Common use of Excess Cash Balances Clause in Contracts

Excess Cash Balances. If at any time while any Borrowings are outstanding the Credit Parties have any cash or cash equivalents (other than cash collateral deposited pursuant to Section 2.08(j)) in excess of $35,000,000 in the aggregate at any time (the “Excess Cash”), the Borrower shall prepay the Borrowings in an amount equal to the amount of such Excess Cash within two Business Days after such Excess Cash exists. If any amount is required to be prepaid pursuant to this Section 3.04(e), the Administrative Agent is hereby authorized at any time and from time to time to debit and apply any and all deposits (other than cash collateral deposited pursuant to Section 2.08(j)) at any time held by the Administrative Agent or any of its Affiliates to or for the credit or the account of the Borrower or any other Credit Party to make such prepayment. Each prepayment of Borrowings pursuant to this Section 3.04(e) shall be applied, first, ratably to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. Each prepayment of Borrowings pursuant to this Section 3.04(e) shall be applied ratably to the Loans included in the prepaid Borrowings. Prepayments pursuant to this Section 3.04(e) shall be accompanied by accrued interest to the extent required by Section 3.02.

Excess Cash Balances. (i) If at any time while any Borrowings are outstanding the Credit Loan Parties have any cash or cash equivalents (other than cash collateral deposited pursuant to Section 2.08(j)) in excess Excess Cash on the fifteenth day of $35,000,000 in the aggregate at any time (the “Excess Cash”)each month, the Borrower shall prepay repay the Borrowings then-outstanding Revolving Loans on such date (or if not a Business Day, the immediately succeeding Business Day), which prepayment shall be in an amount equal to the amount of such Excess Cash within two Business Days after such and, if any Excess Cash exists. If any amount is required remains after all outstanding Revolving Loans are fully repaid, the Borrower shall pay to be prepaid pursuant to this Section 3.04(e), the Administrative Agent is hereby authorized at any time on behalf of the Lenders an amount equal to the lesser of such remaining Excess Cash and from time the amount of LC Exposure to time to debit and apply any and all deposits (other than be held by the Collateral Agent as cash collateral deposited pursuant to as provided in Section 2.08(j)) at any time held by the Administrative Agent or any of its Affiliates to or for the credit or the account of the Borrower or any other Credit Party to make such prepayment. Each prepayment of Borrowings pursuant to this Section 3.04(e) Such repayments shall be applied, first, ratably to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. Each prepayment of Borrowings pursuant to this Section 3.04(e3.04(d)(i) shall be applied ratably to the Revolving Loans included in the prepaid Borrowingsso repaid. Prepayments pursuant to this Section 3.04(e3.04(d)(i) shall be accompanied by accrued interest to the extent as required by Section 3.02.

Excess Cash Balances. If at any time while any Borrowings Loans are outstanding the Credit Parties have any cash or cash equivalents (other than cash collateral deposited pursuant to Section 2.08(j)Excluded Cash) in excess of $35,000,000 in the aggregate at any time for a period of three Business Days (the “Excess Cash”), the Borrower shall shall, on the following Business Day (i) prepay the Borrowings in an aggregate principal amount equal to such excess and (ii) if any excess remains after prepaying all of the amount Borrowings as a result of an LC Exposure, Cash Collateralize such Excess Cash within two Business Days after such Excess Cash exists. If any amount is required to be prepaid pursuant to this Section 3.04(e), the Administrative Agent is hereby authorized at any time and from time to time to debit and apply any and all deposits (other than cash collateral deposited pursuant to excess as provided in Section 2.08(j)) at any time held by the Administrative Agent or any of its Affiliates to or for the credit or the account of the Borrower or any other Credit Party to make such prepayment. Each prepayment of Borrowings pursuant to this Section 3.04(e) shall be applied, first, ratably to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. Each prepayment of Borrowings pursuant to this Section 3.04(e) shall be applied ratably to the Loans included in the prepaid Borrowings. Prepayments pursuant to this Section 3.04(e) shall be accompanied by accrued interest to the extent required by Section 3.02.

Excess Cash Balances. If at any time while any Borrowings Revolving Loans are outstanding the Credit Parties have any cash or cash equivalents (other than cash collateral deposited pursuant to Section 2.08(j)Excluded Cash) in excess of $35,000,000 in the aggregate at any time for a period of three Business Days (the “Excess Cash”), the Borrower shall shall, on the following Business Day (i) prepay the Borrowings in an aggregate principal amount equal to the amount of such Excess Cash within two Business Days excess and (ii) if any excess remains after such Excess Cash exists. If any amount is required to be prepaid pursuant to this Section 3.04(e), the Administrative Agent is hereby authorized at any time and from time to time to debit and apply any and prepaying all deposits (other than cash collateral deposited pursuant to Section 2.08(j)) at any time held by the Administrative Agent or any of its Affiliates to or for the credit or the account of the Borrower or Borrowings of Revolving Loans as a result of any other Credit Party to make LC Exposure, Cash Collateralize such prepaymentexcess as provided in Section 2.09(j). Each prepayment of Borrowings of Revolving Loans pursuant to this Section 3.04(e) shall be applied, first, ratably to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. Each prepayment of Borrowings of Revolving Loans pursuant to this Section 3.04(e) shall be applied ratably to the Revolving Loans included in the prepaid Borrowings. Prepayments pursuant to this Section 3.04(e) shall be accompanied by accrued interest to the extent required by Section 3.02.

Excess Cash Balances. If at If, on any time while any Borrowings are outstanding Business Day, the Credit Loan Parties have any cash or cash equivalents (other than cash collateral deposited pursuant to Section 2.08(j)) in excess of $35,000,000 in the aggregate at any time (the “Excess Cash”), the Borrower shall prepay repay the Borrowings then-outstanding Revolving Loans on the immediately succeeding Business Day (other than as permitted pursuant to Section 6.02(d)), which prepayment shall be in an amount equal to the amount of such Excess Cash within two Business Days after such and, if any Excess Cash exists. If any amount is required remains after all outstanding Revolving Loans are fully repaid, the Borrower shall pay to be prepaid pursuant to this Section 3.04(e), the Administrative Agent is hereby authorized at any time on behalf of the Lenders an amount equal to the lesser of such remaining Excess Cash and from time the amount of LC Exposure to time to debit and apply any and all deposits (other than cash collateral deposited pursuant to Section 2.08(j)) at any time be held by the Administrative Agent or any of its Affiliates to or for the credit or the account of the Borrower or any other Credit Party to make such prepaymentas cash collateral as provided in Section 2.08(j). Each prepayment of Borrowings pursuant to this Section 3.04(e) Such repayments shall be applied, first, ratably to any ABR Borrowings then outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. Each prepayment of Borrowings pursuant to this Section 3.04(e3.04(d) shall be applied ratably to the Revolving Loans included in the prepaid Borrowingsso repaid. Prepayments pursuant to this Section 3.04(e3.04(d) shall be accompanied by accrued interest to the extent as required by Section 3.02.