Excess Cash Prepayments Sample Clauses

Excess Cash Prepayments. On either (a) the last Business Day of each calendar week or if a Default, Event of Default or Borrowing Base Deficiency has occurred and is continuing, on any Business Day (such day, whether pursuant to clause (a) or (b), the “Excess Cash Test Day”), if Excess Cash at the end of such Excess Cash Test Day, is greater than $1,000,000, the Borrower shall make a mandatory prepayment in respect of the outstanding amount of the Advances as soon as reasonably practicable but no later than the third Business Day following such Excess Cash Test Day (for the avoidance of doubt, and by way of example, in the event that Excess Cash at the end of the Excess Cash Test Day is $1,000,001, the full $1,000,001 shall be prepaid). Each prepayment under this Section 2.5(g) shall be accompanied, on the date of such prepayment, by a notice from the Borrower to the Administrative Agent specifying (i) the amount of such prepayment, (ii) the Eurodollar Advance(s), if any) that are being prepaid by such prepayment, and (iii) the date of such prepayment, which notice may be delivered electronically. Each prepayment under this Section 2.5(g) shall be applied to the Advances as determined by the Borrower.
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Excess Cash Prepayments. For each twelve (12) month period ending on July 31st of any fiscal year of the Company, commencing with the twelve (12) month period ending July 31, 2000, the Company shall prepay the outstanding principal balance of the Note, together with all accrued and unpaid interest thereon, in an amount equal to 25.0% of the Excess Cash for such twelve (12) month period. Such mandatory prepayment shall be paid by the Company to the Holder not later than November 1st immediately following the end of such twelve (12) month period (the first payment of which shall be due and payable no later than November 1, 2000) and, concurrently with such payment, the Company shall deliver to the Holder an officer's certificate, signed by the Chief Financial Officer of the Company, which shows in reasonable detail the calculation of such Excess Cash.
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Excess Cash Prepayments. If, at the end of any Excess Cash Test Day, the Restricted Persons have any Excess Cash, the Borrower shall prepay the principal of the Loans in an amount equal to the lesser of the unpaid principal balance of the Loans and the amount of such Excess Cash within five (5) Business Days after such Excess Cash Test Day (provided that no such prepayment need be made under this subsection if the amount thereof would be less than $100,000 as of the day such prepayment would be required to be made). Each prepayment under this subsection shall be accompanied, on the date of such prepayment, by a notice from the Borrower to the Administrative Agent specifying (i) the amount of such prepayment, (ii) the specific Borrowings that are being prepaid by such prepayment, including the SOFR Loans, if any, that are being prepaid by such prepayment, and (iii) the date of such prepayment, which notice may be delivered electronically. Each prepayment under this subsection shall be applied to specific Borrowings as specified by the Borrower and shall be applied ratably to the Loans included in such prepaid Borrowings; provided that if the Borrower fails to so specify such Borrowings, then the Administrative Agent shall first prepay any outstanding Base Rate Loans and then to any SOFR Loans specified by the Administrative Agent in its discretion.
Sample 1
Excess Cash Prepayments. Without duplication of any other mandatory payment required under this Agreement, on each Excess Cash Payment Date listed in the table below, the Company shall pay one hundred percent (100%) of its Excess Cash measured as of the Excess Cash Determination Date listed opposite thereto (which shall be based on the balances of cash and Cash Equivalents as of the close of business on the Friday immediately preceding such Excess Cash Determination Date) to the Noteholders in respect of the Notes and to the Bank Lender Agent in respect of the Bank Obligations pursuant to paragraph 4H. Such payments received with respect to the Notes shall be applied in the manner set forth in paragraph 4E. Excess Cash Determination Date Excess Cash Payment Date February 24, 2010 March 3, 2010 March 31, 2010 April 7, 2010 April 28, 2010 May 5, 2010 May 26, 2010 June 2, 2010 June 30, 2010 July 7, 2010 July 28, 2010 August 4, 2010 August 25, 2010 September 1, 2010 September 29, 2010 October 6, 2010 October 27, 2010 November 3, 2010 November 24, 2010 December 1, 2010
Sample 1
Excess Cash Prepayments. If, at the end of any Excess Cash Test Day, the Restricted Persons have any Excess Cash, Borrower shall prepay the principal of the Loans in an amount equal to the lesser of the unpaid principal balance of the Loans and the amount of such Excess Cash within five (5) Business Days after such Excess Cash Test Day (provided that no such prepayment need be made under this subsection if the amount thereof would be less than $100,000 as of the day such prepayment would be required to be made). Each prepayment under this subsection shall be accompanied, on the date of such prepayment, by a notice from Borrower to Administrative Agent specifying (i) the amount of such prepayment, (ii) the specific Borrowings that are being prepaid by such prepayment, including the LIBOR Loans, if any, that are being prepaid by such prepayment, and (iii) the date of such prepayment, which notice may
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Related to Excess Cash Prepayments

  • Payments Prepayments (a) Payment, when paid, shall be applied first to the payment of all interest accrued and unpaid on this Note and then to payment on account of the principal hereof.

  • Cumulative Prepayments Except as otherwise expressly provided in this Section 2.05, payments with respect to any subsection of this Section 2.05 are in addition to payments made or required to be made under any other subsection of this Section 2.05.

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.03 and refinancings and refundings of such Indebtedness in compliance with Section 7.03(b).

  • Required Prepayments On August 1, 2002, and on each August 1 thereafter to and including August 1, 2010, the Company will prepay $5,000,000 principal amount (or such lesser principal amount as shall then be outstanding) of the Notes at par and without payment of the Make-Whole Amount or any premium, provided that upon any partial prepayment of the Notes pursuant to Sections 8.2 or 10.2 or purchase of the Notes permitted by Section 8.5, the principal amount of each required prepayment of the Notes becoming due under this Section 8.1 on and after the date of such prepayment or purchase shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such prepayment or purchase.

  • Optional Prepayments with Make-Whole Amount (a) The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, any Series of the Notes, in an amount not less than 10% of the aggregate principal amount of such Series of the Notes then outstanding (but if in the case of a partial prepayment, then against each tranche within such Series of Notes in proportion to the aggregate principal amount outstanding of each tranche of such Series), at 100% of the principal amount so prepaid, together with interest accrued thereon to the date of such prepayment, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of the Series of Notes to be prepaid written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount of the Series of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of the Series of Notes to be prepaid a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

  • Voluntary Prepayments of Borrowings 25 Section 3.08 Payments, etc................................................................................26 Section 3.09 Interest Rate Not Ascertainable, etc.........................................................28 Section 3.10 Illegally....................................................................................28 Section 3.11

  • Payment Prepayment All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

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