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Application
Application contract clause examples
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Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this [Section 2.14] or [Sections 2.03, 2.05, 2.15 or 8.02]2]2] in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Revolving [[Organization A:Organization]] that is a Defaulting [[Organization A:Organization]], any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may be provided for herein.

Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this [Section 2.22] or [Section 2.23] shall be held and applied to the complete satisfaction of the specific LC Obligations, Swingline Loans or obligations to fund participations therein for which the Cash Collateral was so provided by such Borrower, prior to any other application of such property to Obligations of such Borrower as may be provided for herein. The amount of any outstanding Swingline Loans or Reimbursement

Payment Application. Each payment hereunder shall be applied first towards unpaid fees (if any) and then towards principal. Each payment to the Holder under this Note shall be paid at such place as the Holder may from time to time direct.

Prepayment Application. Each prepayment of the Loans by the Borrower pursuant to this Section 3 shall be applied first, to accrued but unpaid interest and fees on the principal amount being prepaid, and second, the balance to the principal amount of the Loans.

Erroneous Application Agent shall not be liable for any application of amounts made by it in good faith and, if any such application is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made shall be to recover the amount from the Person that actually received it (and, if such amount was received by any Lender, such Lender hereby agrees to return such amount to Agent)

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).

So long as no Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting Lenders, all principal and interest payments received by Agent shall be apportioned ratably among the Lenders (according to the unpaid

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 Funds. After the exercise of remedies provided for in [Section 8.02] (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to [Section 8.02]) or if at any time insufficient funds are received by and available to the Administrative Agent to pay fully all Obligations then due hereunder, any amounts received on account of the Obligations shall, subject to the provisions of [Sections 2.14 and 2.15]5], be applied by the Administrative Agent in the following order:

Application of Funds. The proceeds received by the Company from the sale of Common Stock pursuant to the exercise of an Option shall be used for general corporate purposes.

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