General application of moneys Clause Samples

General application of moneys. The Borrower, subject to Clause 11.10, irrevocably authorises the Lender to apply all sums which the Lender may receive: 11.9.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 11.9.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation; or 11.9.3 by way of transfer of any sum from either of the Accounts; or 11.9.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, in such manner as the Lender may determine.
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Agent and the Security Trustee to apply all sums which either of them may receive: 8.12.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 8.12.2 by way of payment of any sum in respect of the Insurances, Earnings, or Requisition Compensation; or 8.12.3 otherwise arising under or in connection with any Security Document, in accordance with the terms of the Intercreditor Deed.
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Revenue or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all fees, liabilities and expenses of the Facility Security Trustee which are outstanding under a Facility Document; (ii) secondly, in or towards payment on a pro rata and pari passu basis of all fees, liabilities and expenses of the Facility Agent and the GIEK Agent which are outstanding under a Facility Document; (iii) thirdly in or towards payment on a pari passu and pro rata basis to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding the Hedging Secured Obligations); (iv) fourthly in or towards payment on a pari passu and pro rata basis to the Hedging Providers of an amount equal to the Hedging Secured Obligations; (v) the balance, if any, shall be remitted to the Borrower.
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General application of moneys. Whilst an Event of Default is continuing unremedied and unwaived the Borrower irrevocably authorises the Agent and the Security Agent to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of a Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings, Charter Rights or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Security Document, in accordance with Clause 3.4.3 or Clause 3.4.4 (if relevant) or otherwise in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows:- (i) first in payment of all outstanding fees and expenses of the Agent and the Security Agent; (ii) secondly in or towards payment of all outstanding interest hereunder; (iii) thirdly in or towards payment of all outstanding principal hereunder; (iv) fourthly in or towards payment of all other Indebtedness hereunder; (v) fifthly the balance, if any, shall be remitted to the Borrower or whoever may be entitled thereto.
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General application of moneys. Each Borrower, subject to Clause 10.12 (Application of moneys on mandatory prepayment), irrevocably authorises the Agent and the Security Agent and shall procure that (a) the Collateral Owner shall (where relevant) irrevocably authorise the Agent and the Security Agent (subject to the prior rights of ABN AMRO Bank N.V. as lender under the Zeus Loan Agreement) and (b) the Tasman Collateral Owners shall (where relevant) irrevocably authorise the Agent and the Security Agent (subject to the prior rights of the Tasman Finance Parties under the Collateral Loan Agreement) to apply all sums which either of them may receive: 10.11.1 pursuant to a sale or other disposition of its Vessel (other than a Tasman Collateral Vessel) or any right, title or interest in its Vessel (other than a Tasman Collateral Vessel); or 10.11.2 by way of payment of any sum in respect of the Insurances, Earnings, Charters, Requisition Compensation or, as the case may be, Initial Charter of its Vessel; or 10.11.3 by way of transfer of any sum from either of the Accounts; or 10.11.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, firstly in or towards payment of expenses and all sums other than principal or interest which may be due to the Lenders under the Finance Documents, secondly in or towards payment of any default interest, thirdly in or towards payment of any arrears of interest due in respect of the Loan and fourthly in or towards repayment of the Loan.”;
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General application of moneys. (Corporate Guarantees) To the extent permitted by applicable law, whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Agent and the Agent agrees to apply all sums which it may receive under or in connection with either Corporate Guarantee, in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows: 10.3.1 first in payment of all outstanding fees and expenses of the Agent; 10.3.2 secondly in or towards payment of all outstanding interest under the relevant Tranche; 10.3.3 thirdly in or towards payment of all outstanding principal under the relevant Tranche; 10.3.4 fourthly the balance, if any, shall be remitted to the relevant Guarantor or whoever may be entitled thereto.
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General application of moneys. Each Borrower, subject to Clause 12.12, irrevocably authorises the Lender to apply all sums which the Lender may receive: 12.11.1 pursuant to a sale or other disposition of its Vessel or any right, title or interest in its Vessel; or 12.11.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation of its Vessel; or 12.11.3 by way of transfer of any sum from any of the Accounts; or 12.11.4 otherwise arising under or in connection with any Security Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, in the following manner: FIRST: in or towards satisfaction of any amounts as are then accrued due and payable under the Finance Documents (or any of them) or are then due and payable by virtue of payment demanded under the Finance Documents (or any of them) in such order of application as the Lender shall think fit; SECONDLY: at the option of the Lender (i) in retention of an amount equal to any amounts which are not then accrued due and payable under the Finance Documents (or any of them) or are not then due and payable by virtue of payment demanded under the Finance Documents (or any of them) but which (in the sole and absolute opinion of the Lender) will or may become due and payable in the future and, upon the same becoming due and payable, in or towards satisfaction thereof in accordance with the foregoing provisions of this Clause 12.11; and THIRDLY: the surplus (if any) shall be paid to the Borrowers or to whomsoever else may be entitled thereto.
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General application of moneys. Whilst an Event of Default is continuing unremedied or unwaived the Borrower irrevocably authorises the Facility Agent and the Facility Security Trustee to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances (but subject always to clause 23 of the Co-ordination Deed}, Earnings or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Facility Document, in or towards satisfaction, or by way of retention on account, of the Facility Secured Obligations, as follows: (i) first in payment of all outstanding fees and expenses of the Facility Agent, the GIEK Agent and the Facility Security Trustee; (ii) secondly in or towards payment on a pari passu and pro rata basis (a) to the Facility Beneficiaries (other than the Hedging Providers) of an amount equal to the Facility Secured Obligations (but excluding any Hedging Secured Obligations), and (b) to the Hedging Providers, of an amount equal to the Hedging Secured Obligations; and (iii) the balance, if any, shall be remitted to the Charterer, the Borrower or whoever may be entitled thereto pursuant to the Co-ordination Deed.
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General application of moneys. Whilst an Event of Default is continuing unremedied and unwaived the Borrower irrevocably authorises the Agent and the Security Agent to apply all sums which either of them may receive: 10.3.1 pursuant to a sale or other disposition of the Vessel or any right, title or interest in the Vessel; or 10.3.2 by way of payment of any sum in respect of the Insurances, Earnings or Requisition Compensation; or 10.3.3 otherwise arising under or in connection with any Finance Document, in or towards satisfaction, or by way of retention on account, of the Indebtedness, as follows:- (i) first in payment of all outstanding fees and expenses of the Agent and the Security Agent; (ii) secondly in or towards payment of all outstanding interest hereunder; (iii) thirdly in or towards payment of all outstanding principal hereunder; (iv) fourthly in or towards payment of all other Indebtedness (other than Master Agreement Liabilities) that have fallen due in accordance with the terms of this Agreement hereunder; (v) fifthly in or towards payment of any Master Agreement Liabilities; and (vi) sixthly the balance, if any, shall be remitted to the Borrower or whoever may be entitled thereto.
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Related to General application of moneys

