Additional Mandatory Prepayment. In addition to any other payments of principal of the Revolving Credit Loans required to be made by Borrower hereunder, the Borrower shall also be required to make an additional payment of principal of the Revolving Credit Loans by an amount equal to the cash proceeds actually received by Borrower relating to the Income Tax Benefit associated with its recognition of the Additional Net Restructuring Charge. The payment(s) required to be made by Borrower under this Section 2.6(e) shall be applied first to accrued but unpaid interest on the Revolving Credit Loans and then to the principal payments due under the Revolving Credit Loans. Such payment(s) shall be due and payable within five (5) days of RCM's receipt of tax refund(s) arising as a result of its submission of a claim for such refund(s) due to its recognition of the Additional Net Restructuring Charge. Prior to the occurrence of an Event of Default or Unmatured Event of Default, Agent shall be permitted, at its sole option, to the extent any principal payment hereunder is to be applied to the outstanding balance of a LIBOR Based Rate Loan, to permit the Borrower to defer such payment until the end of the applicable LIBOR Interest Period. If the payment pursuant to this Section 2.6(c) is delayed pursuant to the immediately preceding sentence, interest shall continue to accrue on the outstanding principal of the Revolving Credit Loans until such payment is actually made by Borrower to reduce the outstanding principal balance of the Revolving Credit Loans.
Additional Mandatory Prepayment. The Borrower is obliged to make the following prepayments:
(a) in respect of the Tranche A, an amount of $239,340.28; and
(b) in respect of the Tranche B, an amount of $239,340.28, and in each case, the Agent shall apply such prepayment against the repayment instalment due in respect of such Tranche in the first quarter of 2018 as specified in Clause 8.1 (Amount of repayment instalments). The Agent hereby confirms that each such prepayment has been made in full and applied in accordance with this Clause prior to the date of the Fifth Supplement."
(e) by deleting clause 12.8 (minimum interest coverage) of the Loan Agreement and replacing it with the following new clause 12.8:
Additional Mandatory Prepayment. (a) Section 2.09(b)(iv) of the June 2000 Credit Agreement is amended by inserting the phrase "(other than the KCAL Asset Sale)" immediately after the first reference to "Permitted Asset Sale" contained therein.
Additional Mandatory Prepayment. The following Section 6.4 is added to the Credit Agreement in appropriate alphabetical sequence:
Additional Mandatory Prepayment. Without prejudice to the provisions of Clause 14 (Security Cover), the Borrowers shall make an additional prepayment of $2,460,277.04 on or prior to the Fourth Supplemental Effective Date which such prepayment the Lender shall apply pro rata against the Ship B Tranche, the Ship C Tranche and the Ship D Tranche and then applied against the remaining repayment instalments for the relevant Tranche specified in Clause 7.1 (Amount of repayment instalments) in inverse order of maturity commencing with the balloon instalment under each such Tranche”.
(g) by deleting clause 14.1 (Minimum required security cover) of the Loan Agreement and replacing it with the following new clause 14.1:
Additional Mandatory Prepayment. If Borrower is not in compliance with the financial covenant contained in Section 7.6, then Borrower shall prepay the Loan by an amount equal to 100% of the amounts payable to Borrower under the Exclusive Services Agreement until the covenant has been complied with. Borrower authorizes Lender to make such payments under the Exclusive Services Agreement directly to Lender to the extent of the mandatory prepayment.
Additional Mandatory Prepayment. The first sentence of Section 4.7(b) of the Credit Agreement shall be amended and as so amended shall be restated in its entirety to read as follows:
Additional Mandatory Prepayment. Section 2.05 of the Credit Agreement is hereby amended to add a new clause (c) to read as follows:
Additional Mandatory Prepayment. If at any time the Bank, in its sole discretion, determines that any of the transactions contemplated by this Agreement or any of the other Loan Documents violate any provision of Regulations T, U or X, the Borrowers will, upon five (5) day's written notice from the Bank, either (A) prepay the Loans by an amount sufficient such that, after such prepayment, the transactions contemplated by the Loan Documents will not violate any provision of Regulations T, U or X (as determined by the Bank in its sole discretion), or (B) provide for a grant to the Bank, as collateral security for the Loans and all other Obligations, a perfected, first priority security interest in, and lien on, additional collateral that is in such amounts and having such market values, liquidity, volatility, marketability and other characteristics as the Bank may in its sole discretion determine to be acceptable and sufficient to cause, after the grant of such additional security interest, the transactions contemplated by the Loan Documents not to violate any provision of Regulations T, U or X (and in connection with such grant, the Borrowers will execute and deliver such agreements, instruments, legal opinions and other documents as the Bank may reasonably request).
Additional Mandatory Prepayment. If the aggregate U.S. Dollar Equivalent or Original Dollar Amount of outstanding Loans and L/C Obligations in each case denominated in the same Alternative Currency less in each case the aggregate amount cash held by the Administrative Agent in the cash collateral account described in Section 5.4(e) below (to the extent in excess of any amount so held as cash collateral pursuant to Section 5.4(e) below with respect to any other Alternative Currency) shall at any time for any reason exceed the Foreign Currency Sub-Limit (if any) for such Alternative Currency (any such excess being herein referred to as the "Foreign Currency Excess"), the Company shall, within two (2) Business Days, pay the amount of such Foreign Currency Excess to the Administrative Agent for the ratable benefit of the Banks as a prepayment of such Loans (to be applied to such Loans as the Company shall direct at the time of such payment) and, if necessary, a prefunding of such Letters of Credit. Immediately upon determining the need to make any such prepayment, the Company shall notify the Administrative Agent of such required prepayment. Each such prepayment shall be accompanied by a payment of all accrued and unpaid interest on the Loans prepaid and shall be subject to Section 5.8.
