Borrowing Base Exceeded. Whenever the Revolving Facility Usage exceeds the Borrowing Base, the Borrowers shall make, within one (1) Business Day after the Borrowers learn of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal equal to the excess of the Revolving Facility Usage over the Borrowing Base, together with accrued interest on such principal amount.
Borrowing Base Exceeded. At any time when the Borrowing Base is applicable, whenever the outstanding principal balance of all loans exceed the Borrowing Base, Borrower shall immediately pay to Bank the excess of the outstanding principal balance of the loans over the Borrowing Base.
Borrowing Base Exceeded. Whenever the US Revolving Facility Usage exceeds the US Borrowing Base or the Canadian Revolving Facility Usage exceeds the Canadian Borrowing Base, the applicable Borrowers shall make, within one (1) Business Day after any Borrower learns of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal to be applied to the Revolving Credit Loans equal to the excess, together with accrued interest on such principal amount.
Borrowing Base Exceeded. Whenever the outstanding principal balance of Revolving Credit Loans and Swing Loans by the Banks plus Letters of Credit Outstanding exceed the Borrowing Base, the Borrower shall make, within one (1) Business Day after the Borrower learns of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal equal to the excess of the Revolving Facility Usage over the Borrowing Base, together with accrued interest on such principal amount.
Borrowing Base Exceeded. Whenever the outstanding principal balance of Revolving Credit Loans plus the aggregate undrawn face amount of outstanding Letters of Credit issued pursuant to Section 2.9 exceed the Borrowing Base, the Borrower shall make, within five (5) Business Days after the Borrower learns of such excess and whether or not the Lender has given notice to such effect, a mandatory prepayment of principal equal to the excess of the outstanding principal balance of the Revolving Credit Loans over the Borrowing Base, together with accrued interest on such principal amount.
Borrowing Base Exceeded. In the event that at any time the Revolving Facility Usage shall exceed the Borrowing Base, the Borrower shall immediately make a mandatory payment of principal to the Agent in an amount equal to or greater than such amount as shall be necessary to cause the Revolving Facility Usage to be less than the Borrowing Base, and the Agent shall apply such payment to the Revolving Credit Loans of the Banks based upon their Revolving Credit Ratable Share.
Borrowing Base Exceeded. (1) If at any time the Effective Amount of all Revolving Loans and L/C Obligations exceeds the Borrowing Base then in effect, Borrowers shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and Cash Collateralize the L/C Obligations in an amount equal to the applicable excess in accordance with Section 2.07(b)(i).
(2) If at any time the sum of (A) the Effective Amount of all Revolving Loans and L/C Obligations, plus (B) the outstanding amount of any Receivables Facility Indebtedness as of such date exceeds the Borrowing Base (as defined in the Indenture), Borrowers shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and Cash Collateralize the L/C Obligations in an amount equal to the applicable excess in accordance with Section 2.07(b)(i).
Borrowing Base Exceeded. Whenever the outstanding principal balance of the Loans plus the Letters of Credit Outstanding exceeds the Borrowing Base, the Borrower shall make, within one (1) Business Day after the Borrower learns of such excess and whether or not the Agent has given notice to such effect, a mandatory prepayment of principal equal to the excess of the outstanding principal balance of the Loans over the Borrowing Base, together with accrued interest on such principal amount.
Borrowing Base Exceeded. Whenever the outstanding principal balance of Revolving Facility Usage exceeds the Borrowing Base, the Borrower shall make, within one (1) Business Day after the Borrower learns of such excess and whether or not the Agent has given notice to such effect, a mandatory prepayment of principal equal to the excess of the Revolving Facility Usage over the Borrowing Base, together with accrued interest on such principal amount."
E. Minimum EBITDA (Section 8.2.14). Section 8.2.14 [Minimum EBITDA] is hereby amended and restated to read as set forth below.
Borrowing Base Exceeded. Within one (1) Business Day of any date that any Loan Party obtains knowledge that the Revolving Facility Usage exceeds the Borrowing Base, the Borrower shall make a mandatory prepayment of principal on the Revolving Credit equal to or greater than the amount by which the Revolving Facility Usage exceeds the Borrowing Base, together with accrued interest on such principal amount.
