Application of Certain Mandatory Prepayments. Any prepayments made by Borrower pursuant to Section 1.3(b)(iii) above, and any prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c), shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan; third, to the principal balance of the Swing Line Loan until the same has been repaid in full; fourth, to interest then due and payable on Revolving Credit Advances; fifth, to the principal balance of Revolving Credit Advances until the same has been paid in full; and sixth, to any Letter of Credit Obligations of Borrower to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B. Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments. Any prepayments made by Borrower pursuant to Section 1.3(b)(iv) above shall be applied to the principal balance of outstanding Revolving Credit Advances and as a concurrent and permanent reduction of the Revolving Loan Commitment, pro rata among all Lenders.
Application of Certain Mandatory Prepayments. So long as no Default or Event of Default shall have occurred and be continuing, any prepayments made by Borrower pursuant to clauses (b)(iii) or (b)(iv) above shall be applied as follows: first, to Fees and reimbursable expenses of Agents then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan; third, to the principal balance of the Swing Line Loan until the same shall have been repaid in full; fourth, ratably to interest then due and payable on the Tranche A Revolving Loan and the Tranche B Revolving Loan; and fifth, ratably to the outstanding principal balance of the Tranche A Revolving Loan and the Tranche B Revolving Loan until the same shall have been paid in full. So long as a Default or Event of Default shall have occurred and be continuing, any prepayment made by Borrower pursuant to clauses (b)(iii) or (b)(iv) above shall be applied as follows: first, to fees and reimbursable expenses of Agents then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan; third, to the principal balance of the Swing Line Loan until the same shall have been repaid in full; fourth, to interest then due and payable on the Tranche A Revolving Loan; fifth, to the outstanding principal balance of Tranche A Revolving Loan until the same shall have been paid in full; sixth, to interest then due and payable on the Tranche B Revolving Loan; and last to the principal balance of the Tranche B Revolving Loan. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any prepayments made pursuant to this Section 1.3(c).
Application of Certain Mandatory Prepayments. Any prepayments made by Borrower pursuant to Sections 1.3(b)(ii), 1.3(b)(iv) or 1.3(b)(v) above shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Term Loan; third, to prepay the scheduled principal installments of the Term Loan in inverse order of maturity, until such Term Loan shall have been prepaid in full; fourth, to interest then due and payable on the Swing Line Loan; fifth, to the principal balance of the Swing Line Loan until the same has been repaid in full; sixth, to interest then due and payable on the Revolving Credit Advances; seventh, to the outstanding principal balance of Revolving Credit Advances until the same has been paid in full; and eighth, to any Letter of Credit Obligations, to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B; provided, that (x) any mandatory prepayments made by Borrower pursuant to Sections 1.3(b)(ii) or (iii) from the proceeds of assets owned by the RBC Swiss Group Members shall be applied first to the Schaublin Revolving Credit Advances (which application shall respectively reduce each of the Schaublin Intercompany Loans) until the same have been paid in full and then to the other Obligations in the order set forth above or in the order set forth in clause (d) below (as applicable); and (y) any mandatory prepayments made by Borrower pursuant to Sections 1.3(b)(ii) or (iii) from the proceeds of assets owned by Borrower or its Domestic Subsidiaries shall be applied as set forth above or as set forth in clause (d) below (as applicable), except that no amounts shall be applied to the Schaublin Revolving Credit Advances until the U.S. Revolving Credit Advances have been paid in full and the Letter of Credit Obligations have been cash collateralized. Neither the Revolving Loan Commitments nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Certain Mandatory Prepayments. Any prepayments made by any Borrower pursuant to (x) Sections 1.3(b) (ii), (iii) or (iv) above shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan outstanding; third, to the principal balance of the Swing Line Loan outstanding until the same has been repaid in full; fourth, to interest then due and payable on Revolving Credit Advances; fifth, to the principal balance of Revolving Credit Advances outstanding, applied first, to Index Rate Loans and second, to LIBOR Loans, until, in each case, the same has been paid in full; and last, if a Default or Event of Default has occurred and is continuing at the time of such prepayment, to any Letter of Credit Obligations to provide cash collateral therefore in the manner set forth in Annex B. Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Certain Mandatory Prepayments. Any prepayments made by Borrower pursuant to Section 1.3(c) above shall be applied as follows: first, to Fees and reimbursable expenses of Agents then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Swing Line Loan; third, to the principal balance of the Swing Line Loan until the same has been repaid in full; fourth, to interest then due and payable on the Revolving Credit Advances; fifth, to the outstanding principal balance of Revolving Credit Advances until the same has been paid in full; and sixth, to any Letter of Credit Obligations, to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B. Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Certain Mandatory Prepayments. Any prepayments made by any Borrower pursuant to Sections 1.3(b)(ii) or (b)(iii) above or Section 5.4(c) shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on Revolving Credit Advances; third, to the principal balance of Revolving Credit Advances outstanding until the same has been paid in full; and last, to any Letter of Credit Obligations to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B. The Revolving Loan Commitments shall not be permanently reduced by the amount of any such prepayments.
