Common use of Application and Allocation of Payments Clause in Contracts

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the Lender shall have the continuing exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) then due and payable Fees, expenses and other Obligations; (ii) then due and payable interest payments on the Term Loan; (iii) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments. and The Lender is authorized to, and at its option may, make or cause to be made expenditures by the Lender on behalf of the Borrower for payment of all Fees, expenses, charges, costs, principal, interest or other Obligations then due and payable by the Borrower under this Agreement or any of the Credit Documents, and the Borrower agrees to immediately reimburse the Lender for such amounts.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g(a) and (h), upon the occurrence and continuance of an Event of Default, the Borrower hereby irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, Borrower and the Borrower hereby irrevocably agrees that the Lender Agent shall have the continuing exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans Revolving Credit Loan, Letter of Credit Obligations, the Term Loan and the Capital Expenditure Loan, as the Lender Agent may deem advisableadvisable notwithstanding any previous entry by Agent upon the Loan Account or any other books and records. In the absence of a specific determination by the Lender Agent with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) to then due and payable Fees, expenses Fees and other Obligationsexpenses; (ii) to then due and payable interest payments on the Term Loan, the Capital Expenditure Loan and on the Revolving Credit Loan; (iii) then due to Obligations other than Fees, expenses and payable interest payments on the Revolving Loansand principal payments; and (iv) to then due and payable principal payments on the Term Loan; , the Capital Expenditure Loan and the Revolving Credit Loans, and (v) amounts to all other then outstanding under the Revolving Loan; due and (vi) Obligations to Lender other than Fees, expenses and interest and principal paymentspayable Obligations. and The Lender Agent is authorized to, and and, upon the expiration of the applicable time period, if any, set forth in Section 8.1, at its option may, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for payment of all Fees, expenses, chargesCharges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the other Loan Documents if and to the extent Borrower fails to promptly pay any such amounts as and when due, even if such Revolving Credit DocumentsAdvance would cause total Revolving Credit Advances to exceed Borrowing Availability or the Maximum Revolving Credit Loan amount. At Agent's option and to the extent permitted by law, and any advances so made shall be deemed Revolving Credit Advances constituting part of the Borrower agrees to immediately reimburse the Lender for such amountsRevolving Credit Loan hereunder.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the Lender shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans Obligations, as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (ia) then due and payable Fees, expenses Fees and other Obligationsexpenses; (iib) then due and payable interest payments on the Term Loanpayments; (iiic) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments; and (d) then due and payable principal payments on the Revolving Credit Loan. and The Lender is authorized to, and at its option maymay (without notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for for: (x) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the Credit other Loan Documents, (y) the payment, performance or satisfaction of any of Borrower's obligations with respect to preservation of the Collateral or otherwise under this Agreement, or (z) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan to exceed the Borrowing Availability, and the Borrower agrees to immediately reimburse repay immediately, in cash, any amount by which the Lender for such amountsRevolving Credit Loan exceeds the Borrowing Availability.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the -------------------------------------- Lender shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans Obligations, as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (ia) then due and payable Fees, expenses Fees and other Obligationsexpenses; (iib) then due and payable interest payments on the Term Loanpayments; (iiic) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments; and (d) then due and payable principal payments on the Revolving Credit Loan. and The Lender is authorized to, and at its option maymay (without notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for for: (x) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the Credit other Loan Documents, (y) the payment, performance or satisfaction of any of Borrower's obligations with respect to preservation of the Collateral or otherwise under this Agreement, or (z) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan to exceed the Borrowing Availability, and the Borrower agrees to immediately reimburse repay immediately, in cash, any amount by which the Lender for such amountsRevolving Credit Loan exceeds the Borrowing Availability.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Each Borrower irrevocably agrees that the Lender shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans such order as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) then due and payable Fees, expenses and other Obligations; (ii) then due and payable interest payments on the Term Loan; (iii) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments. and The Lender is authorized to, and at its option maymay (without prior notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the any Borrower for for: (a) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the such Borrower under this Agreement or any of the Credit other Loan Documents, (b) the payment, performance or satisfaction of any of such Borrower's obligations with respect to preservation of the Collateral, or (c) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Domestic Revolving Credit Loan attributable to any Borrower to exceed such Borrower's Domestic Borrowing Availability or the Foreign Revolving Credit Loan to exceed Leading Borrower's Foreign Borrowing Availability, and the each Borrower agrees to immediately reimburse the Lender for repay immediately, in cash, any amount by which such amountsBorrower's Domestic Revolving Credit Loan exceeds such Borrower's Domestic Borrowing Availability, and Leading Borrower agrees to repay immediately, in cash, any amount by which Foreign Revolving Credit Loan exceeds Leading Borrower's Foreign Borrowing Availability.