Application of Moneys Sample Clauses
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Application of Moneys. (a) Any moneys received by the Trustee for the benefit of Bondholders, by any receiver or by any Bondholder pursuant to any right given or action taken under the provisions of this Article XI, after payment of the costs and expenses of the proceedings resulting in the collection of such moneys and of the fees, expenses, liabilities and advances incurred or made by the Trustee (including without limitation reasonable fees and reasonable expenses of its attorneys), shall be deposited in the Revenue Fund and all moneys so deposited in the Revenue Fund during the continuance of an Event of Default shall be applied (i) first, to the payment to the persons entitled thereto of all installments of interest then due on the Bonds, with interest on overdue installments, if lawful, at the rate per annum borne by the Bonds, as the case may be, in the order of maturity of the installments of such interest (if the amount available for such interest installments shall not be sufficient to pay in full any particular installment of interest, then to the payment ratably, according to the amounts due on such installment), and if the amount available for such interest shall not be sufficient to make payment thereof, then to the payment thereof ratably according to the respective aggregate amounts due and (ii) second, to the payment to the persons entitled thereto of the unpaid principal, as applicable, of any of the Bonds which shall have become due with interest on such Bonds at their respective rate from the respective dates upon which they became due (if the amount available for such unpaid principal and interest shall not be sufficient to pay in full Bonds due on any particular date, together with such interest, then to the payment ratably, according to the amount of principal and interest due on such date, in each case to the persons entitled thereto, without any discrimination or privilege among Holders of Bonds), and, if the amount available for such principal and interest shall not be sufficient to make full payment thereof, then to the payment thereof ratably according to the respective aggregate amounts due.
(b) Whenever moneys are to be applied pursuant to the provisions of this Section 11.10, such moneys shall be applied at such times, and from time to time, as the Trustee shall determine, having due regard to the amount of such moneys available for application and the likelihood of additional moneys becoming available for such application in the future. Whenever t...
Application of Moneys. (a) Subject to Section 5, the Subordinated Guarantee Agent shall have the right at any time to apply moneys held by it in the Guarantee Collection Account to the payment of due and unpaid Subordinated Guarantee Agent Fees. The Subordinated Guarantee Agent shall provide written notice to the Ultimate Parent and each Administrative Agent of any such application of moneys. Until all due and unpaid Subordinated Guarantee Agent Fees are fully paid in cash or otherwise satisfied, the Subordinated Guarantee Agent shall have no obligation to make any disbursements from the Guarantee Collection Account to any Credit Party. The Subordinated Guarantee Agent may reserve from deposits in the Guarantee Collection Account an amount necessary, determined in the reasonable discretion of the Subordinated Guarantee Agent, to satisfy any asserted contingent indemnity or reimbursement claims for which it would be entitled to reimbursement pursuant to Section 7 (upon the liquidation of such claims), which reserved amount (x) may be applied by the Subordinated Guarantee Agent to pay any such indemnity or reimbursement claims upon the liquidation thereof and (y) shall not be disbursed to any Credit Party until such indemnity or reimbursement claims are either liquidated and paid in full or otherwise satisfied. The Subordinated Guarantee Agent shall provide written notice to the Ultimate Parent of any such reserved amount, including a description of such contingent indemnity or reimbursement claims. The agreements in this Section 6.2(a) shall survive the termination of the other provisions of this Agreement and the resignation or removal of the Subordinated Guarantee Agent hereunder and, notwithstanding any such event, any amounts reserved pursuant to this Section 6.2(a) shall continue to be held by the Subordinated Guarantee Agent until the earlier of (i) application in accordance with this Section 6.2(a) and (ii) such time as such contingent indemnity or reimbursement claim has been extinguished, to the extent that such amounts reserved exceed any remaining asserted contingent indemnity or reimbursement claims as determined by the Subordinated Guarantee Agent in its reasonable discretion.
Application of Moneys. Any moneys collected by OBDD pursuant to section 8.A will be applied first, to pay any attorneys’ fees and other fees and expenses incurred by OBDD; then, as applicable, to repay any Grant proceeds owed; then, to pay other amounts due and payable under this Contract, if any.