Application of Certain Mandatory Prepayments. Any prepayments made by any Borrower pursuant to Section 1.3(b)(i),(ii), (iii) or (iv) shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Term Loan; and third, to prepay the scheduled principal installments of the Term Loan in inverse order of maturity, until the same has been prepaid in full.
Application of Certain Mandatory Prepayments. Any prepayments made by Borrower pursuant to Sections 1.3(b)(ii), (b)(iii), (b)(iv) or (b)(v) above, and any prepayments from insurance and condemnation proceeds in accordance with Section 5.4(c) and the Mortgage(s), respectively, shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the Loans, ratably in proportion to the interest accrued as to each Loan; and third, to prepay the outstanding principal balance of the Loans, ratably in proportion to the outstanding principal balance of each Loan. Neither the Revolving Loan Commitment nor the Swing Line Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Certain Mandatory Prepayments. Subject to the provisions of Section 2.8, any prepayments made by Borrower pursuant to Section 2.3(b)(ii) through (b)(v) shall be applied as follows: first, to the outstanding principal balance of the Term Loans as directed by the Borrower (pro rata among the Class of Term Loans selected to be prepaid based on the outstanding principal balances thereof) or absent such direction, in direct order of maturity (applied first to the portion of such Loan comprised of Alternate Base Rate Loans and then to the portion of such Loan comprised of Term Benchmark Loans, in the direct order of Interest Period maturities), and second, to any other Obligations then outstanding; provided that, if any Term Loan Lender elects to decline its Pro Rata Share of any prepayment in accordance with Section 2.3(b)(vi), such prepayment (other than such amounts constituting Declined Proceeds) shall be applied ratably to the portion of such Loan comprised of Alternate Base Rate Loans and to the portion of such Loan comprised of Term Benchmark Loans, in the direct order of Interest Period maturities). Notwithstanding anything to the contrary contained herein, the Revolving Loan Commitment shall not be permanently reduced by the amount of any prepayments pursuant to Section 2.3(b).
Application of Certain Mandatory Prepayments. (i) Any prepayments pursuant to Section 1.3(b)(ii) above arising from any asset disposition by any US Credit Party and any prepayments pursuant to Section 5.4(c) arising from any casualty or condemnation proceeds with respect to property of any US Credit Party shall be paid and applied in an amount equal to 100% of such proceeds as follows: first, by US Borrower to pay interest then due and payable on the US Term Loan until paid in full; second, by US Borrower to prepay the scheduled principal installments of the US Term Loan in inverse order of maturity until prepaid in full; third, by US Borrower to pay interest then due and payable on the US Swing Line Loan until paid in full; fourth, by US Borrower to prepay the principal balance of the US Swing Line Loan until paid in full; fifth, by US Borrower to pay interest then due and payable on US Revolving Credit Advances until paid in full; sixth, by US Borrower to prepay the US Revolving Credit Advances and Swap Obligations on a ratable basis based on the amount of such US Revolving Credit Advances then outstanding and such Eligible Swap Obligations then due and payable until paid in full; seventh, by US Borrower to provide cash collateral in the manner set forth in Annex B for any Letter of Credit Obligations incurred on its behalf, until all such Letter of Credit Obligations have been fully cash collateralized; eighth, by European Borrower to pay interest then due and payable on the European Swing Line Loan until paid in full; ninth, by European Borrower to prepay the principal balance of the European Swing Line Loan until paid in full, tenth, by European Borrower to pay interest then due and payable on European Revolving Credit Advances until paid in full; eleventh, by European Borrower to prepay European Revolving Credit Advances until paid in full; twelfth, by European Borrower to provide cash collateral in the manner set forth in Annex B for any Letter of Credit Obligations incurred on its behalf, until all such Letter of Credit Obligations have been fully cash collateralized; and any excess shall be returned to Borrowers or to any other Person entitled thereto under applicable law. If, when and to the extent Innovations and/or any of its Subsidiaries is required to use the proceeds of Asset Sales (as such term is defined in the Indenture) to repay the Revolving Loans and permanently reduce the availability of the Revolving Loan Commitments, the European Revolving Loan Commitment shall be so reduced to...
