next following receipt of such funds. All payments made on the Loan Revolving Credit Facility, so long as no Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan Revolving Credit Facility (including principalprinci­pal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the LoanRevolving Credit Facility, and third, to the any remaining Obligation Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while Note, so long as an Event of Default has occurred and is continuing continuing, shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation Obligations in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion of the ObligationObligations, if any, for which Borrower or any other Person has no personal, membership partnership or corporate liability, if any, and then to the remaining ObligationObligations.

Manner and Application of Payments. All payments of principal and/or and interest on the Loan, and of all other amounts payable under this Loan Agreement or the other Loan Documents by Borrower to or for the account of Lender, Notes shall be made by Borrower to Lender, Lender before 2:00 o'clock p.m. (DallasMidland, Texas time) ), in lawful money of the United States of America and in immediately available funds, at Lender's principal office in Midland, Texas or as Lender and Borrower may agree. Should Payments received by Lender at or before 2:00 o'clock p.m. (Midland, Texas, time) shall be applied in reduction of the Obligation on and as of such date for the benefit of Borrower. In any case where a payment required hereby become of principal or interest on the Notes, or any commitment or other fee, is due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. Funds received after 2:00 p.m. (Dallas, Texas time) but interest shall be treated for all purposes as having been received by Lender on continue to accrue until the first Business Day next following receipt of such fundspayment is in fact made. All payments made and prepayments, if any, on the Obligation, including proceeds from the exercise of any Rights under the Loan so long as no Event Papers or proceeds of Default has occurred and is continuing any of the Collateral, shall be applied (except as may be otherwise required by applicable Governmental Requirements) first to any payment on the Loan (including principal, interest, costs, fees and expenses) then due and owing, second to any past-due payment on the Loan, and third, to the remaining Obligation in such order and manner as Lender may determine, any instructions from Borrower or any other Person to the contrary notwithstanding. All payments made on the Loan while an Event of Default has occurred and is continuing shall be applied (except as may be otherwise required by applicable Governmental Requirements) to the Obligation in such the order deemed appropriate by Lender, but Lender shall always retain the right to apply same in the following order: (i) to expenses for which Lender shall not have been reimbursed under the Loan Papers and manner as then to all indemnified amounts due Lender may determine, any instructions from Borrower or any other Person to under the contrary notwithstanding. Subject to the foregoing limitations, Lender may, in its sole and absolute discretion, apply payments first to satisfy the portion terms of the Obligation, if any, for which Borrower or any other Person has no personal, membership or corporate liability, if any, Loan Papers; (ii) to accrued and then unpaid interest on the Notes; (iii) to principal of the Notes; and (iv) to the remaining Obligation.