Application of Designated Prepayments. Each mandatory prepayment required by clauses (b), (c) and (d) of this Section 2.2 shall be referred to herein as a "Designated Prepayment." Designated Prepayments shall be applied (i) first to repay the then remaining installments of the Term Loans in the inverse order of maturity and (ii) second, upon repayment in full of the Term Loans, to prepay the Revolving Loans then outstanding (with no corresponding reduction in the Aggregate Revolving Loan Commitment). Designated Prepayments of Loans shall first be applied to Floating Rate Loans and to any Eurodollar Rate Loans maturing on such date and then to subsequently maturing Eurodollar Rate Loans in order of maturity. Notwithstanding the foregoing, so long as no Default has occurred and is then continuing and at the Borrower's option, the Administrative Agent shall hold all Designated Prepayments to be applied to Eurodollar Rate Loans in escrow for the benefit of the Lenders and shall release such amounts upon the expiration of the Interest Periods applicable to any such Eurodollar Rate Loans being prepaid (it being understood and agreed that interest shall continue to accrue on the Obligations until such time as such prepayments are released from escrow and applied to reduce the Obligations); provided, however, that upon the occurrence and continuance of an Event of Default, such escrowed amounts may be applied to Eurodollar Rate Loans without regard to the expiration of any Interest Period and the Borrower shall make all payments under Section 3.4 resulting therefrom.
Application of Designated Prepayments. Each mandatory prepayment required by clauses (a), (b) and (c) of this Section 2.5(B)(i) shall be referred to herein as a “Designated Prepayment.” Designated Prepayments shall be allocated and applied to the Obligations as follows:
(1) the amount of each Designated Prepayment shall be applied to outstanding accrued interest and then ratably to each of the then remaining installments payable under the Term Loans; and
(2) following the payment in full of the Term Loans, the amount of each Designated Prepayment shall be applied to repay Revolving Loans (and may, if requested by the Borrower, reduce the Revolving Loan Commitments) and following the payment in full of the Revolving Loans, the amount of each Designated Prepayment shall be applied first to interest on the Reimbursement Obligations, then to principal on the Reimbursement Obligations, then to fees on account of Letters of Credit and then, to the extent any L/C Obligations are contingent, deposited with the Administrative Agent as cash collateral in respect of such L/C Obligations.
Application of Designated Prepayments. Each mandatory prepayment required by clauses (b) and (c) (in each case to the extent payable with respect to the Term Loans), and (d) of this Section 2.2 shall be referred to herein as a "Designated Prepayment." Designated Prepayments shall be applied to reduce the subsequent scheduled repayments of Term Loans ratably. Designated Prepayments of Term Loans shall first be applied to Floating Rate Loans and to any Eurodollar Rate Loans maturing on such date and then to subsequently maturing Eurodollar Rate Loans in order of maturity. Notwithstanding the foregoing, so long as no Event of Default has occurred and is then continuing and at the Borrower's option, the Administrative Agent shall hold all Designated Prepayments to be applied to Eurodollar Rate Loans in escrow for the benefit of the Lenders and shall release such amounts upon the expiration of the Interest Periods applicable to any such Eurodollar Rate Loans being prepaid (it being understood and agreed that interest shall continue to accrue on the Obligations until such time as such prepayments are released from escrow and applied to reduce the Obligations); provided, however, that upon the occurrence and continuance of an Event of Default, such escrowed amounts may be applied to Eurodollar Rate Loans without regard to the expiration of any Interest Period and the Borrower shall make all payments under Section 3.4 resulting therefrom. No mandatory prepayment made pursuant to clause (b) or (c) of this Section 2.2 shall result in a corresponding reduction of the Revolving Loan Commitments unless so requested by the Borrower or required on the date of such mandatory prepayment by the Required Lenders.
