Reborrowing Application of Payments Etc Sample Clauses

The "Reborrowing; Application of Payments" clause defines how a borrower can re-access funds that have been repaid under a revolving credit facility and how payments made by the borrower are allocated among outstanding obligations. In practice, this means that as the borrower repays principal amounts, those amounts become available to borrow again, subject to the terms of the agreement, and any payments made are typically applied first to interest, fees, or other charges before reducing the principal. This clause ensures efficient use of the credit facility by the borrower and provides clarity on how repayments affect the loan balance, thereby preventing misunderstandings about available credit and outstanding obligations.
Reborrowing Application of Payments Etc. The amounts of the Revolving Loan prepaid pursuant to Section 4.4 may be reborrowed from time to time prior to the Final Maturity Date in accordance with Section 2.1, subject to the limits set forth therein. Any prepayment of a portion of the Loan shall be applied first to the portion of the Loan not then subject to LIBOR Pricing Options, then the balance of any such prepayment shall be applied to the portion of the Loan then subject to LIBOR Pricing Options, in the chronological order of the respective maturities thereof, together with any payments required by Section
View SourceView Similar (2)
Reborrowing Application of Payments Etc. The amounts of the ----------------------------------------- Revolving Loan prepaid pursuant to Section 4.4 may be reborrowed from time to time prior to the Final Maturity Date in accordance with Section 2.1, subject to the limits set forth therein. Any prepayment of a portion of the Loan shall be applied first to the portion of the Loan not then subject to LIBOR Pricing Options, then the balance of any such prepayment shall be applied to the portion of the Loan then subject to LIBOR Pricing Options, in the chronological order of the respective maturities thereof, together with any payments required by Section
View Source
Reborrowing Application of Payments Etc. The amounts of the 364-Day Revolving Loan prepaid pursuant to Section 4.2 or 4.3 may be reborrowed from time to time prior to the 364-Day Final Maturity Date in accordance with Section 2.2, subject to the limits and conditions set forth therein.
View Source
Reborrowing Application of Payments Etc 
View SourceView Similar (27)

Related to Reborrowing Application of Payments Etc

  • Application of Payments Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord, in its sole discretion, may elect.

  • Application of Mandatory Prepayments by Type of Loans Except as provided in subsection 2.4D, any amount required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Revolving Loan Commitment Amount pursuant to subsections 2.4B(iii)(a)-(f) shall be applied first to prepay the Term Loans to the full extent thereof, second, to the extent of any remaining portion of such amount, to prepay the Swing Line Loans to the full extent thereof and to permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, third, to the extent of any remaining portion of such amount, to prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, fourth, to the extent of any remaining portion of such amount, to further permanently reduce the Revolving Loan Commitment Amount to the full extent thereof and fifth, to the extent of any remaining portion of such amount, to cash collateralize any outstanding Letters of Credit. Any mandatory reduction of the Revolving Loan Commitment Amount pursuant to this subsection 2.4B shall be in proportion to each Revolving Lender’s Pro Rata Share.

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.10(a) shall be applied as specified by the Borrower in the applicable notice of prepayment.

  • Application of Payment The monthly housing assistance payment shall be credited against the monthly rent to owner for the contract unit.

  • Application of Certain Mandatory Prepayments Any prepayments required to be made pursuant to Section 1.3(b)(ii), (b)(iii), (b)(iv), (b)(v) or (b)(vi) above shall be applied as follows: first, to reimbursable expenses of Agent and to Fees then due and payable pursuant to any of the Loan Documents; second, on a pro rata basis, to interest then due and payable on the Term Loans; third, on a pro rata basis, to prepay the scheduled principal installments of the Term Loans in inverse order of maturity, until the Term Loans shall have been paid in full; fourth, to interest then due and payable on the Swing Line Loans; fifth, to the principal balance of the Swing Line Loans outstanding until the same has been repaid in full; sixth, on a pro rata basis, to interest then due and payable on the Revolving Credit Advances; seventh, as set forth below, to the outstanding principal balance of Revolving Credit Advances until the same have been paid in full, and eighth, to any Letter of Credit Obligations, to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B; provided, that any such proceeds arising from a sale of a Vessel shall be applied first to the principal and interest of the Term Loan of the Borrower owning such Vessel in inverse order of maturity, until such Term Loan has been paid in full, and then ratably to the other Term Loans. Neither the Revolving Loan Commitments nor the Swing Line Loan Commitments shall be permanently reduced by the amount of any such prepayments. The Borrowers shall determine which Revolving Credit Advances are to be repaid pursuant to proceeds derived pursuant to Section 1.3(b) and Section 1.3(d); provided, that notwithstanding anything contained in this Section 1.3 to the contrary, if an Event of Default shall have occurred and be continuing at the time of any such prepayment, then the amounts to be applied pursuant to Section 1.3(b) and Section 1.3(d) shall be applied by the Required Lenders as they deem appropriate.