Common use of Application of Payments and Commitment Reductions Clause in Contracts

Application of Payments and Commitment Reductions. (a) Any prepayment of the Term Loans or Revolving Credit Loans required pursuant to Section 7.3(e)(i) shall be applied, first, to the repayment of the Term Loans then outstanding to the extent required by the Term Loan Agreement and, second, to the repayment of the Revolving Credit Loans then outstanding (without any permanent reduction of the Aggregate Commitment). Any prepayment of the Term Loans and Revolving Credit Loans required pursuant to Section 7.3(e)(ii) shall be applied, if in respect of the sale, lease, transfer or other disposition of Term Loan Collateral, to the repayment of the Term Loans to the extent required by the Term Loan Agreement, and if in respect of the sale, lease, transfer or other disposition of Multi-Currency Collateral or any other assets to the repayment of the Revolving Credit Loans (without any permanent reduction of the Aggregate Commitment).

Application of Payments and Commitment Reductions. (a) Any prepayment of the New Term Loans or Revolving Credit Loans reduction of the Aggregate Multi-Currency Commitment required pursuant to Section 7.3(e)(i) shall be applied, first, to the repayment of the New Term Loans then outstanding to the extent required by the New Term Loan Agreement and, second, to the repayment of the Revolving Credit Loans then outstanding (without any permanent reduction of the Aggregate Commitment)Multi-Currency Commitment then in effect. Any prepayment of the New Term Loans and Revolving Credit Loans required pursuant to Section 7.3(e)(ii) shall be applied, if in respect of the sale, lease, transfer or other disposition of Term Loan Collateral, to the repayment of the New Term Loans to the extent required by the New Term Loan Agreement, and if in respect of the sale, lease, transfer or other disposition of Multi-Currency Collateral or any other assets to the repayment of the Revolving Credit Loans (without any permanent reduction of the Aggregate Multi-Currency Commitment).