Mandatory Loan Prepayments Sample Clauses

Mandatory Loan Prepayments. (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within one Business Day after the occurrence of a Debt Incurrence Prepayment Event and within five Business Days after the occurrence of any other Prepayment Event, prepay, in accordance with paragraph (c) below, the principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, at the option of the Borrower, the Net Cash Proceeds from any transaction permitted by Section 10.4(e) (including pursuant to any securitization) may be applied to repay Revolving Credit Loans, which repayment shall automatically result in the reduction of the Revolving Credit Commitment of each Lender by an amount equal to the amount of the Revolving Credit Loans prepaid to such Lender.
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Mandatory Loan Prepayments. Except during a Default Period, on any Special Senior Debt Prepayment Date on which all or a portion of the Loans are required to be prepaid pursuant to Section 7.3 of the Project Loan Agreement or all or a portion of the Bonds are required to be prepaid pursuant to the Bond Indenture pursuant to which such Bonds were issued, the Security Agent shall transfer from the Prepayment Subaccount of the Special Payment Account the following amounts in the following order of priority: first, ratably, (i) to the Administrative Agent, the aggregate amount of principal of and interest on the Bank Loans payable to the Banks pursuant to the relevant paragraph of Section 7.3 of the Project Loan Agreement, (ii) to each holder of an Institutional Note, the aggregate amount of principal of and interest on such Institutional Note payable pursuant to the relevant paragraph of Section 7.3 of the Project Loan Agreement, (iii) to each Bond Trustee, the aggregate amount of principal of and interest, if any, on the Bonds issued pursuant to the Bond Indenture to which such Bond Trustee is a party which is payable pursuant to such Bond Indenture on such Special Senior Debt Prepayment Date and which was not paid through a drawing on a Bond Letter of Credit, (iv) to the Issuing Bank, the aggregate amount of principal of and interest, if any, on any Bonds prepaid on such Special Senior Debt Prepayment Date through a drawing on a Bond Letter of Credit (but only to the extent not paid to the Issuing Bank on such date pursuant to Section 5.7(d) in satisfaction of the related Bond Reimbursement Obligations) and (v) to each Secured Counterparty, an amount equal to the Swap Termination Obligations (other than those in respect of the Swap Obligations specified in clause (b) of the definition thereof), if any, payable to such Secured Counterparty under each Interest Rate Hedging Agreement to which such Secured Counterparty is a party; and second, ratably, (i) to the Administrative Agent, all fees, funding indemnities and other amounts payable to the Administrative Agent and the Banks pursuant to the relevant paragraph of Section 7.3 of the Project Loan Agreement in connection with such prepayment, (ii) to each Institution, all fees, Make-Whole Premiums, Modified Make-Whole Premiums and other amounts payable to such Institution pursuant to the relevant paragraph of Section 7.3 of the Project Loan Agreement in connection with such prepayment, (iii) to each Bond Trustee, any fees or other amount...
Sample 1
Mandatory Loan Prepayments. (i) In the event of the termination of all the Commitments, the Borrower shall, on the date of such termination, repay or prepay all its outstanding Loans and other Obligations, and comply with Sections 2.10(h) and (i).
Sample 1
Mandatory Loan Prepayments. (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within one Business Day after the occurrence of a Debt Incurrence Prepayment Event and within five Business Days after the occurrence of any other Prepayment Event, prepay, in accordance with paragraph (c) below, the principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, at the option of the Borrower, the Net Cash Proceeds from any transaction permitted by Section 10.4(e) (including pursuant to any securitization) may be applied to repay Revolving Credit Loans, which repayment shall automatically result in the reduction of the Revolving Credit Commitment of each Lender by an amount equal to the amount of the Revolving Credit Loans prepaid to such Lender. (ii) For each fiscal year (commencing with the fiscal year ending December 31, 2013), not later than five days after the date on which the financial statements of the Borrower referred to in Section 9.1(a) for such fiscal year are required to be delivered to the Lenders, the Borrower shall prepay, in accordance with paragraph (c) below, the principal amount of the Loans in an amount equal to (x) 75% of Excess Cash Flow for such fiscal year (provided that such percentage shall be reduced to (I) 50% of Excess Cash Flow for such fiscal year if the Senior Secured Leverage Ratio as of the end of such fiscal year is less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00; (II) 25% if the Senior Secured Leverage Ratio as of the end of such fiscal year is less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00; and (III) 0% if the Senior Secured Leverage Ratio as of the end of such fiscal year is less than 2.00 to 1.00), minus (y) the principal amount of Term Loans voluntarily prepaid pursuant to Section 5.1 during such fiscal year and Revolving Credit Loans voluntarily prepaid pursuant to Section 5.1 to the extent accompanied by an equivalent permanent reduction of the Total Revolving Credit Commitments in an equal amount pursuant to Section 4.2, in each case, except to the extent financed with the proceeds of Indebtedness of the Borrower or its Restricted Subsidiaries or the exercise of the Cure Right; provided that the above clause (y) shall not include the Third Amendment Prepayment or any prepayment with Credit Agreement Refinancing Indebtedness or pursuant to Section 2.19.
Sample 1
Mandatory Loan Prepayments. If a Change of Control occurs, the Borrower shall prepay the principal unpaid balance of the Loan in full on the date that said Change of Control is effective, provided that payment shall include (i) the interest accrued on said principal amount on the date of the relevant prepayment and (ii) any breakage costs in accordance with Section 2.8, clause (a), only if that said payment is made on a date other than an Interest Payment Date.
Sample 1

