Payment Cascade Sample Clauses
A Payment Cascade clause establishes the order in which payments are distributed among various parties when funds are received or available. Typically, it sets a hierarchy where certain creditors or stakeholders are paid first, such as senior lenders, followed by junior lenders, and finally equity holders if any funds remain. This structure ensures that higher-priority claims are satisfied before lower-priority ones, providing clarity and predictability in the allocation of payments and reducing disputes over entitlement.
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Payment Cascade. Subject to clause 28.8(c) and clause 28.8(e), the Borrower shall apply the amounts standing to the credit of the Offshore Revenue Account in the following order of priority:
Payment Cascade. If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under the Finance Documents, the Facility Agent shall apply that payment towards amounts due from the Borrower to the Finance Parties in the order of priority contemplated by the Payment Cascade.
Payment Cascade. Payment Cascade prior to Enforcement Date