Common use of Prepayment Application Clause in Contracts

Prepayment Application. Prepayments shall be applied to the installments of principal in the inverse order of their maturity and, in cases where more than one Note is outstanding, pro rata to each Note.

Appears in 1 contract

Sources: Credit Agreement (Viasat Inc)

Prepayment Application. Prepayments shall be applied to the installments of the outstanding principal amount of the Commitment in the inverse order of their maturity and, in cases where more than one Note is outstanding, pro rata to each Note.

Appears in 1 contract

Sources: Credit Agreement (BETA Technologies, Inc.)