Application of Prepayments Reductions. (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:
Appears in 4 contracts
Samples: Revolving Credit and Guaranty Agreement (Blue Apron Holdings, Inc.), Pledge and Security Agreement (Blue Apron Holdings, Inc.), Pledge and Security Agreement (Blue Apron Holdings, Inc.)
Application of Prepayments Reductions. (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:: first, to repay outstanding Base Rate Loans to the full extent thereof; and second, to repay outstanding Eurodollar Rate Loans to the full extent thereof, as the Administrative Agent may determine.
Appears in 3 contracts
Samples: Revolving Credit and Guaranty Agreement (Compass, Inc.), Revolving Credit and Guaranty Agreement (Blue Apron Holdings, Inc.), Revolving Credit and Guaranty Agreement (Slack Technologies, Inc.)
Application of Prepayments Reductions. (ai) Any prepayment of any Loan pursuant to Section 2.11 2.07(a) shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:to prepay each Class of outstanding Loans on a pro rata basis and, within each Class, to reduce the remaining scheduled installments of principal in direct order of maturity.
Appears in 2 contracts
Samples: Intercreditor Agreement, Intercreditor Agreement (Staples Inc)
Application of Prepayments Reductions. (a) Application of Voluntary Prepayments by Type of Loans. Any prepayment of any Loan pursuant to Section 2.11 2.03(a) shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:
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Application of Prepayments Reductions. (a) Any i)Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:: first, to repay outstanding Base Rate Loans to the full extent thereof; and second, to repay outstanding Term SOFR Loans to the full extent thereof, as the Administrative Agent may determine.
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