Common use of Application of Payments or Reductions Clause in Contracts

Application of Payments or Reductions. (A) In the event that the Borrower shall make a prepayment of the Term Loans (other than any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date), such prepayment shall be applied to permanently reduce, on a pro rata basis, the Term B Loans and the Incremental Term C Loans. Each such reduction allocated to the Term B Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each such reduction allocated to the Incremental Term C Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Incremental Term C Loans as set forth in Section 2.7(c) hereof. Any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date shall be applied to permanently reduce the Term B Loans and shall be applied to reduce, on a pro rata basis, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each prepayment hereunder shall also be made together with accrued interest on the amount so prepaid. (B) As of the date of cancellation or reduction set forth in any notice thereof, the Revolving Loan Commitment shall be permanently reduced to the amounts stated in the Borrower’s notice for all purposes herein, and the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, the amount necessary to reduce the principal amount of the Revolving Loans then outstanding to not more than the amount equal to the result of (I) the Available Revolving Commitment as so reduced, less (II) the aggregate principal amount of Swing Loans then outstanding, together with the accrued interest the amount so prepaid and the commitment fee set forth in Section 2.4(a) hereof accrued through the date of the reduction with respect to the amount reduced. (C) In connection with any such permanent repayment, the Borrower shall reimburse the Administrative Agent and the Lenders, on demand, for any loss or out-of-pocket expense actually incurred by any of them in connection with such repayment of any Eurodollar Advances as set forth in Section 2.11 hereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s portion of the prepayment or the reduction, as applicable.

Application of Payments or Reductions. (A) In the event that the Borrower shall make a prepayment of the Term Loans (other than any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date)Loans, such prepayment shall be applied to permanently reduce, on a pro rata basis, the Term B Loans and the Incremental Term C Loans. Each such reduction allocated to the Term B Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each such reduction allocated to the Incremental Term C Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Incremental Term C Loans as set forth in Section 2.7(c) hereof. Any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date shall be applied to permanently reduce the Term B Loans and shall be applied to reduce, on a pro rata basisin the inverse order of maturity, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each prepayment hereunder shall also be made together with accrued interest on the amount so prepaid. (B) As of the date of cancellation or reduction set forth in any notice thereof, the Revolving Loan Commitment shall be permanently reduced to the amounts stated in the Borrower’s 's notice for all purposes herein, and the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, the amount necessary to reduce the principal amount of the Revolving Loans then outstanding to not more than the amount equal to the result of (I) the Available Revolving Commitment as so reduced, less (II) the aggregate principal amount of Swing Loans then outstanding, together with the accrued interest the amount so prepaid and the commitment fee set forth in Section 2.4(a2.4(b) hereof accrued through the date of the reduction with respect to the amount reduced. (C) In connection with any such permanent repayment, the Borrower shall reimburse the Administrative Agent and the Lenders, on demand, for any loss or out-of-pocket expense actually incurred by any of them in connection with such repayment of any Eurodollar Advances as set forth in Section 2.11 hereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s 's portion of the prepayment or the reduction, as applicable.

Application of Payments or Reductions. (A) In the event that the Borrower shall make a prepayment of the Term Loans (other than any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date)Loans, such prepayment shall be applied to permanently reduce, on a pro rata basis, reduce the Term B Loans and the Incremental Term C Loans. Each such reduction allocated to the Term B Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each such reduction allocated to the Incremental Term C Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Incremental Term C Loans as set forth in Section 2.7(c) hereof. Any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date shall be applied to permanently reduce the Term B Loans and shall be applied to reduce, on a pro rata basis, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each prepayment hereunder shall also be made together with accrued interest on the amount so prepaid. (B) As of the date of cancellation or reduction set forth in any notice thereof, the Revolving Loan Commitment shall be permanently reduced to the amounts stated in the Borrower’s 's notice for all purposes herein, and the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, the amount necessary to reduce the principal amount of the Revolving Loans then outstanding to not more than the amount equal to the result of (I) the Available Revolving Commitment as so reduced, less (II) the aggregate principal amount of Swing Loans then outstanding, together with the accrued interest the amount so prepaid and the commitment fee set forth in Section 2.4(a2.4(b) hereof accrued through the date of the reduction with respect to the amount reduced. (C) In connection with any such permanent repayment, the Borrower shall reimburse the Administrative Agent and the Lenders, on demand, for any loss or out-of-pocket expense actually incurred by any of them in connection with such repayment of any Eurodollar Advances as set forth in Section 2.11 hereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s 's portion of the prepayment or the reduction, as applicable.

Application of Payments or Reductions. (A) In the event that the Borrower shall make a prepayment of the Term Loans (other than any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date)Loans, such prepayment shall be applied to permanently reduce, on a pro rata basis, reduce the Term B Loans and the Incremental Term C Loans. Each such reduction allocated to the Term B Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each such reduction allocated to the Incremental Term C Loans shall be applied to reduce, in the inverse order of maturity, the remaining scheduled installments of principal due under the Incremental Term C Loans as set forth in Section 2.7(c) hereof. Any prepayment of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date shall be applied to permanently reduce the Term B Loans and shall be applied to reduce, on a pro rata basis, the remaining scheduled installments of principal due under the Term B Loans as set forth in Section 2.7(b) hereof. Each prepayment hereunder shall also be made together with accrued interest on the amount so prepaid. (B) As of the date of cancellation or reduction set forth in any notice thereof, the Revolving Loan Commitment shall be permanently reduced to the amounts stated in the Borrower’s notice for all purposes herein, and the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, the amount necessary to reduce the principal amount of the Revolving Loans then outstanding to not more than the amount equal to the result of (I) the Available Revolving Commitment as so reduced, less (II) the aggregate principal amount of Swing Loans then outstanding, together with the accrued interest the amount so prepaid and the commitment fee set forth in Section 2.4(a2.4(b) hereof accrued through the date of the reduction with respect to the amount reduced. (C) In connection with any such permanent repayment, the Borrower shall reimburse the Administrative Agent and the Lenders, on demand, for any loss or out-of-pocket expense actually incurred by any of them in connection with such repayment of any Eurodollar Advances as set forth in Section 2.11 hereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s portion of the prepayment or the reduction, as applicable.