Common use of Variation of order of application Clause in Contracts

Variation of order of application. The Lender may (following the occurrence of an Event of Default or Potential Event of Default which is continuing), by notice to the Borrower and the Security Parties, provide for a different manner of application from that set out in Clause 17.1 either as regards a specified sum or sums or as regards sums in a specified category or categories.

Variation of order of application. The Lender may (following Following the occurrence of an Event of Default or Potential Event of Default which is continuing)Default, the Lender may, by notice to the Borrower Borrowers and the Security Parties, provide for a different manner of application from that set out in Clause 17.1 16.1 either as regards a specified sum or sums or as regards sums in a specified category or categories.