Common use of Manner of Application Clause in Contracts

Manner of Application. In respect of the waterfall of payment application set forth in Section 5.5(a), amounts shall be applied to each of the foregoing categories of Obligations in the order presented above within each category before being applied to the following category. Where applicable, all amounts to be applied to a given category will be applied on a pro rata basis among those entitled to payment in such category.

Manner of Application. In respect of the waterfall of payment application set forth in Section 5.5(a)) above, amounts shall be applied to each of the foregoing categories of Obligations in the order presented above within each category before being applied to the following category. Where applicable, all amounts to be applied to a given category will be applied on a pro rata basis among those entitled to payment in such category.