If the Bank receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under this Contract, the Bank shall apply that payment, in the order set out below, in or towards:
a)
pro rata to each of any unpaid fees, costs, indemnities and expenses due under this Contract;
b)
any accrued interest due but unpaid under this Contract;
c)
any principal due but unpaid under this Contract; and