Common use of Mandatory Borrowing Base Prepayments Clause in Contracts

Mandatory Borrowing Base Prepayments. If at any time the aggregate Exposure of all Lenders is in excess of the Borrowing Base, the Borrower shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess to be applied (i) first, in satisfaction of all Reimbursement Obligations, if any, outstanding at such time, (ii) second, as a prepayment of the Revolving Loans, and (iii) third, as Cover for any remaining Letter of Credit Exposure in an amount of such remaining excess.

Mandatory Borrowing Base Prepayments. If at any time the aggregate Exposure of all Lenders is in excess of the Borrowing Base, the Borrower shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess to be applied (i) first, in satisfaction of all Reimbursement Obligations, if any, outstanding at such time, (ii) second, as a prepayment of the Revolving Loans, and (iii) third, as Cover for any remaining Letter of Credit Exposure, F/X Exposure and Bankers Acceptances in an amount of such remaining excess.

Mandatory Borrowing Base Prepayments. If at any time the aggregate Exposure of all Lenders is in excess of (i) the Borrowing BaseBase or (ii) the total Commitment, the Borrower shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess to be applied (i) first, in satisfaction of all Reimbursement Obligations, if any, outstanding at such time, (ii) second, as a prepayment of the Revolving Loans, and (iii) third, as Cover for any remaining Letter of Credit Exposure in an amount of such remaining excess.

Mandatory Borrowing Base Prepayments. If at any time the aggregate Exposure of all Lenders is in excess of the Borrowing Base, the Borrower shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess to be applied (i) first, in satisfaction of all Reimbursement Obligations, if any, outstanding at such time, (ii) second, as a prepayment of the Revolving Loans, and (iii) third, as Cover for any remaining Letter of Credit Exposure and F/X Exposure in an amount of such remaining excess.

Mandatory Borrowing Base Prepayments. If at any time the aggregate Exposure of all Lenders is in excess of the Borrowing Base, the Borrower shall immediately pay to the Agent, for the account of the Lenders, the amount of such excess to be applied (i) first, in satisfaction of all Reimbursement Obligations, if any, outstanding at such time, (ii) second, as a prepayment of the Revolving Loans, and (iii) third, as Cover for any remaining Letter of Credit Exposure and Bankers Acceptances in an amount of such remaining excess.