Common use of Normal order of application Clause in Contracts

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by the Lender under or by virtue of any Finance Document be applied: (a) FIRSTLY: in or towards the payment of expenses and all sums other than principal or interest which may be owing to the Lender under the Finance Documents; (b) SECONDLY: in or towards the payment of any arrears of interest owing to the Lender hereunder;

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by the Lender under or by virtue of any Finance Document shall be applied: (a) FIRSTLYFIRST: in or towards the payment satisfaction of expenses any amounts then due and all sums other than principal or interest which may be owing to the Lender payable under the Finance Documents; Documents (bother than under the Master Agreement) SECONDLY: in or towards the payment of any arrears of interest owing to the Lender hereunder;following order and proportions:

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by the Lender under or by virtue of any Finance Document shall be applied: (a) FIRSTLY: in or towards the payment of expenses and all sums other than principal or interest which may be owing to the Lender under the Finance Documents; (b) SECONDLY: in or towards the payment of any arrears of interest owing to the Lender hereunder;

Normal order of application. Except as any Finance Document may otherwise provide, any sums which are received or recovered by the Lender under or by virtue of any Finance Document shall be applied: (a) FIRSTLY: in or towards the payment of expenses and all sums other than principal or interest which may be owing to the Lender under the Finance Documents; (b) SECONDLY: in or towards the payment of any arrears of interest owing to the Lender hereunder;