Common use of Application of Voluntary Prepayments by Type of Loans Clause in Contracts

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 or on behalf of the Borrower Representative in the applicable notice of prepayment; provided that any voluntary prepayment pursuant to this Section 2.15(a) must be applied pro rata to all Term Loans of the same Class (but may be applied to (x) any Class of Term Loans (and, for the avoidance of doubt, prepayments of the Term Loans do not have to be applied to all Classes of Term Loan) and (y) the Installments thereof, in each case as specified by the Borrower Representative); and provided further, that in the event the Borrower Representative fails to specify the Loans (including, in the case of the Term Loans, the Class) to which any such prepayment shall be applied, such prepayment shall be applied as follows: first, to repay outstanding Swing Line Loans of the U.S. Borrower to the full extent thereof; second, to repay outstanding Revolving Loans of such Borrower to the full extent thereof; and third, if such prepayment is made by (or on behalf of) the U.S. Borrower, to prepay the Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof); and further applied on a pro rata basis to reduce the scheduled remaining Installments of principal of the Tranche B-1 Term Loans and Tranche B-2 Term Loans and the Incremental Term Loans.

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 or on behalf of the applicable Borrower Representative in the applicable notice of prepayment; provided provided, that (i) any voluntary prepayment pursuant to this Section 2.15(a) must of Term Loans shall be applied made on a pro rata basis to all Term Loans of the same Class (but may be applied to (x) any each Class of Term Loans (and, for based upon the avoidance of doubt, prepayments then outstanding principal amounts of the Term Loans do not have to be applied to all respective Classes of Term LoanLoans); provided that (x) in lieu of such application on a pro rata basis to each Class of Term Loans, at any time the applicable Borrower may, at its option, direct that such prepayment be applied (in which case it shall be applied) (I) first, to then outstanding Tranche B Term Loans on a pro rata basis among Tranche B Dollar Term Loans and Tranche B Euro Term Loans until all such Tranche B Term Loans have been repaid in full, and (II) thereafter, to the successive Class or Classes of Term Loans with the then next earliest Term Loan Maturity Date (ratably among such Classes, if multiple Classes exist with the same Maturity Date), until all such Term Loans have been repaid in full, and so on, and (y) it is understood and agreed that the Installments thereofpreceding clause (x) may be modified as expressly provided in Section 2.24 or 2.26 in connection with a Refinancing Amendment or Extension Amendment, in each as the case as specified by the Borrower Representative); may be and provided further, that (ii) in the event the any Borrower Representative fails to specify the Loans (including, in the case of the Term Loans, the Class) to which any such prepayment shall be applied, such prepayment shall be applied as follows: first, to repay outstanding Swing Line Loans and L/C Borrowings (in the case of the U.S. Borrower Parent Borrower) to the full extent thereof; second, to repay outstanding Revolving Loans of such Borrower to the full extent thereof; and third, if such prepayment is made by (or on behalf of) the U.S. Borrower, to prepay the Term Loans on a pro rata basis to each Class of Term Loans (in accordance with the respective outstanding principal amounts thereof); and further applied on a pro rata basis to reduce the scheduled remaining Installments of principal of the Tranche B-1 Term Loans and Tranche B-2 Term Loans and the Incremental as directed by Parent Borrower (but on a pro rata basis among Term Loans).

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 or on behalf of the Borrower Representative in the applicable notice of prepayment; provided that any voluntary prepayment pursuant to this Section 2.15(a) must be applied pro rata to all Term Loans of the same Class (but may be applied to (x) any Class of Term Loans (and, for the avoidance of doubt, prepayments of the Term Loans do not have to be applied to all Classes of Term Loan) and (y) the Installments thereof, in each case as specified by the Borrower RepresentativeBorrower); and provided further, that in the event the Borrower Representative fails to specify the Loans (including, in the case of the Term Loans, the Class) to which any such prepayment shall be applied, such prepayment shall be applied as follows: first, to repay outstanding Swing Line Loans of the U.S. Borrower to the full extent thereof; second, to repay outstanding Revolving Loans of such the Borrower to the full extent thereof; and third, if such prepayment is made by (or on behalf of) the U.S. Borrower, to prepay the Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof); and further applied to prepay to the next eight (8) scheduled Installments of such Term Loans in direct order of maturity and thereafter applied on a pro rata basis to reduce the remaining scheduled remaining Installments of principal of the Tranche B-1 such Term Loans and Tranche B-2 Term Loans and the Incremental Term Loanson a pro rata basis (in accordance with respective outstanding principal amounts thereof).