Example ContractsClausesApplication of Prepayments
Application of Prepayments
Application of Prepayments contract clause examples

Application of Prepayments. All principal amounts paid pursuant to Section 3.3(a) shall be applied as directed by the Borrowers. All principal amounts paid pursuant to Section 3.3(a) the application of which has not been directed by the Borrowers and all principal amounts required to be paid pursuant to Section 3.3(b) shall be applied first to Base Rate Loans, then to Eurodollar Loans in direct order of Interest Period maturities. All prepayments hereunder shall be subject to Section 3.14; provided that prepayments required to be made pursuant to Section 3.3(b) that repay a Eurodollar Loan within 30 days of the last day of its Interest Period shall not be subject to Section 3.14.

Application of Prepayments. Each prepayment required to be made pursuant to [Section 2.05(b)] shall be applied as a mandatory prepayment of principal of first the outstanding Swing Line Loans and second the outstanding Revolving Credit Loans.

Application of Prepayments. All prepayments shall be applied to the outstanding Term Loans on a pro rata basis in accordance with the amount of Term Loans held by each Lender. Amounts to be applied pursuant to this [Section 2.09] to the prepayment of Term Loans shall be applied, first, to reduce outstanding ABR Loans and, second, to reduce outstanding Eurodollar Loans, unless otherwise directed by the Borrower. Each prepayment shall be accompanied by any amount required to be paid pursuant to [Section 8.05]. Notwithstanding anything herein to the contrary, if any prepayment of a Eurodollar Loan is required to be made under this [Section 2.09] prior to the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit with the Agent the amount of any such prepayment otherwise required to be made hereunder until the last day of such Interest Period, at which time the Agent shall be authorized (without any further action by or notice to or from the Borrower) to apply such amount to the prepayment of such Loans in accordance with this [Section 2.09].

Application of Prepayments. Any prepayment pursuant to [Section 2.10] of a Borrowing of any Class following the Existing Commitment Termination Date shall be applied ratably as between the then outstanding Non-Extended Loans and Extended Loans, and shall reduce the subsequent scheduled repayments of the Borrowings of such Class to be made pursuant to [Section 2.09(a)(i) or (ii)])] in the manner specified by the Borrower in the applicable notice of prepayment (or, if no such specification is made therein, such prepayment shall reduce the subsequent scheduled repayments of the Borrowings of such Class ratably based on the amount of such scheduled repayments).

Application of Prepayments. Any voluntary prepayments of Notes pursuant to Section 2.12 and any mandatory prepayment of any Notes pursuant to Section 2.13 shall be applied as follows:

Prior to any optional or mandatory prepayment of Borrowings hereunder, the Lead Borrower or Canadian Borrower, as applicable, shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to this paragraph # of this [Section 2.09(c)]. Unless during a Liquidity Period, except as provided in [Section 2.09(b)(iii)] hereof, all mandatory prepayments shall be applied as follows: first, to fees and reimbursable expenses of the Administrative Agent then due and payable pursuant to the Credit Documents; second, to interest then due and payable on the Borrowers’ Swingline Loans; third, to the principal balance of the Swingline Loan outstanding until the same has been prepaid in full; fourth, to interest then due and payable on the Revolving Loans and other amounts due pursuant to [Sections 3.02 and 5.01]1]; fifth, to the principal balance of the Revolving Loans (excluding the U.S.any FILO Revolving Loans) until the same have been prepaid in full; sixth, to the principal balance of the U.S. FILO Revolving Loans until the same have been prepaid in full; seventh, to Cash Collateralize all LC Exposure plus any accrued and unpaid interest thereon (to be held and applied in accordance with [Section 2.13(j)] hereof); eighth, to all other Obligations pro rata in accordance with the amounts that such Lender certifies is outstanding; and ninth, as required by the Intercreditor Agreement or, in the absence of any such requirement, returned to the Lead Borrower or to such party as otherwise required by law.

Application of Prepayments. Each prepayment shall be applied first to outstanding Base Rate Loans until paid in full and thereafter to outstanding Eurodollar Rate Loans.

Application of Prepayments. Borrower agrees that all loan fees and other prepaid charges are earned fully as of the date of this Note and will not be subject to refund, except as required by law. Subject to any prepayment fee and other conditions provided herein, Borrower may pay all or a portion of the amount owed before it is due. Prepayment in full shall consist of payment of the remaining unpaid principal balance together with all accrued and unpaid interest and all other amounts, costs and expenses for which Borrower is responsible under this Note or any other agreement with Lender pertaining to this loan before such amounts are due, whether such prepayment arises from a voluntary or involuntary

Application of Prepayments. Within each Loan, prepayments will be applied first to Base Rate Loans, then to Eurodollar Rate Loans in direct order of Interest Period maturities. In addition:

Application of Prepayments. If principal under this Note is payable in more than one installment, then any prepayments of principal shall be applied to the most remote principal installment or installments then unpaid.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.