  • Application of Moneys ALL moneys received by the Trustee under these presents from any of the relevant Obligors (including any moneys which represent principal or interest in respect of Notes, Receipts or Coupons which have become void under Condition 9) shall, unless and to the extent attributable, in the opinion of the Trustee, to a particular Series of the Notes issued by the relevant Issuer, be apportioned pari passu and rateably between each Series of the Notes issued by the relevant Issuer, and all moneys received by the Trustee under these presents from any of the relevant Obligors to the extent attributable in the opinion of the Trustee to a particular Series of the Notes issued by the relevant Issuer or which are apportioned to such Series as aforesaid, be held by the Trustee upon trust to apply them (subject to Clause 12): FIRST in payment or satisfaction of all amounts then due and unpaid under Clauses 15 and/or 16(J) to the Trustee and/or any Appointee; SECONDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of that Series; THIRDLY in or towards payment pari passu and rateably of all principal and interest then due and unpaid in respect of the Notes of each other Series issued by the relevant Issuer; and FOURTHLY in payment of the balance (if any) to the relevant Issuer (without prejudice to, or liability in respect of, any question as to how such payment to the relevant Issuer shall be dealt with as between the relevant Issuer and any other person), PROVIDED ALWAYS that any payment required to be made by the Trustee pursuant to these presents shall only be made subject to any applicable laws and regulations. Without prejudice to this Clause 10, if the Trustee holds any moneys which represent principal or interest in respect of Notes, Receipts or Coupons issued by the relevant Issuer which have become void or in respect of which claims have been prescribed under Condition 9, the Trustee will hold such moneys on the above trusts.

  • Application of Monies In the event that, during the continuance of any Default, the Administrative Agent or any Bank, as the case may be, receives any monies in connection with the enforcement of rights under the Loan Documents, such monies shall be distributed for application as follows: (a) First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent and the Banks for or in respect of all costs, expenses, disbursements, and losses that shall have been incurred or sustained by the Administrative Agent and the Banks in connection with the collection of such monies by the Administrative Agent or any such Banks, for the exercise, protection, or enforcement by the Administrative Agent or any such Banks of all or any of the rights, remedies, powers, and privileges of the Administrative Agent or any such Banks under this Credit Agreement or any of the other Loan Documents, or in support of any provision of adequate indemnity to the Administrative Agent or any such Banks against any taxes or Liens that by Government Mandate shall have, or may have, priority over the rights of the Administrative Agent or any such Banks to such monies; (b) Second, to all other Obligations in such order or preference as the Majority Banks may determine; provided, however, that distributions among Obligations owing to the Banks and the Administrative Agent with respect to each type of Obligation such as interest, principal, fees, and expenses, shall be made among the Banks and the Administrative Agent pro rata according to the respective amounts thereof; and provided, further, that the Administrative Agent may in its discretion make proper allowance to take into account any Obligations not then due and payable; and (c) Third, the excess, if any, shall be returned to the applicable Borrower or to such other Persons as are entitled thereto.

  • Application of Moneys Collected Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

  • Collection of Moneys Except as otherwise expressly provided in this Agreement, the Trustee and the Paying Agent may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee or the Paying Agent, as the case may be, pursuant to this Agreement. The Trustee or the Paying Agent, as the case may be, shall hold all such money and property received by it as part of the Trust and shall distribute it as provided in this Agreement. If the Trustee or the Paying Agent, as the case may be, shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee or the Paying Agent, as the case may be, shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee or the Paying Agent, as the case may be, shall subsequently receive any such amount, it may withdraw such request.

  • 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: