APPLICATION OF REDUCTIONS AND PREPAYMENTS Sample Clauses

APPLICATION OF REDUCTIONS AND PREPAYMENTS. Any and all Revolving Credit Commitment reductions or prepayments (mandatory or voluntary) made pursuant to any particular item of this Section 2.1c shall be made in addition to, and not in lieu of, any and all Revolving Credit Commitment reductions and prepayments (mandatory or voluntary) to be made pursuant to any other item of this Section 2.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. Subject to Section 9.04, all prepayments of the Obligations under this Section 2.03(b) shall be (A) made without set-off, deduction or counterclaim and (B) applied first, to pay interest, LIBOR breakage costs under Section 2.10, late charges, fees and expenses under the Loan Documents, second, to pay principal of the Term Loans (applied in accordance with Section 2.03(f)) until payment in full thereof, third, to the payment of the Revolving Credit Loans, fourth, to Cash Collateralize the L/C Obligations in accordance with Section 2.02(i), and last, to the payment of other Obligations; provided, however, that the Borrowers may direct in writing that all or any portion of prepayments under this Section 2.03(b) shall be applied to the Revolving Credit Loans before application to the Term Loans. Mandatory prepayments made pursuant to this Section 2.03(b) shall, at the Borrowers’ option exercisable in writing at the time of such prepayment, be held by the Administrative Agent as cash collateral for a period not to exceed (30) days for application to the payment of LIBOR Loans with Interest Periods expiring during such 30-day period so long as (x) after application of all or a portion of such prepayments, there remain no Base Rate Loans then outstanding, (y) there exists no Default, and (z) such cash collateral shall be held by or on behalf of the Administrative Agent without any obligation to the Borrowers to accrue or pay interest thereon. At the expiration of such 30-day period, all remaining cash collateral so held by or on behalf of the Administrative Agent (after payment of LIBOR Loans with Interest Periods expiring during such 30-day period) shall be applied to the payment of the Obligations. Each mandatory prepayment under Section 2.03(b)(i), (ii), (iii) or (iv), to the extent applied to the payment of the Revolving Credit Loans, shall effect a contemporaneous dollar-for-dollar permanent reduction in the Aggregate Revolving Credit Commitment Limit.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. All prepayments of the Obligations under this Section 5.5(b): (A) shall be made without set-off, deduction or counterclaim; (B) shall be applied to payment of the Loans pro rata (based upon the outstanding principal balance thereof); and (C) unless otherwise specified in this Section 5.5(b), shall be applied to remaining installments thereof (a) first, to repay any amounts outstanding under the Term Loan on a pro rata basis based on the amounts outstanding immediately prior to such repayment and (b) second, after the Term Loan has been paid in full, to the repayment (and permanent Revolving Commitment reduction) of the Revolving Loan. Any such repayment under clause (b) above shall cause a permanent reduction of the Revolving Commitment in an amount equal to such repayment, and each Borrower shall use such amounts to cash collateralize outstanding Letters of Credit and other Letter of Credit Obligations as described herein, to the extent no additional Revolving Loans remain outstanding.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. Any and all Revolving Credit Commitment reductions or mandatory or voluntary prepayments made pursuant to any particular item of this Section 2.1f shall be made in addition to, and not in lieu of, any and all Revolving Credit Commitment reductions and mandatory and voluntary prepayments to be made pursuant to any other item of this Section 2.1f. All such mandatory and voluntary prepayments -30- of Revolving Credit Loans shall be accompanied by all accrued and unpaid interest thereon, all amounts due pursuant to Section 2.2g, if any, and, in the case of a permanent reduction of the Revolving Credit Commitment to zero, any accrued and unpaid Commitment Fees and any other outstanding Obligations relating to the Revolving Credit Commitment which are then due and payable. All such mandatory and voluntary prepayments shall be applied by the Bank to repay Base Rate Loans first, and then to repay Euro-Rate Loans.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. Any and all Revolving Credit Commitment reductions or mandatory or voluntary prepayments made pursuant to any particular item of this Section 2.1c shall be made in addition to, and not in lieu of, any and all Revolving Credit Commitment reductions and mandatory and voluntary prepayments to be made pursuant to any other item of this Section 2.1c. All such mandatory and voluntary prepayments shall be applied to repay Base Rate Loans or Euro-Rate Loans, at the Borrower's option, provided that the Borrower shall deliver written notice of such election prior to or simultaneously with such election. If no election is made by the Borrower, then all such mandatory and voluntary prepayments shall be applied by the Administrative Agent to first repay Base Rate Loans, and any excess shall be applied to repay Euro-Rate Loans. All mandatory prepayments and permanent commitment reductions which occur as a function of items (iii) and (iv) above and any voluntary permanent commitment reductions and related prepayments which occur as a function of item (ii) above shall be applied to reduce scheduled commitment reductions required pursuant to Subsection 2.1c(i) on a pro rata basis. All such mandatory and voluntary prepayments shall be accompanied by all accrued and unpaid interest thereon, all amounts due pursuant to Section 2.2(e)(iv), if any, and, in the case of a permanent reduction of the Revolving Credit Commitment to zero, any accrued and unpaid Commitment Fees and any other outstanding Obligations which are then due and payable.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. All prepayments of the Notes under this SECTION 1.06 (A) shall be made without set-off, deduction or counterclaim, and (B) unless otherwise specified in this SECTION 1.06, shall be applied first, to overdue interest, fees and expenses hereunder, and second, to pay principal of the Notes.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. All prepayments of the Notes under this SECTION 2.03, (i) shall be made without set-off, deduction or counterclaim, (ii) shall (except as provided in SECTION 2.03(c)(i))be applied to payment of the Lenders' Notes PRO RATA (based upon the outstanding principal balance thereof) and (iii) unless otherwise specified in this SECTION 2.03, shall be applied FIRST, to pay applicable prepayment premiums, SECOND, to pay to interest, fees and expenses hereunder, and THIRD to pay principal of the Notes, PROVIDED that applications of prepayments of principal shall be made, proportionately, to subsequent scheduled payments under the Notes, in the inverse order in which they appear.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. All prepayments made pursuant to subsections 2.9(c) or (d) shall be applied to repay Base Rate Loans or Eurodollar Loans, at the Borrower's option, provided that the Borrower shall deliver written notice of such election prior to or simultaneously with such prepayment. If no election is made by the Borrower, then all such voluntary prepayments shall be applied by the Bank to first repay Base Rate Loans, and any excess shall be applied to repay Eurodollar Loans, with payments applied to Eurodollar Loans being applied in order of next maturing Interest Periods. All such mandatory and voluntary prepayments shall be accompanied by all accrued and unpaid interest thereon, all amounts due pursuant to subsection 2.9(b) or Section 2.14, if any, and, in the case of a permanent reduction of the Revolving Credit Commitment to zero, any accrued and unpaid Commitment Fees.
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APPLICATION OF REDUCTIONS AND PREPAYMENTS. Voluntary reductions of the Commitments shall be applied to scheduled reductions thereof in inverse order of maturity and voluntary prepayments of the Term Loans shall be applied pro rata to the Initial Term Loans and the Incremental Term Loans (if any are outstanding) and to the respective installments thereof in inverse order of
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Related to APPLICATION OF REDUCTIONS AND PREPAYMENTS

  • 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:

  • Application of Prepayments Subject to Section 1.10(c), any prepayments pursuant to Section 1.8(b), 1.8(c) or 1.8(d) shall be applied by the Issuer to prepay the outstanding Term Loans pro rata based upon the respective amounts thereof (which, if any Other Term Loans are then outstanding, shall consist of a prepayment of Other Term Loans in an amount equal to the Other Pro Rata Share of such prepayment of Term Loans and a prepayment of Term Loans that are not Other Term Loans in the remaining amount). The Issuer shall provide Agent and the Purchasers with at least two Business Days prior written notice of any prepayment proposed to be made pursuant to Section 1.8(b), 1.8(c) or 1.8(d). Notwithstanding the foregoing, each Purchaser may reject all or a portion of its pro rata share of any mandatory prepayment (such declined amounts, the “Declined Proceeds”) of the Term Loans otherwise required to be made pursuant to clauses (c), (d) and (e) of this Section 1.8 by providing written notice (each, a “Rejection Notice”) to Agent and the Issuer no later than 5:00 p.m. one (1) Business Day prior to the applicable prepayment date. Each Rejection Notice from a Purchaser shall specify the principal amount of the mandatory prepayment of Term Loans to be rejected by such Purchaser. If a Purchaser fails to deliver a Rejection Notice to the Purchasers within the time frame specified above or such Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such failure will be deemed a rejection by such Purchaser of the total amount of such mandatory prepayment of such Term Loans otherwise owed to such Purchaser. To the extent that any prepayment pursuant to this Section 1.8 would otherwise be applied to a LIBOR Rate Loan prior to the last day of the Interest Period applicable thereto, and no Default or Event of Default exists or is continuing, the Issuer may instruct each Purchaser in writing to hold such prepayment as cash collateral until the last day of the applicable Interest Period (and interest in respect of the amounts so held shall continue to accrue thereon at the rate provided hereunder for the Term Loans which such amounts are intended to repay until such amounts are used in full to repay such Term Loans) and then such Purchaser shall apply such prepayment to pay such LIBOR Rate Loan on the last day of the applicable Interest Period. Together with each prepayment under this Section 1.8, the Issuer shall pay any amounts required pursuant to Section 10.4 hereof.

  • Application of Voluntary Prepayments Unless otherwise provided in this Section 2.12 or elsewhere in any Loan Document, all payments and any other amounts received by the Administrative Agent from or for the benefit of the Borrower shall be applied to repay the Obligations the Borrower designates.

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by Borrower in the applicable notice of prepayment; provided that, in the event Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • Allocation of Prepayments Before any optional or mandatory prepayment of Borrowings 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).

  • Application of Mandatory Prepayments All amounts required to be paid pursuant to this Section 2.05(b) shall be applied as follows:

  • Application of Mandatory Prepayments by Type of Loans Except as provided in subsection 2.4D, any amount required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Revolving Loan Commitment Amount pursuant to subsections 2.4B(iii)(a)-(f) shall be applied first to prepay the Term Loans to the full extent thereof, second, to the extent of any remaining portion of such amount, to prepay the Swing Line Loans to the full extent thereof and to permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, third, to the extent of any remaining portion of such amount, to prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, fourth, to the extent of any remaining portion of such amount, to further permanently reduce the Revolving Loan Commitment Amount to the full extent thereof and fifth, to the extent of any remaining portion of such amount, to cash collateralize any outstanding Letters of Credit. Any mandatory reduction of the Revolving Loan Commitment Amount pursuant to this subsection 2.4B shall be in proportion to each Revolving Lender’s Pro Rata Share.

  • Application of prepayment The provisions of Clause 8 shall apply in relation to the prepayment.

  • Repayments and Prepayments; Application The Borrower agrees that the Loans shall be repaid and prepaid pursuant to the following terms.

  • Repayments and Prepayments The Borrower shall repay in full the unpaid principal amount of each Loan upon the Stated Maturity Date therefor. Prior thereto, the Borrower

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