Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Term Loans and Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner that minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Unless the application of such prepayment is otherwise designated by Borrower, any prepayment of Loans shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to subsection 2.6D.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Tranche A Term Loans, Tranche B Term Loans and Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to subsection 2.6D.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Tranche A Term Loans, Tranche B Term Loans and Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to subsection 2.6D. If on any day on which Loans would otherwise be required to be prepaid pursuant to subsection 2.4B(iii), but for the operation of this subsection 2.4B(iv)(d) (each a “Prepayment Date”), the amount of such required prepayment exceeds the then outstanding aggregate principal amount of the Loans which consist of Base Rate Loans, and no Event of Default or Potential Event of Default has occurred and is continuing or would occur as a result thereof, then on such Prepayment Date, Borrower may, at its option, deposit Cash into an investment account with Administrative Agent (the “Investment Account”) in an amount equal to such excess; provided that (x) Borrower shall grant to Administrative Agent, on behalf of Lenders, a First Priority security interest in such Investment Account and shall execute and deliver such agreements and instruments as Administrative Agent may reasonably request in order to perfect such security interest, and (y) Administrative Agent shall invest such Cash in Cash Equivalents only. If Borrower makes such deposit (a) only the outstanding Base Rate Loans shall be required to be prepaid on such Prepayment Date and the LIBOR Loans shall be deemed to be outstanding and accrue interest until prepaid, and (b) on the last day of each Interest Period in effect after such Prepayment Date, Administrative Agent is irrevocably authorized and directed to apply funds held in the Investment Account (and liquidate investments held in the Investment Account as necessary) to prepay the LIBOR Loans for which the Interest Period is then ending until the aggregate of such prepayments equals the prepayment which would have been required on such Prepayment Date but for the operation of this subsection 2.4(iv)(d). So long as no Event of Default or Potential Event of Default has occurred and is continuing or would occur as a result thereof, at such time as the aggregate prepayments made pursuant to the immediately preceding sentence equals the prepayment which would have been required on such Prepayment Date but for the operation of this subsection 2.4B(iv)(d) (and excluding any amounts which would otherwise have ...
Application of Prepayments to Base Rate Loans and LIBOR Loans. (1) In connection with any voluntary prepayments by Borrower pursuant to subsection 2.4B(i), any such voluntary prepayment shall be applied, first, to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner that minimizes the amount of any payments required to be made by Borrower pursuant to subsection 2.6D.
(2) In connection with any mandatory prepayments by Borrower of Term Loans pursuant to subsection 2.4B(iii), such mandatory prepayments shall be applied on a pro rata basis to the then outstanding Term Loans being prepaid irrespective of whether such outstanding Term Loans are Base Rate Loans or LIBOR Loans; provided that if no Lenders exercise the right to waive a given mandatory prepayment of the Term Loans pursuant to subsection 2.4B(iv)(e), then, with respect to such mandatory prepayment, the amount of such mandatory prepayment shall be applied, first, to Term Loans that are Base Rate Loans to the full extent thereof before application to Term Loans that are LIBOR Loans in a manner that minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.6D.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Any mandatory prepayments of any Loans pursuant to subsection 2.4B(iii) (other than clause (e) thereof) shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner that minimizes the amount of losses, expenses and liabilities of the nature described in subsection 2.6D that may be sustained by a Lender.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Term Loans and Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner that minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D; provided, however, that if no Event of Default shall have occurred and be continuing on the required prepayment date, Company may elect that the remainder of such prepayments not applied to prepay Base Rate Loans be deposited in the Collateral Account and applied thereafter to prepay the LIBOR Loan or Loans with Interest Periods expiring on a date or dates nearest the date of deposit in accordance with this subsection 2.4B(iv), upon the earlier of (I) expiration of such Interest Periods and (II) the occurrence of an Event of Default.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner which minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D; PROVIDED, HOWEVER, if no Event of Default has occurred and is continuing, that Company may elect that the remainder of such prepayments not applied to prepay Base Rate Loans be deposited in the Collateral Account and applied thereafter to prepay the LIBOR Loan or Loans with Interest Periods expiring on a date or dates nearest the date of deposit in accordance with this subsection 2.4A(iv), upon expiration of such Interest Periods.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Loans Against Imports being prepaid separately, any prepayment thereof shall be applied as specified by Company in the applicable notice of prepayment; provided that in the event Company fails to specify how any such prepayment shall be applied, such prepayment shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner which minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D.
Application of Prepayments to Base Rate Loans and LIBOR Loans. Considering Term Loans and Revolving Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Loans, in each case in a manner that minimizes the amount of any payments required to be made by Company pursuant to subsection 2.6D; provided, however, that Company may elect that the remainder of such prepayments not applied to prepay Base Rate Loans be deposited in the Collateral Account and applied thereafter to prepay the LIBOR Loan or Loans with Interest Periods expiring on a date or dates nearest the date of deposit in accordance with this subsection 2.4B(iv), upon expiration of such Interest Periods.
