Common use of Application of Amounts Clause in Contracts

Application of Amounts. The Relevant Obligors shall ensure that all amounts withdrawn or transferred from any Account or sub-account by the Relevant Obligors for application in or towards making a specific payment or meeting a specific liability shall be applied in or towards making that payment or meeting that liability, and for no other purpose.

Appears in 2 contracts

Sources: Senior Facilities Agreement (Melco Crown Entertainment LTD), Senior Facilities Agreement (Melco Crown Entertainment LTD)

Application of Amounts. The Relevant Obligors shall ensure that all amounts withdrawn or transferred from any Account or sub-account by the Relevant Obligors for application in or towards making a specific payment or meeting a specific liability shall be applied in or towards making that payment or meeting that liability, and for no other purpose.

Appears in 1 contract

Sources: Loan Agreement (Melco Crown Entertainment LTD)