Application of Revenues Sample Clauses
The 'Application of Revenues' clause defines how any income or proceeds generated under the agreement will be allocated or used. Typically, this clause outlines the order in which revenues are distributed, such as first covering operational costs, then repaying debts, and finally distributing any remaining funds to stakeholders or partners. By specifying the precise flow and priority of revenue allocation, this clause ensures transparency and prevents disputes over financial entitlements, thereby providing clarity and structure to the management of funds.
Application of Revenues. (a) All Revenues received by the Fiscal Agent shall be deposited by the Fiscal Agent, promptly upon receipt thereof, to the Revenue Fund, except (i) the proceeds of the Funding Loan received by the Fiscal Agent pursuant to Section 2.01(b), which shall be applied in accordance with the provisions of Section 2.11 hereof; (ii) as otherwise specifically provided in subsection (c) of this Section 4.03 with respect to certain deposits into the Loan Prepayment Fund; (iii) with respect to Investment Income to the extent required under the terms hereof to be retained in the funds and accounts to which they are attributable; and (iv) with respect to amounts required to be transferred between funds and accounts as provided in this Article IV.
(b) Subject to Section 2.12 hereof, on each Interest Payment Date or any other date on which payment of principal of or interest on the Funding Loan becomes due and payable, the Fiscal Agent, out of money in the Revenue Fund, shall credit the following amounts to the following funds, but in the order and within the limitations hereinafter indicated with respect thereto, as follows:
(c) Promptly upon receipt, the Fiscal Agent shall deposit to the Loan Prepayment Fund (i) Net Proceeds representing casualty insurance proceeds or condemnation awards paid as a prepayment of the Project Loan, such amount to be applied to provide for the extraordinary mandatory prepayment of all or a portion of the Funding Loan pursuant to Section 3.01(b)(i) hereof; and (ii) funds paid to the Fiscal Agent to be applied to the optional prepayment of all or a portion of the Funding Loan pursuant to Section 3.01(a).
(d) Subject to Section 2.12 hereof, should the amount in the Loan Payment Fund be insufficient to pay the amount due on the Funding Loan on any given Interest Payment Date, the Fiscal Agent shall credit to the Loan Payment Fund the amount of such deficiency by charging the following funds and accounts in the following order of priority: (1) the Revenue Fund; and
Application of Revenues. The Parties agree to allocate the Company’s revenues for the following purposes, in the order set out below:
Application of Revenues. P.C. hereby agrees to the application of the Gross Collected Revenues to the purposes and priorities specified in this Agreement.
Application of Revenues. The CAISO will apply revenues received from the EIM Administrative Charge against the costs to be recovered through the Grid Management Charge as described in Appendix F, Schedule 1, Part A.
Application of Revenues. All Revenues received by the Fiscal Agent shall be deposited by the Fiscal Agent, promptly upon receipt thereof, to the Revenue Fund, except (i) the proceeds of the Funding Loan received by the Fiscal Agent on the Delivery Date, which shall be applied in accordance with the provisions of Section 2.11 hereof; (ii) as otherwise specifically provided in subsection (c) of this Section 4.03 with respect to certain deposits into the Loan Prepayment Fund; (iii) with respect to Investment Income to the extent required under the terms hereof to be retained in the funds and accounts to which they are attributable; and (iv) with respect to amounts required to be transferred between funds and accounts as provided in this Article IV.
Application of Revenues. All Revenues received by the Fiscal Agent shall be deposited by the Fiscal Agent, promptly upon receipt thereof, to the Revenue Fund, except (i) the proceeds of the Funding Loan received by the Fiscal Agent on the Delivery Date, which shall be applied in accordance with the provisions of Section 2.11 hereof; (ii) as otherwise specifically provided in subsection (c) of this Section 4.03 with respect to certain deposits into the Loan Prepayment Fund; (iii) with respect to Investment Income to the extent required under the terms hereof to be retained in the funds and accounts to which they are attributable; and (iv) with respect to amounts required to be transferred between funds and accounts as provided in this Article IV. Subject to Section 2.12 hereof, on each Interest Payment Date or any other date on which payment of principal of or interest on the Funding Loan becomes due and payable, the Fiscal Agent, out of money in the Revenue Fund, shall credit the following amounts to the following funds, but in the order and within the limitations hereinafter indicated with respect thereto, as follows:
Application of Revenues. After a default hereunder has occurred and for so long as it continues, all Revenues from time to time paid to the Agent shall be applied by it toward the payment of all secured indebtedness (principal, interest, attorneys’ fees and other fees and expenses) at such times and in such manner and order as is provided in the Credit Agreement.
Application of Revenues. The Parties agree that all revenues received by the Company shall first be applied to pay all direct and indirect costs and expenses of operating the Business Activities and the performance of the Services during the Service Period (the “Service Period Costs and Expenses”), including but not limited to, in connection with the Existing Litigation, insurance premiums, payroll and benefits for the Company’ employees, marketing expenses, or the Company directly and managed by Service Provider, supply expenses, lease costs and expenses, and those fees and expenses associated with the services of any professional advisors, such as attorneys or accountants, engaged by Service Provider.
Application of Revenues. The Parties agree that all revenues from the Company’s sale of inventory to Cypress shall be applied to pay all costs incurred in the production of such inventory and other costs, if any, incurred by the Company during the Service Period, except as otherwise provided in Section 3(d) (“Service Period Costs and Expenses”).
Application of Revenues. To provide for the efficient financing of Operations, it is agreed that all revenues from the sale of Product by or on behalf of the Participants shall be paid on behalf of the Participants directly to the Manager and the amount thereof credited to each Participant in the Joint Account. Cash standing to the credit of a Participant in the Joint Account, whether from such revenues or from cash calls or otherwise, shall be applied by the Manager on behalf of such Participant as follows: