Common use of OTHER UTILISATIONS Clause in Contracts

OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 7.1.2 shall be applied as follows: (a) FIRST in repayment of the outstanding principal amount of any Loans; (b) SECOND in payment of any fees, costs and expenses due from any Obligor to Burdale under the Finance Documents; (c) THIRD in payment of (i) all amounts of interest due on the Loans (including any deemed borrowing pursuant to Clause 6.6) and (ii) all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month); (d) FOURTH in or towards satisfaction of any other payment obligation of any Obligor under the Finance Documents; and (e) FIFTH to the relevant Facility Company by way of payment into such Other Account as the relevant Facility Company may specify to Burdale in writing from time to time. PROVIDED THAT: (i) notwithstanding the above, at all times whilst an Event of Default is continuing, amounts standing to the credit of a Blocked Account shall be applied to such of the liabilities of the Obligors under the Finance Documents and in such order as Burdale may in its absolute discretion determine; and (ii) to the extent that any amount standing to the credit of one Facility Company's Blocked Account is applied to discharge the liabilities of another Obligor pursuant to Clause 7.1.2 or this Clause 7.2 then (without double counting) the provisions of Clause 6.2.5 shall apply to such application mutatis mutandis.

OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 7.1.2 shall be applied as follows: (a) FIRST in repayment of the outstanding principal amount of any Loans; (b) SECOND in payment of any fees, costs and expenses due from any Obligor to Burdale under the Finance Documents; (c) THIRD in payment of (i) all amounts of interest due on the Loans (including any deemed borrowing pursuant to Clause 6.6) and (ii) all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month); (d) FOURTH in or towards satisfaction of any other payment obligation of any Obligor under the Finance Documents; and (e) FIFTH to the relevant Facility Company by way of payment into such Other Account as the relevant Facility Company may specify to Burdale in writing from time to time. PROVIDED THAT: (i) notwithstanding the above, at all times whilst an Event of Default is continuing, amounts standing to the credit of a Blocked Account shall be applied to such of the liabilities of the Obligors under the Finance Documents and in such order as Burdale may in its absolute discretion determine; and (ii) to the extent that any amount standing to the credit of one Facility Company's ’s Blocked Account is applied to discharge the liabilities of another Obligor pursuant to Clause 7.1.2 or this Clause 7.2 then (without double counting) the provisions of Clause 6.2.5 shall apply to such application mutatis mutandis.

OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 7.1.2 7.1(b) shall be applied as follows: (a) FIRST in repayment of the outstanding principal amount of any Loans; (b) SECOND in payment of any fees, costs and expenses due from any Obligor to Burdale under the Finance Documents; (c) THIRD in payment of (i) all amounts of interest due on the Loans (including any deemed borrowing pursuant to Clause 6.6) and (ii) all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month); (d) FOURTH in or towards satisfaction of any other payment obligation of any Obligor under the Finance Documents; and (e) FIFTH to the relevant Facility Company by way of payment into such Other Account as the relevant Facility Company may specify to Burdale in writing from time to time. PROVIDED THAT: (i) notwithstanding the above, at all times whilst an Event of Default is continuing, amounts standing to the credit of a Blocked Account shall be applied to such of the liabilities of the Obligors under the Finance Documents and in such order as Burdale may in its absolute discretion determine; and (ii) to the extent that any amount standing to the credit of one Facility Company's Blocked Account is applied to discharge the liabilities of another Obligor pursuant to Clause 7.1.2 7.1(b) or this Clause 7.2 then (without double counting) the provisions of Clause 6.2.5 6.2(e) shall apply to such application mutatis mutandis.