Common use of Application of Conversion Amounts Clause in Contracts

Application of Conversion Amounts. Unless otherwise specified by any Lender or set forth herein, any amounts converted by any Lender pursuant to subsection (i) or paid by the Borrower shall be deemed to constitute payments of and applied, (1) first, to any amounts owed other than accrued and unpaid Interest, (2) second, against accrued and unpaid Interest, and (3) third, against the Principal.

Application of Conversion Amounts. Unless otherwise specified by any Lender or set forth herein, any amounts converted by any Lender pursuant to subsection (i) or paid by the Borrower shall be deemed to constitute payments of and applied, (1) first, to any amounts owed other than accrued and unpaid Interest, Interest (2) second, against accrued and unpaid Interest, and (3) third, against the Principal.

Application of Conversion Amounts. Unless otherwise specified by any Lender Any amounts paid or set forth herein, any amounts converted by any Lender pursuant to subsection (i) or paid by the Borrower pursuant to Section 2.1(b) shall be deemed to constitute payments of and applied, applied (1i) first, to any amounts owed other than accrued and unpaid Interestagainst outstanding fees, (2ii) second, against accrued and unpaid Interestinterest on the Principal Amount, and (3iii) third, against the PrincipalPrincipal Amount.