Application of Designated Prepayments. Each mandatory prepayment required by clauses (a), (b), (c), (d) and (e) of this Section 2.5(B)(i) or by Section 7.2(P) shall be referred to herein as a "Designated Prepayment." Designated Prepayments shall be allocated and applied to the Obligations as follows:
Application of Designated Prepayments. Designated Prepayments shall be allocated and applied to the Obligations as follows:
(A) the amount of each Designated Prepayment shall be applied ratably to the outstanding Revolving Loans, each application being made first to the Revolving Loans which are Base Rate Loans until paid in full and then to Revolving Loans which are Eurocurrency Rate Loans, with those which have earlier expiring Eurocurrency Rate Interest Periods being repaid prior to those which have later expiring Eurocurrency Rate Interest Periods, until paid in full; provided that the U.S. Borrower may elect to deposit with the Agent, as Cash Collateral and subject to the provisions of Section 4.05, amounts that would otherwise be required to be applied to Eurocurrency Rate Loans hereunder until the end of the Eurocurrency Rate Interest Period applicable to such Eurocurrency Rate Loans, at which time the required application shall be made by the Agent;
(B) following the payment in full of the Revolving Loans, the remaining balance of each Designated Prepayment shall be applied to the Reimbursement Obligations until paid in full; and
(C) thereafter, the remaining balance of each Designated Prepayment shall be applied to the Swing Loans then outstanding until paid in full.
Application of Designated Prepayments. Designated Prepayments shall be allocated and applied to the Obligations as follows:
(A) the amount of such Designated Prepayment shall be applied, pro rata, to the outstanding principal balances of the Term Loans based on the respective Term Loan Pro Rata Shares of the Term Lenders, in each case pro rata to the unpaid installments due under each Term Loan during the period July 31, 2005 through April 30, 2006, based on the respective amounts of such installments, with each application being made to Base Rate Loans and Eurodollar Rate Loans as provided in Section 4.02(b); and
(B) following the payment in full of the Term Loans or in the event there are no Term Loans outstanding as of the date a Designated Prepayment is required to be made, the remaining balance of (or entire amount of, in the event there are no Term Loans outstanding as of such required payment date) each Designated Prepayment shall be applied to the outstanding balances of the Revolving Loans, pro rata based on the respective Revolving Credit Pro Rata Shares of the Revolving Lenders, with each application being made to Base Rate Loans and Eurodollar Rate Loans as provided in Section 4.02(b), until paid in full.
Application of Designated Prepayments. Each mandatory prepayment required by clauses (b) and (c) of this Section 2.2 shall be referred to herein as a “Designated Prepayment.” Designated Prepayments shall be applied to repay Revolving Loans and shall automatically reduce Commitments ratably in an amount equal to such Designated Prepayment. Following the payment in full of the Revolving Loans, the amount of each Designated Prepayment shall be applied first to interest on the Reimbursement Obligations, then to principal on the Reimbursement Obligations, then to fees on account of Facility LCs, then, to the extent any L/C Obligations are contingent, deposited with the Agent as cash collateral in respect of such L/C Obligations (up to an amount not to exceed 100% of such contingent obligations), and then any excess shall be returned to the Borrower or paid to whomever may be legally entitled thereto at such time.
Application of Designated Prepayments. Each mandatory prepayment required by clauses (b) and (c) of this Section 2.2 shall be referred to herein as a "Designated Prepayment." Designated Prepayments shall be applied to repay the Term Loans in the inverse order of maturity. Designated Prepayments of Term Loans shall first be applied to Floating Rate Loans and to any Eurodollar Rate Loans maturing on such date and then to subsequently maturing Eurodollar Rate Loans in order of maturity. Notwithstanding the foregoing, so long as no Default has occurred and is then continuing and at the Company's option, the Administrative Agent shall hold all Designated Prepayments to be applied to Eurodollar Rate Loans in escrow for the benefit of the Lenders and shall release such amounts upon the expiration of the Interest Periods applicable to any such Eurodollar Rate Loans being prepaid (it being understood and agreed that interest shall continue to accrue on the Obligations until such time as such prepayments are released from escrow and applied to reduce the Obligations).
Application of Designated Prepayments. Each mandatory prepayment required by Section 7.2(P) shall be referred to herein as a "Designated Prepayment." Designated Prepayments shall be allocated and applied to the Obligations as follows: (1) the amount of each Designated Prepayment shall be applied first to unpaid installments of the Term Loans in the inverse order of maturity; and (2) following the payment in full of the Term Loans, the amount of each Designated Prepayment shall be applied to repay Revolving Loans (but shall not reduce Revolving Loan Commitments) and following the payment in full of the Revolving Loans, the amount of each Designated Prepayment shall be applied first to interest on the Reimbursement Obligations, then to principal on the Reimbursement Obligations, then to fees on account of Letters of Credit and then, to the extent any L/C Obligations are contingent, deposited with the Administrative Agent as cash collateral in respect of such L/C Obligations.
Application of Designated Prepayments. Designated Prepayments shall be allocated and applied to the Obligations as follows:
