Application of Repayments. (a) To the extent applicable, any repayment made pursuant to Clauses 11.1 (Voluntary Prepayment), 12.2 (Repayment from Net Proceeds), 12.4 (Repayment from Excess Cash Flow), 12.5(Repayment from Debt Proceeds) and 12.6 (Repayment from Equity Proceeds), shall be applied at the end of the Interest Period or Term current at the time of receipt of such proceeds subject to paragraph (c) below, firstly, in repayment of the Term Facility Outstandings (other than the C Facility Outstandings) pro rata to the aggregate amount of A Facility Outstandings, A1 Facility Outstandings, B1 Facility Outstandings, B2 Facility Outstandings, B3 Facility Outstandings, B4 Facility Outstandings, B5 Facility Outstandings and B6 Facility Outstandings on the date of such repayment until all A Facility Outstandings, all A1 Facility Outstandings, all B1 Facility Outstandings, all B2 Facility Outstandings, all B3 Facility Outstandings, all B4 Facility Outstandings, all B5 Facility Outstandings and all B6 Facility Outstandings have been repaid in full, secondly, in repayment of the C Facility Outstandings and, thirdly, in repayment of Revolving Facility Outstandings on the date of such repayment.
(b) Any repayment of A Facility Outstandings or the A1 Facility Outstandings (as applicable) made pursuant to paragraph (a) shall either:
(i) reduce each of the remaining Repayment Instalments for the A Facility or the A1 Facility (as applicable) on a pro rata basis; or
(ii) at the election of the Company made on or prior to the date upon which such repayment of the A Facility Outstandings or the A1 Facility Outstandings is made pursuant to paragraph (a) above, repay the immediately succeeding four Repayment Instalments for the A Facility and/or the A1 Facility in chronological order of maturity, and thereafter in respect of any excess, reduce each of the remaining Repayment Instalments for the A Facility or the A1 Facility on a pro rata basis.
(c) Without prejudice to the provisions of paragraph (a) above, any Lender under the B1 Facility (a “B1 Facility Lender”), the B2 Facility (a “B2 Facility Lender”), the B3 Facility (a “B3 Facility Lender”), the B4 Facility (a “B4 Facility Lender”), the B5 Facility (a “B5 Facility Lender”) or the B6 Facility (a “B6 Facility Lender”), may at its sole discretion during the first 18 months from the Merger Closing Date (or the Structuring Date, whichever is later) (other than in the case of a prepayment in full of the B1 Facility, the B2 Facility, the B3 Facili...
Application of Repayments. Any repayments pursuant to this Section 2.8.3 shall be (i) subject to Section 3.4, and (ii) applied first, to any Reference Rate Committed Loans then outstanding and second, to the LIBOR Committed Loans (in order of the shortest Interest Periods remaining); and third, to the Bid Loans in the order of the shortest Interest Period remaining.
Application of Repayments. Any repayments pursuant to this subsection 2.7.2 shall be (i) subject to Section 3.4, and (ii) applied first to any Reference Rate Loans then outstanding and then to LIBOR Rate Loans with the shortest Interest Periods remaining. Notwithstanding any contrary provision of this subsection 2.7.2, but subject to the provisions of Section 2.6, there shall be deemed outstanding on the Loans other than Swing Loans at all times prior to the Maturity Date principal in the amount of at least $10.00 to the extent necessary to maintain the liens granted in the Collateral Documents.
Application of Repayments. (i) Subject to the provisions of this Section 2.8(h), prior to any optional or mandatory prepayment hereunder, the Borrower shall specify the amount of such prepayment in the notice of such prepayment pursuant to Section 2.8(h)(iii).
(ii) All amounts to be applied to the Obligations pursuant to Section 2.8(c) through (g) shall be applied (a) first, to the repayment of Tranche B Loans and other Tranche B Obligations until the Tranche B Obligations are paid in full, and (b) second, to the repayment of the Loans and other Obligations then due and payable; provided that, no Dividends or Net Cash Proceeds arising from JV Interests or any other “Common Collateral” (as defined in the Intercreditor Agreement) shall be used to pay all or any portion of the Tranche B Obligations. Amounts to be applied pursuant to clause (a) of this Section 2.8(h)(ii) to the repayment of Tranche B Obligations shall be applied (1) first, towards payment of interest (including, but not limited to, any outstanding PIK-B Interest) and fees then due in respect of Tranche B Loans, (2) second, towards payment of principal of Tranche B Loans then due hereunder, and (3) third, towards payment of the Tranche B Exit Fee, with all such amounts distributed ratably among the Tranche B Lenders in accordance with the amounts of principal, interest and fees then due to such Tranche B Lenders. Amounts to be applied pursuant to clause (b) of this Section 2.8(h)(ii) to the repayment of Loans shall be applied to the outstanding Loans, (x) first, towards payment of either the Applicable Premium or Repayment Premium which is due in connection with such repayment, (y) second, towards payment of interest (including, but not limited to, any outstanding PIK Interest) and fees (other than the Applicable Premium or Repayment Premium) then due hereunder, and (z) third, towards payment of principal of the Loans then due hereunder, with all such amounts distributed ratably among the parties entitled thereto in accordance with the amounts of principal, interest and fees then due to such parties.
Application of Repayments. Any repayments pursuant to this Section 2.8.3 shall be (i) subject to Section 3.4, and (ii) applied first, to any Reference Rate Committed Loans then outstanding and second, to any Daily Simple SOFR Rate Loans then outstanding and, third, to any Term SOFR Rate Loans then outstanding (in order of the shortest Interest Periods remaining); and fourth, to any Bid Loans then outstanding (in the order of the shortest Interest Periods remaining).
Application of Repayments. (a) Except as otherwise indicated herein, all payments made to the Administrative Agent by or for the Borrower for the account of the Lenders in connection herewith shall be distributed the same day by the Administrative Agent, in accordance with its normal practice, in funds having same day value among the Lenders to the accounts last designated in writing by such Lenders respectively to the Administrative Agent pro rata in accordance with their respective Participations. Amounts so distributed shall be applied by the Lenders as follows:
(i) to amounts due hereunder in respect of Bankers' Acceptances;
(ii) to amounts (other than principal or interest) due under any Loan Document in respect of fees, expenses and other amounts;
(iii) to amounts due hereunder in respect of interest on any outstanding Advances; and
(iv) to the principal amount of any outstanding Advances. Further, payments of interest or principal received by the Lenders shall be applied against Advances in order of:
(v) in the case of Prime Rate Advances or U.S. Base Rate Advances, their respective Drawdown Dates or dates of Conversion, as the case may be, commencing with the earlier or earliest thereof;
(vi) in the case of Libor Advances, the day following the last day of their respective Interest Periods, commencing with the earlier or earliest thereof; and
(vii) in the case of Bankers' Acceptances, their respective maturity dates, commencing with the earlier or earliest thereof. Payments received by the Administrative Agent on the Maturity Date of Bankers' Acceptances shall be distributed pro rata among the Lenders based on their Participation in each Bankers' Acceptance. Payments received by the Administrative Agent on account of the Principal Amount of Bankers' Acceptances which are maturing or which have previously matured, whether pursuant to enforcement of remedies or otherwise, shall also be so distributed.
(b) Where a sum is to be paid hereunder by the Borrower or any Lender to the Administrative Agent for the account of another party hereto, the Administrative Agent shall not be obliged to make the same available to that other party hereto, whether such party is the Borrower or a Lender, until it has been able to establish that it has actually received such sum, but if it does pay out a sum and it proves to be the case that it had not actually received the sum it paid out, then the party hereto to whom such sum was so made available, whether such party is the Borrower or a Lender,...
Application of Repayments. All voluntary Loan repayments received by the Agent from the Borrower will be applied to the Revolving Loans and Term Loans as the Borrower shall instruct the Agent in writing concurrently with the payment, and in the absence of such written instructions, will be applied first to repayment of the Revolving Loans. All mandatory Loan repayments will be applied to reduce the Term Loans until the Term Loans are paid in full, then to the repayment of the Revolving Loans. All repayments of the Term Loans will be applied to the installment payments due with respect to the Term Loans in inverse order of maturity.
Application of Repayments. All repayments of principal made ------------------------- pursuant to Section 2.26 (except as expressly set forth in Sections 2.26(i), (ii) and (iii)) shall be applied, in the absence of instruction by the Borrower, first to the principal of Reference Rate Loans and then to the principal of LIBOR Loans. Each partial repayment shall be allocated among the Lenders in proportion, as nearly as practicable, to their respective Commitment Percentages, with adjustments to the extent practicable, to equalize any prior repayments not exactly in proportion. Notwithstanding the rights given to the Borrower pursuant to California Civil Code Sections 1479 and 2822 or equivalent provisions in the laws in the State of California, to designate how payments will be applied, the Borrower hereby waives such rights and the Agent shall have the right in its sole discretion, other than as specifically set forth herein, to determine the order and method of application of payments to outstanding Obligations and to revise such application prospectively or retroactively at its discretion.
Application of Repayments. All repayments of a Loan shall be applied first to fees and expenses due Lender under the Loan Documents, then to accrued and unpaid interest, and then to the outstanding principal balance of the Loan.
Application of Repayments. 22 2.9 Interest on Prime Rate Advances...........................23 2.10 Interest on U.S. Base Rate Advances.......................23 2.11
