Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and the Mortgage(s), respectively, shall be applied, to the Revolving Credit Advances of the Borrower that incurred such casualties or losses. The Commitment shall not be permanently reduced by the amount of any such prepayments. If insurance or condemnation proceeds received by a particular Borrower exceed the outstanding principal balances of the Loans to that Borrower, or if the precise amount of insurance or condemnation proceeds allocable to Inventory as compared to Equipment, Fixtures and Real Estate are not otherwise determined, the allocation and application of those proceeds shall be determined by Agent, subject to the approval of Requisite Lenders.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from Net Cash Proceeds of insurance or condemnation events in accordance with Section 5.7 and the Mortgage(s), respectively, shall be applied, first, to all amounts owing by any Credit Party under the Pre-Petition Credit Agreement or any of the loan documents or instruments entered into in connection therewith (other than for purposes of providing cash collateral with respect to the Existing Letters of Credit), second, to the Swing Line Loans, and third, to the Revolving Credit Advances; provided, that prior to the Discharge of Term Obligations, proceeds of Senior Secured Priority Collateral to the extent payable to the holders of the Senior Secured Notes or the DIP Term Loan Lenders or to be held as Senior Secured Priority Collateral or otherwise shall be applied, in each case, in accordance with the terms of the Senior Secured Notes Indenture, the DIP Term Loan Agreement and the Intercreditor Agreement, provided further that (1) the Borrower Representative shall certify to Agent that all such proceeds of Senior Secured Priority Collateral have been deposited into a Senior Secured Priority Account in accordance with Section 5.20 and otherwise as required by the Senior Secured Notes Indenture, the DIP Term Loan Agreement, the Intercreditor Agreement or the Loan Documents, as applicable, and (2) the Borrower Representative shall notify Agent in accordance with Section 5.20 prior to any withdrawal from or deposits to any such account. None of the Revolving Loan Commitment or the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) shall be applied as follows: first, to the Swing Line Loans and, second, to the Revolving Credit Advances. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance proceeds in accordance with Section 5.4(c) or condemnation proceeds received with respect to any Collateral shall be applied to prepay the outstanding principal balance of the Revolving Loan, but without reducing the Commitment, and any remaining cash proceeds thereof shall be deposited into a Deposit Account subject to a tri-party blocked account agreement in accordance with Section 5.10.
Application of Prepayments from Insurance and Condemnation Proceeds. Provided that the Senior Term Loan and the Revolver Loan have each been paid in full and all commitments with respect thereto have terminated, prepayments from insurance or condemnation proceeds from casualties or losses to cash or any Collateral in accordance with 5 Junior Credit Agreement (Omni)
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and the Mortgages, respectively, shall be applied to the Revolving Credit Advances. The Revolving Loan Commitment shall not be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c), shall be applied as follows: insurance proceeds from casualties or losses to Collateral shall be applied, first, to the Swing Line Loans and, second, to the Revolving Credit Advances of the Borrower that incurred such casualties or losses. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments. If insurance or condemnation proceeds received by a particular Borrower exceed the outstanding principal balances of the Loans to that Borrower, the allocation and application of those proceeds shall be determined by Agent, subject to the approval of Requisite Lenders.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and the Mortgage(s), shall be applied in the same manner and order as set forth in Section 1.3(c).
Application of Prepayments from Insurance and Condemnation Proceeds. Subject to the SREF Intercreditor Agreement and to the provisions of Sections 1.3(c), 5.4(c) and 5.15 of this Agreement, prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and the Mortgages, respectively, shall be applied as follows: first, to the Swing Line Loans; second, to the Revolving Credit Advances of Borrowers; provided that payments shall first be applied to any Index Rate Loan and next to any LIBOR Loan; third, to the Term Loan; and (iv) upon satisfaction in full of all Obligations, to Borrowers. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds required to be applied to prepay the Loans in accordance with Section 5.4(c) and the Mortgage(s), respectively, shall be applied as follows: (i) insurance proceeds from casualties or losses to cash or Inventory shall be applied, (x) if such prepayment relates to cash or Inventory of any US Borrower, to the Swing Line Loans and, second, to the Revolving Credit Advances of US Borrowers; and third, to the Revolving Credit Advances of UK Borrower; and (y) if such prepayment relates to cash or Inventory of UK Borrower, to the Revolving Credit Advances of UK Borrower, and (ii) insurance or condemnation proceeds from casualties or losses to Equipment, Fixtures and Real Estate of Term Borrower shall be applied to scheduled installments of the Term Loan in inverse order of maturity, and then shall be applied to the Swing Line Loan and then to the Revolving Credit Advances of US Borrowers. All other insurance and condemnation proceeds required to be applied to prepay the Loans in accordance with Section 5.4(c) shall be applied to the Revolving Credit Loan; provided that any such proceeds of UK Borrower shall only be applied to the UK Revolving Loan. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments. If insurance or condemnation proceeds received by UK Borrower required to be applied to prepay the Loans in accordance with Section 5.4(c) exceed the outstanding principal balance of the UK Revolving Credit Loan, the excess thereof shall be returned to UK Borrower. If insurance or condemnation proceeds of US Borrower or Term Borrower required to be applied to prepay the Loans in accordance with Section 5.4(c) exceed the outstanding principal balances of the US Revolving Credit Advances and Swing Line Loan and, in the case of the Term Borrower, the Term Loan, the excess thereof shall be returned to US Borrowers or the Term Borrower, as applicable. If the precise amount of insurance or condemnation proceeds allocable to Inventory as compared to Equipment, Fixtures and Real Estate are not otherwise determined, the allocation and application of those proceeds shall be determined by the Applicable Agent, subject to the approval of Requisite Lenders.
