Common use of Application of Certain Mandatory Prepayments Clause in Contracts

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. 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 Eurodollar 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 Eurodollar 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. Subject to the provisions of Section 2.8, any prepayments made by Borrower pursuant to Section Sections 2.3(b)(ii) through (b)(v) shall be applied as follows: first, to Protective Advances; second, to the outstanding principal balance of the Term Loans and the Incremental Term Loan; third, to the outstanding principal balance of the Advances; and fourth, to any other Obligations then outstanding; provided that (i) any partial prepayment of the Term Loans and the Incremental Term Loan made by or on behalf of Borrower shall be applied to reduce the remaining scheduled installments of the Term Loans and the Incremental Term Loan (including, in each case, the final installment due on each of the Term A Loan Maturity Date, the Delayed Draw Term B Loan Maturity Date and the maturity date with respect to the Incremental Term Loan) in the inverse order of maturity as directed by the Borrower to remaining installments (pro rata among the Class of Term Loans selected to be prepaid A Loan, Delayed Draw Term B Loan and Incremental Term Loan based on the then outstanding principal balances thereof), and (ii) or absent such direction, in direct order any prepayment of maturity (a Loan shall be applied first to the portion of such Loan comprised of Alternate Base Index Rate Loans and then to the portion of such Loan comprised of Term Benchmark LIBOR Loans, in the direct order of Interest LIBOR 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. 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 EurodollarTerm 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 EurodollarTerm 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).