Application of Moneys. All moneys received by the Trustee pursuant to any right given or action taken under the provisions of this Article shall, after payment of the cost and expenses of the proceedings resulting in the collection of such moneys and of the fees, expenses, liabilities and advances incurred or made by the Trustee or the Issuer, be deposited in the Bond Fund and all moneys in the Bond Fund shall be applied as follows:
(a) Unless the principal of all the Bonds shall have become or shall have been declared due and payable, all such moneys shall be applied:
Application of Moneys. All moneys received by the Trustee under these presents shall be held by the Trustee upon trust to apply them (subject to clause 12):
(a) First, in payment or satisfaction of all amounts then due and unpaid under these presents to the Trustee and/or any Appointee;
(b) Secondly, in or towards retention of an amount which the Trustee considers necessary to pay any amounts that may thereafter become due to be paid under these presents to it or any Appointee, to the extent it considers that moneys received by it thereafter under these presents may be insufficient and/or may not be received in time to pay such amounts;
(c) Thirdly, in or towards reimbursement pari passu and rateably of any amounts paid by any Indemnifying Parties as defined in and contemplated by clause 15.7, together with interest thereon as provided in clause 15.8;
(d) Fourthly, in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes; and
(e) Fifthly, in payment of the balance (if any) to the Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the Issuer shall be dealt with as between the Issuer, the Guarantor and any other person). Without prejudice to this clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes which have become void or in respect of which claims have been prescribed under Condition 9 (Prescription), the Trustee will hold such moneys on the above trusts.
Application of Moneys. All moneys received by way of enforcement (verhaal) by the Security Trustee of its rights under or by virtue of this Agreement shall be applied in accordance with the Trust Deed.
Application of Moneys. All moneys received by the Note Trustee in respect of the Current Issuer Notes or amounts payable under these presents will (including any moneys which represent principal or interest in respect of Current Issuer Notes which have become void under the Current Issuer Conditions) be held by the Note Trustee on trust to apply them (subject to Clause 8.3 (Authorised Investments)) in accordance with the Current Issuer Priority of Payments.
Application of Moneys. Subject to the terms of the Credit Agreement and Section 4.02 of the Collateral Agreement, all sums received by the Mortgagee pursuant to this Mortgage, any of the Loan Documents or any Relevant Swap Agreement and all sums received in connection with the taking possession and/or sale of the Vessel or any chartering or other use of the Vessel by the Mortgagee (including, without limitation, the proceeds of any claims for damages or claims on any insurance received by the Mortgagee while in possession of or while chartering or using the Vessel) shall, unless otherwise agreed by the Mortgagee or otherwise expressly provided in the Loan Documents or any Relevant Swap Agreement, be applied by it in the following order: FIRST, in or towards payment of all expenses and charges incurred by the Mortgagee in the protection and exercise of its rights, powers, discretions and remedies under or pursuant to this Mortgage (including, without limitation, any damages or losses incurred by reason of the Mortgagee’s possession, chartering or use of the Vessel) and in or towards supplying indemnity in such amount and in such form as the Mortgagee shall consider appropriate against any encumbrances having priority over or equality with this Mortgage; then SECOND, in or towards payment to the Administrative Agent or the Mortgagee of any other costs, charges and expenses incurred by it or them and recoverable from the Owner or any other Loan Party under or pursuant to the Credit Agreement, the Loan Documents or any Relevant Swap Agreement, together with interest at the rate or rates specified in the Credit Agreement, the Loan Documents or any Relevant Swap Agreement; then
Application of Moneys. Any moneys collected by the Trust or the Trustee pursuant to Section 5.03 hereof shall be applied (a) first to pay any attorneys’ fees or other fees and expenses owed by the Borrower pursuant to Section 5.04 hereof, (b) second, to the extent available, to pay the Interest Portion then due and payable, (c) third, to the extent available, to pay the principal due and payable on the Loan, (d) fourth, to the extent available, to pay the Administrative Fee, any late charges incurred hereunder or any other amounts due and payable under this Loan Agreement, and (e) fifth, to the extent available, to pay the Interest Portion and the principal on the Loan and other amounts payable hereunder as such amounts become due and payable.
Application of Moneys. All moneys received by the Agent and/or the Security Trustee under or pursuant to any of the Security Documents and expressed to be applicable in accordance with the provisions of this clause 13.1 or in a manner determined in the Security Trustee’s or (as the case may be) the Agent’s discretion, shall be applied in the following manner:
13.1.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Banks or any of them under any of the Security Documents;
13.1.2 secondly, in or towards payment of any fees payable to the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
13.1.3 thirdly, in or towards payment to the Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
13.1.4 fourthly, in or towards repayment of the Loan (whether the same is due and payable or not);
13.1.5 fifthly, in or towards payment to the Lenders, on a pro rata basis any Break Costs and any other sum relating to the Loan which shall have become due under any of the Security Documents but remains unpaid;
13.1.6 sixthly, the surplus (if any) shall be paid to the Borrowers or to whomsoever else may then be entitled to receive such surplus.