Application of Payments. Each prepayment pursuant to [[Section 2.4(e)(i), (ii), or (iii)])])]])])] shall, # so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in full, and second, to cash collateralize the Letters of Credit in an amount equal to 103% of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied in the manner set forth in [Section 2.4(b)(iii)].

Application of Payments. Each prepayment pursuant to [[Section[Section 2.4(e)(i), (ii), or (iii)])])]])])] shall, # so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in full, and second, to cash collateralize the Letters of Credit in an amount equal to 103%105% of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied in the manner set forth in [Section 2.4(b)(iii)ii)].

Each prepayment pursuant to [[Section[Section 2.4(e)(i), (ii), or (iii)])])]])])] shall, # so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in full, and second, to cash collateralize the Lettersprovide Letter of Credit in an amount equalCollateralization with respect to 103% of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied in the manner set forth in [Section 2.4(b)(iii)ii)].

Application of Payments. EachSubject to [Sections 2.4(b)(iii) and (iv)])], each prepayment pursuant to [[Section[Section 2.4(e)(i), (ii), or (iii)])])]])]) through (v)] shall, # so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving LoansAdvances until paid in full,full (without a permanent reduction in the Lenders’ commitment to lend or extend credit under this Agreement), and second, only if an Event of Default exists, to cash collateralize the Letters of Credit in an amount equal to 103%one hundred five percent (105%) of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied in the manner set forth in [Section 2.4(b)(iii)ii)].

Application of Other Payments. Each prepaymentExcept as otherwise provided in [Section 2.15], prepayments of the Revolving Facility made pursuant to this [Section 2.05(b)], first, shall be applied ratably to the L/C Borrowings and the Swingline Loans, second, shall be applied to the outstanding Revolving Loans, and, third, shall be used to Cash Collateralize the remaining L/C Obligations; and, in the case of prepayments of the Revolving Facility required pursuant to [[clause (i) or (ii) of this Section 2.4(e)(i), (ii), or (iii)])05(b)])]])])] shall, # so long as no Application Event shall have occurred, the amount remaining, if any, after the prepayment in full of all L/C Borrowings, Swingline Loans and be continuing, be applied, first, toRevolving Loans outstanding at such time and the outstanding principal amountCash Collateralization of the Revolving Loans until paidremaining L/C Obligations in full, and second, to cash collateralizefull may be retained by the Letters of Credit in an amount equal to 103% of the then outstanding Letter of Credit Usage, and # if an Application Event shall have occurred and be continuing, be applied​ for use in the manner set forth in [Section 2.4(b)(iii)].ordinary course of its business.