Application of Money Collected Sample Clauses

The "Application of Money Collected" clause defines how any funds received, typically from a borrower or debtor, are to be allocated among various outstanding obligations. In practice, this clause specifies the order in which payments are applied, such as first to cover accrued interest, then principal, and finally any fees or costs. By establishing a clear hierarchy for the application of payments, this clause ensures transparency and prevents disputes over how collected money is distributed, thereby protecting the interests of the party entitled to receive payment.
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Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (and premium, if any), interest or any Additional Amounts, upon presentation of the Securities or Coupons, or both, as the case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. Any money collected by the Trustee in accordance with this Article IV or, after an Event of Default, any money or other property distributable in respect of the Company’s obligations under this Indenture will be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any interest, upon presentation of the Subordinated Notes and the notation on such Subordinated Notes of the payment if only partially paid and upon surrender of such Subordinated Notes if fully paid:
Application of Money Collected. Any money collected by the Trustee pursuant to this Article VI shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Notes and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. Any money collected by the Trustee pursuant to this Article Five with respect to the Securities of any series shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, or any premium, interest or Additional Amounts, upon presentation of such Securities or the Coupons, if any, appertaining thereto, or both, as the case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. Subject to Article XII, any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest (including any Additional Payments), upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. Subject to Article 13, any money and property collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money and property on account of principal or premium, if any, or interest (including Liquidated Damages, if any), upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
Application of Money Collected. If the Bonds have been declared due and payable following an Event of Default and such declaration and its consequences have not been rescinded and annulled, any money collected by the Indenture Trustee with respect to such Bonds pursuant to this Article or otherwise and any other monies that may then be held or thereafter received by the Indenture Trustee as security for such Bonds shall be applied in the following order, at the date or dates fixed by the Indenture Trustee and, in case of the payment of the entire amount due on account of principal of, and interest on, such Bonds, upon presentation and surrender thereof: (i) first, to the Indenture Trustee, any unpaid Indenture Trustee's Fees then due and any other amounts payable and due to the Indenture Trustee under this Indenture, including any costs or expenses incurred by it in connection with the enforcement of the remedies provided for in this Article V; (ii) second, to the Servicer, any amounts required to pay the Servicer for any unpaid Monthly Servicing Fees then due and to reimburse the Servicer for Monthly Advances previously made by, and not previously reimbursed or retained by, the Services and, upon the final liquidation of the related Mortgage Loan or the final liquidation of the Trust Estate, Servicing Advances previously made by, and not previously reimbursed or retained by, the Servicer; (iii) third, to the payment of the applicable Bond Interest and Interest Carry Forward Amount, if any, then due and unpaid upon the Outstanding Class A Bonds through the day preceding the date on which such payment is made; (iv) fourth, to the payment of the Bond Balance of the Outstanding Class A Bonds, up to the amount of Current Bond Balances of the Class A Bonds, ratably, without preference or priority of any kind; (v) fifth, to the payment of the applicable Bond Interest and Interest Carry Forward Amount, if any, then due and unpaid upon the Outstanding Class M-1 Bonds through the day preceding the date on which such payment is made; (vi) sixth, to the payment of the Bond Balance of the Outstanding Class M-1 Bonds, up to the amount of the Current Bond Balances of the Class M-1 Bonds, ratably, without preference or priority of any kind; (vii) seventh, to the payment of the applicable Bond Interest and Interest Carry Forward Amount, if any, then due and unpaid upon the Outstanding Class M-2 Bonds through the day preceding the date on which such payment is made; (viii) eighth, to the payment of the B...
Application of Money Collected. If the Trustee collects any money or property pursuant to this Article Six, it shall pay out the money or property in the following order:
Application of Money Collected. Subject to the provisions of Article Fifteen, any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or premium, if any, or interest, if any, upon presentation of the Securities in respect of which or for the benefit of which such money shall have been collected and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: