Order of Application definition

Order of Application has the meaning assigned to it in the Collateral Trust Agreement.
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Order of Application means the order in which we will apply the Investments of a Member when a partial transfer or withdrawal of a portion of the Member's Account has been requested and no other order of application has been reported to us. The amount withdrawn or transferred from the Member's Guaranteed Interest Investments, if any, and Separate Account Investments, if any, will be based on the relative value of each such Investment to the Member's Account. The amount withdrawn or transferred from Guaranteed Interest Investments will be from the current Guaranteed Interest Investment first, then from each preceding Guaranteed Interest Investment, with the oldest Guaranteed Interest Investment being last applied. The amount withdrawn or transferred from Separate Account Investments will be based on the relative values of each Separate Account Investment.
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Order of Application means the order of a distribution of proceeds by the Collateral Trustee pursuant to Section 5.01.
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Examples of Order of Application in a sentence

  • If any of the Credit Parties receives any sum which, pursuant to any of the Credit Documents, should have been paid to the Collateral Agent and/or the Delegate Collateral Agent, that sum shall be held by that Credit Party for and to the order of the Secured Creditors and shall as soon as practicable be paid to the Collateral Agent for application in accordance with Clause 3.1 (Order of Application)).

  • After giving effect to the special allocations in Sections 14.4 (Minimum Gain Chargeback) through 14.12 (Order of Application), Profits for any fiscal year or other period shall be allocated to the Members in proportion to their LLC Percentages.

  • If the Security Agent or any Secured Party receives any distribution otherwise than in cash in respect of any Debt, such distribution will not be applied pursuant to Clause 14.1 (Order of Application) and reduce the relevant Debt until cash proceeds from realisation of such distribution have been received and applied by the Security Agent.

  • All monies received, recovered or realised under this Debenture by the Security Agent or any Receiver or the powers conferred by it (including the proceeds of any conversion of currency) may in its discretion be credited to and held in any suspense or impersonal account pending their application from time to time in or towards the discharge of any of the Secured Obligations in accordance with Clause 18.1 (Order of Application).

  • A Secured Party that receives any Recovery (including by way of set-off) in excess of what is permitted pursuant to this Agreement shall notify the Security Agent and forthwith pay such amount to the Security Agent (or as directed by the Security Agent) for application in accordance with Clause 14.1 (Order of Application).

  • Such amount shall be applied first pro-rata against outstanding Facility B Advances and outstanding Facility C Advances in order of maturity and second against outstanding Facility A Advances, in each case in accordance with Clause 7.8(a)(ii) (Order of Application).

  • Should such amount not be paid by the relevant Secured Party to the Security Agent for application in accordance with Clause 15.1 (Order of Application)) such amount shall be considered in any application of proceeds in accordance with Clause 15.1 (Order of Application)) and such Secured Party's share in any such application may be reduced accordingly.

  • The Security Agent shall promptly arrange for payments to be made in accordance with Clause 14.1 (Order of Application).

  • An acknowledgment of receipt signed by the relevant person to whom payments are to be made under Clause 11.1 (Order of Application) shall be good discharge of the Security Agent.

  • A laid-off Employee shall be recalled in the Order of Application of seniority to positions for which he/she holds the required licensure and credentials to perform the work from a recall list that will remain in effect for fifteen (15) months from the date of layoff.

Related to Order of Application

  • Date of application means the date of application determined in accordance with paragraph 30 or 34G of these rules as appropriate.

  • SAP Application(s) means all Packages (i.e. all Software and Third Party Software) licensed under the Agreement and/or SAP cloud services for which Customer has a valid subscription, excluding User Interfaces for ERP, SAP Technology Solutions and all database Packages.

  • Request for Applications (RFA) means the document (including all exhibits, attachments, and published addenda), issued by the System Agency under which applications for grant funds were requested, which is incorporated by reference in the Grant Agreement for all purposes in its entirety.

  • Access Application means an application for Access Rights as described in section 3.7;

  • Creation Application means an application by a Participating Dealer for the creation and issue of Units in an Application Unit size (or whole multiples thereof) in accordance with the Operating Guidelines and the Trust Deed.