Variation of order of application. The Bank may (following the occurrence of an Event of Default or a Potential Event of Default which is continuing), by notice to the Borrower and the Security provide for a different manner of application from that set out in Clause 15.1 either as regards a specified sum or sums or as regards sums in a specified category or categories.
Appears in 3 contracts
Sources: Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)