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the Lender Agent shall have the continuing exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans Revolving Credit Loan and Letter of Credit Obligations, as the Lender Agent may deem advisable, notwithstanding any previous entry by Agent upon the Loan Account or any other books and records. In the absence of a specific determination by the Lender Agent with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) to then due and payable Fees, Fees and expenses and other Obligationspayable to Agent or any Lender; (ii) to then due and payable interest payments on the Term Loanpayments; (iii) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) to Obligations to Lender other than Fees, expenses and interest and principal payments; and (iv) to then due and payable principal payments on the Revolving Credit Loan. and The Lender Agent is authorized to, and at its option may, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for payment of all Fees, expenses, chargesCharges, costs, principal, interest or other Obligations then due and payable owing by the Borrower under this Agreement or any of the other Loan Documents if and to the extent Borrower fails to promptly pay any such amounts as and when due, even if such Revolving Credit DocumentsAdvance would cause total Revolving Credit Advances to exceed Borrowing Availability or the Maximum Revolving Credit Loan. At Agent's option and to the extent permitted by law, and any advances so made shall be deemed Revolving Credit Advances constituting part of the Borrower agrees to immediately reimburse the Lender for such amountsRevolving Credit Loan hereunder.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the Lender shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans such order as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) then due and payable Fees, expenses and other Obligations; (ii) then due and payable interest payments on the Term Loan; (iii) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments. and The Lender is authorized to, and at its option maymay (without prior notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for Borrower, for: (a) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the other Loan Documents; (b) the payment, performance or satisfaction of any of Borrower’s obligations with respect to preservation of the Collateral; (c) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement; or (d) the partial repayment of the EDC Loan, on the date that certain manufactured goods in respect of which Borrower had paid a Foreign Production Deposit are listed on a bxxx of lading and therefore become (with the agreement of Lender) Eligible Inventory, at which time Lender will repay a portion of the EDC Loan in an amount equal to the Foreign Production Deposit paid by Borrower for those manufactured goods now determined to be Eligible Inventory, even if the making of any such Revolving Credit DocumentsAdvance causes the outstanding balance of the Revolving Credit Loans to exceed the Borrowing Availability, and the Borrower agrees to immediately reimburse repay immediately, in cash, any amount by which the Lender for such amountsRevolving Credit Loans exceeds the Borrowing Availability.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably agrees that the Lender Lxxxxx shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans such order as the Lender may deem advisableadvisable subject to Section 7.5. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (i) then due and payable Fees, expenses and other Obligations; (ii) then due and payable interest payments on the Term Loan; (iii) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments. and The Lender is authorized to, and at its option maymay (without prior notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for Borrower, for: (a) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the other Loan Documents; (b) the payment, performance or satisfaction of any of Borrower’s obligations with respect to preservation of the Collateral; (c) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement; or (d) the full repayment of the Contract Revolver Loan on the Stated Expiry Date; even if the making of any such Revolving Credit DocumentsAdvance causes the outstanding balance of the Revolving Credit Loan to exceed the Operating Loan Borrowing Availability, and the Borrower agrees to immediately reimburse repay immediately, in cash, any amount by which the Lender for such amountsRevolving Credit Loan exceeds the Operating Loan Borrowing Availability.

Application and Allocation of Payments. Subject to the provisions of Section 4.2(g) and (h), upon the occurrence and continuance of an Event of Default, the Borrower irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received from or on behalf of the Borrower, and the Borrower irrevocably -------------------------------------- agrees that the Lender shall have the continuing and exclusive right to apply any and all such payments against the then due and payable Obligations of the Borrower and in repayment of the Loans Obligations, as the Lender may deem advisable. In the absence of a specific determination by the Lender with respect thereto, and prior to the occurrence and continuance of an Event of Default, the same shall be applied in the following order: (ia) then due and payable Fees, expenses Fees and other Obligationsexpenses; (iib) then due and payable interest payments on the Term Loanpayments; (iiic) then due and payable interest payments on the Revolving Loans; (iv) then due and payable principal payments on the Term Loan; (v) amounts then outstanding under the Revolving Loan; and (vi) Obligations to Lender other than Fees, expenses and interest and principal payments; and (d) then due and payable principal payments on the Revolving Credit Loan. and The Lender is authorized to, and at its option maymay (without notice or precondition and at any time or times), but shall not be obligated to, make or cause to be made expenditures by the Lender Revolving Credit Advances on behalf of the Borrower for for: (x) payment of all Fees, expenses, indemnities, charges, costs, principal, interest interest, or other Obligations then due and payable owing by the Borrower under this Agreement or any of the Credit other Loan Documents, (y) the payment, performance or satisfaction of any of Borrower's obligations with respect to preservation of the Collateral or otherwise under this Agreement, or (z) any premium in whole or in part required in respect of any of the policies of insurance required by this Agreement, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan to exceed the Borrowing Availability, and the Borrower agrees to immediately reimburse repay immediately, in cash, any amount by which the Lender for such amountsRevolving Credit Loan exceeds the Borrowing Availability.