Common use of Domestic Borrowing Base Clause in Contracts

Domestic Borrowing Base. If for any reason 105% of the Multi Currency Revolving B Outstandings plus the Domestic Revolving A Outstandings plus the outstanding amount of the Term Loan plus the outstanding amount of the Incremental Term Loans at any time exceed the Domestic Borrowing Base, PRA shall immediately prepay, at its option, the Term Loan, Incremental Term Loan, Revolving Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that PRA shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(v) unless, after the prepayment in full of the Term Loan, Incremental Term Loan, Domestic Revolving A Loans and the Multi Currency Revolving B Loans, the L/C Obligations exceed the Domestic Borrowing Base.

Appears in 1 contract

Samples: Credit Agreement (Portfolio Recovery Associates Inc)

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Domestic Borrowing Base. If for any reason 105100% of the Total Domestic Revolving Outstandings plus the Multi Currency Revolving B Outstandings plus the Domestic Revolving A Outstandings plus the outstanding amount of the Term Loan Loans plus the outstanding amount of the Incremental Term Loans Loan at any time exceed the Domestic Borrowing Base, PRA shall immediately prepay, at its option, the Term LoanLoans, Incremental Term Loan, Revolving Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that PRA shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(v) unless, after the prepayment in full of the Term Loan, Incremental Term Loan, Domestic Multi Currency Revolving A Loans and the Multi Currency Domestic Revolving B Loans, the L/C Obligations exceed the Domestic Borrowing Base.

Appears in 1 contract

Samples: Credit Agreement (Pra Group Inc)

Domestic Borrowing Base. If for any reason 105100% of the Multi Currency Revolving B Outstandings plus the Total Domestic Revolving A Outstandings plus the outstanding amount of the Term Loan LoanLoans plus the outstanding amount of the Incremental Term Loans Loan at any time exceed the Domestic Borrowing Base, PRA shall immediately prepay, at its option, the Term LoanLoanLoans, Incremental Term Loan, Revolving Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that PRA shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(v) unless, after the prepayment in full of the Term Loan, Incremental Term Loan, Loan and the Domestic Revolving A Loans and the Multi Currency Revolving B Loans, the L/C Obligations exceed the Domestic Borrowing Base.

Appears in 1 contract

Samples: Loan Modification Agreement (Pra Group Inc)

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Domestic Borrowing Base. If for any reason 105100% of the Multi Currency Revolving B Outstandings plus the Total Domestic Revolving A Outstandings plus the outstanding amount of the Term Loan Loans plus the outstanding amount of the Incremental Term Loans Loan at any time exceed the Domestic Borrowing Base, PRA shall immediately prepay, at its option, the Term LoanLoans, Incremental Term Loan, Revolving Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that PRA shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(v) unless, after the prepayment in full of the Term Loan, Incremental Term Loan, Loan and the Domestic Revolving A Loans and the Multi Currency Revolving B Loans, the L/C Obligations exceed the Domestic Borrowing Base.

Appears in 1 contract

Samples: Credit Agreement (Pra Group Inc)

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