Laserfiche WebLink
73495160v3 <br /> <br /> <br />36 <br /> <br />advances incurred or made by the Funding Lender or the Fiscal Agent, including reasonable attorneys’ fees, <br />and all other outstanding fees and expenses of the Funding Lender or the Fiscal Agent, and (ii) any sums <br />due to the Governmental Lender under the Borrower Loan Agreement, such moneys shall be applied in the <br />order set forth below: <br />(a) Unless the entire principal of the Governmental Note shall have become or been <br />declared due and payable, all such moneys shall be applied: <br />First: To the payment of all installments of interest then due on the Governmental Note <br />in order of priority first to installments past due for the greatest period and, if the amount available <br />shall not be sufficient to pay in full any particular installment, then to the ratable payment of the <br />amounts due on such installment; <br />Second: To the payment of the unpaid principal of and acceleration premium, if any, of <br />the Governmental Note which shall have become due, with interest on such Governmental Note <br />from the respective dates upon which they became due (at the rate borne by the Governmental <br />Note, to the extent permitted by law) and, if the amount available shall not be sufficient to pay in <br />full Governmental Note due on any particular date, together with such acceleration premium, then <br />to the ratable payment of the amounts due on such date; <br />Third: To the payment of the unpaid principal of and acceleration premium, if any, of the <br />Bridge Note which shall have become due, with interest on such Bridge Note from the respective <br />dates upon which they became due (at the rate borne by the Bridge Note, to the extent permitted by <br />law) and, if the amount available shall not be sufficient to pay in full Bridge Note due on any <br />particular date, together with such acceleration premium, then to the ratable payment of the <br />amounts due on such date; <br />Fourth: To the payment of the amounts required to reimburse the Governmental Lender <br />and the Owners of the Governmental Note for any legal or other out-of-pocket costs incurred by <br />them in connection with exercising their remedies hereunder; and <br />Fifth: The balance shall be paid to the Borrower after payment of any required Rebate <br />Amount. <br />(b) If the principal of all the Governmental Note shall have become or been declared <br />due and payable, all such moneys shall be applied to the payment of the principal, acceleration premium, if <br />any, and interest then due and unpaid upon the Governmental Note, without preference or priority as <br />between principal, premium, interest, installments of interest or Governmental Note, ratably according to <br />the amounts due respectively for principal, premium and interest to the persons entitled thereto. <br />(c) If the principal on all Governmental Note shall have been declared due and <br />payable, and if such declaration shall thereafter have been rescinded under this Article then, subject to <br />subsection (b) of this Section in the event that the principal of all the Governmental Note shall again become <br />or be declared due and payable, the moneys shall be applied in accordance with subsection (a) of this <br />Section. <br />(d) Notwithstanding anything contained herein to the contrary, the Funding Lender <br />may direct the application of funds other than in the manner set forth in Section 5.7(a) above, including, <br />without limitation, the application of funds between the principal or acceleration premium of or interest on <br />the Governmental Note.