Common use of Application of Repayments Clause in Contracts

Application of Repayments. Any repayments pursuant to this Section 2.8.3 shall be (i) subject to Section 3.4, and (ii) applied first, to any Reference Rate Committed Loans then outstanding and second, to any Daily Simple SOFR Rate Loans then outstanding and, third, to any Term SOFR Rate Loans then outstanding (in order of the shortest Interest Periods remaining); and fourth, to any Bid Loans then outstanding (in the order of the shortest Interest Periods remaining).

Application of Repayments. Any repayments pursuant to this Section 2.8.3 shall be (i) subject to Section 3.4, and (ii) applied first, to any Reference Base Rate Committed Loans then outstanding and outstanding; second, to any Daily Simple SOFR Rate Loans then outstanding and, outstanding; and third, to any Term SOFR Rate Committed Loans then outstanding (in order of the shortest Interest Periods remaining); and fourth, to any Bid Loans then outstanding (in the order of the shortest Interest Periods remaining).