Application of Prepayments under the Credit FacilitiesRevolving Facility Sample Clauses

Application of Prepayments under the Credit FacilitiesRevolving Facility. Prior to any optional prepayment with respect to the Credit FacilitiesRevolving Facility hereunder, the Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(f), subject to the provisions of this Section 2.10(d). Any prepayments and/or reductions required pursuant to Section 2.10(b)(iv) or Section 2.12(e) shall be applied pro rata between the Term Facility andto the Revolving Facility to (i) prepay principal of outstanding Term Loans and to reduce the balance of the Term Loans due on the Term Loan Maturity Date on a pro rata basis among the Lenders, and (ii) reduce on a pro rata basis the scheduled reductions of the Revolving Facility, including the reduction on the Revolving Maturity Date (with a corresponding reduction in Revolving Commitments). No permanent reduction of Revolving Commitments pursuant to the immediately preceding sentence shall be required to be accompanied by a prepayment of Revolving Loans unless, after giving effect to such reduction, the Total Revolving Exposure would exceed the Total Revolving Commitments, in which case, the Borrower shall, on the date of such reduction, repay or prepay Revolving Loans in an aggregate amount sufficient to eliminate such excess for such date. The Borrower may retain the portion of the amount of any reduction which has been applied to permanently reduce undrawn Revolving Commitments. Any prepayments required pursuant to Section 2.10(b)(ii), Section 2.10(b)(iii) or Section 2.10(b)(v) shall be applied to reduce the outstanding Revolving Loans (but without any corresponding reduction in Revolving Commitments). Optional prepayments of Term Loans pursuant to Section 2.10(a) shall be applied to reduce the balance of the Term Loan under Section 2.09. If at any time after the Initial Borrowing Date the Term Facility hereunder, including any Accordion Facility, is subject to any scheduled repayments prior to the Term Loan Maturity Date, then (i) any prepayments pursuant to Section 2.10(b)(iv) or Section 2.12(e) shall be applied to reduce on a pro rata basis such scheduled repayments and (ii) any optional prepayments of Term Loans pursuant to Section 2.10(a) shall be applied to reduce the scheduled repayments of such Term ​ Loans in direct order of maturity, in each case, including any scheduled repayment due on the Term Loan Maturity Date.
Sample 1
AutoNDA by SimpleDocs

Related to Application of Prepayments under the Credit FacilitiesRevolving Facility

  • Reduction of Commitment Prepayment of Loans Section 2.05 of the Financing Agreement is hereby amended as follows:

  • Limitation on Prepayment of LIBOR Rate Loans The Borrower may not prepay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such prepayment is accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.8.2 [Capital Requirements] and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender or the Issuing Lender, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof.

  • Limitation on Repayment of LIBOR Rate Loans The Borrower may not repay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Repayment of Loans; Evidence of Indebtedness (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Administrative Agent for the account of each Lender that shall have made any Competitive Loan the then unpaid principal amount of each Competitive Loan of such Lender on the last day of the Interest Period applicable to such Loan.

  • Investments, Loans, Advances, Guarantees and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

  • Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.

  • Restriction on Prepayment of Indebtedness The Borrower and the Guarantors will not, and will not permit their respective Subsidiaries to, (a) subject to §12.5, prepay, redeem, defease, purchase or otherwise retire the principal amount or pay any termination, breakage or similar payments under Derivative Contracts, in whole or in part, of any Indebtedness other than the Obligations and the Hedge Obligations after the occurrence and during the continuance of any Event of Default; provided, that the foregoing shall not prohibit (x) the prepayment of Indebtedness which is financed solely from the proceeds of a new loan which would otherwise be permitted by the terms of §8.1; and (y) the prepayment, redemption, defeasance or other retirement of the principal of Indebtedness secured by Real Estate which is satisfied solely from the proceeds of a sale of the Real Estate securing such Indebtedness; and (b) modify any document evidencing any Indebtedness (other than the Obligations) to accelerate the maturity date of such Indebtedness after the occurrence and during the continuance of an Event of Default.

  • Repayment and Amortization of Loans; Evidence of Debt (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date, (ii) to the Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the Maturity Date and demand by the Administrative Agent, and (iii) to the Administrative Agent the then unpaid principal amount of each Overadvance on the earlier of the Maturity Date and demand by the Administrative Agent.

Time is Money Join Law Insider Premium to draft better contracts faster.