Common use of Application of payments — post-default Clause in Contracts

Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.

Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the Borrower towards satisfaction of the Borrower’s 's obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.

Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by the each Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.

Application of payments — post-default. If an Event of Default subsists, the Financier may apply amounts paid by [the / each] Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents in the manner it sees fit, unless the Financing Documents expressly provide otherwise. This appropriation overrides any purported appropriation by the Borrower or any other person.