Common use of General Order of Application Clause in Contracts

General Order of Application. Each such repayment shall be applied to repay all outstanding Loans ratably. All payments made on the Obligations shall be credited, to the extent of the amount thereof, in the following order: (a) against all costs, expenses and other fees (including Attorney Costs) arising under the terms hereof; (b) against the amount of interest accrued and unpaid on the Obligations as of the date of such payment; (c) against all principal due and owing on the Obligations as of the date of such payment; and (d) to all other amounts constituting any portion of the Obligations.

General Order of Application. Each such repayment shall be applied to repay all outstanding Loans ratably. All payments made on the Obligations shall be credited, to the extent of the amount thereof, in the following ordermanner: (a) first, against all costs, expenses and other fees (including Attorney Costs) arising under the terms hereof; (b) second, against the amount of interest accrued and unpaid on the Obligations as of the date of such payment; (c) third, against all principal due and owing on the Obligations as of the date of such payment; and (d) fourth, to all other amounts constituting any portion of the Obligations.