Related to Mandatory Loan Prepayments

  • Mandatory Loan Repayments If at any time the aggregate principal amount of the outstanding Advances shall exceed the applicable Borrowing Base, Borrower, immediately upon written or oral notice from Lender, shall pay to Lender an amount equal to the difference between the outstanding principal balance of the Advances and the Borrowing Base. On the Expiration Date, Borrower shall pay to Lender in full the aggregate unpaid principal amount of all Advances then outstanding and all accrued unpaid interest, together with all other applicable fees, costs and charges, if any, not yet paid.

  • Term Loan Prepayments (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within three Business Days after receipt of the Net Cash Proceeds of a Debt Incurrence Prepayment Event (other than one covered by clause (iii) below) and within ten Business Days after the occurrence of any other Prepayment Event (or, in the case of Deferred Net Cash Proceeds, within ten Business Days after the Deferred Net Cash Proceeds Payment Date), prepay, in accordance with clause (c) below, Term Loans with an equivalent principal amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, with respect to the Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback, in each case solely to the extent with respect to any Collateral, the Borrower may use a portion of such Net Cash Proceeds to prepay or repurchase Permitted Other Indebtedness (and with such prepaid or repurchased Permitted Other Indebtedness permanently extinguished) with a Lien on the Collateral ranking equal with the Liens securing the Obligations to the extent any applicable Permitted Other Indebtedness Document requires the issuer of such Permitted Other Indebtedness to prepay or make an offer to purchase such Permitted Other Indebtedness with the proceeds of such Prepayment Event, in each case in an amount not to exceed the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator of which is the outstanding principal amount of the Permitted Other Indebtedness with a Lien on the Collateral ranking equal with the Liens securing the Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and the denominator of which is the sum of the outstanding principal amount of such Permitted Other Indebtedness and the outstanding principal amount of Term Loans.

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

  • Mandatory Prepayment of Loans (a) Subject to Section 2.06(c), on the date of receipt by the Borrower or any Restricted Subsidiary (or affiliate thereof) of any Net Cash Proceeds, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds (together with any amounts due pursuant to Section 2.07 or Section 2.09); provided that the Borrower shall have no obligation to prepay the Loans (i) to the extent that such Net Cash Proceeds are attributable to a Disposition permitted by clauses (a), (c), (e), (f), (g), (h) and (j) of Section 7.04, (ii) to the extent that such Net Cash Proceeds for any Disposition are not in excess of $1,000,000 individually or $10,000,000 in the aggregate for all such Dispositions or (iii) with respect to any Casualty Event or any Disposition permitted pursuant to clause (k) (but only with respect to Dispositions of Core Assets that were acquired by the Borrower or any Restricted Subsidiary following the Availability Date (it being understood that any Net Cash Proceeds received from other Dispositions pursuant to clause (k) shall not be able to be reinvested pursuant to this clause (iii)) and clause (l) of Section 7.04, if, within 365 days after receipt of such Net Cash Proceeds, the Borrower uses such Net Cash Proceeds to purchase, or otherwise reinvests such Net Cash Proceeds in, Oil and Gas Interests useful in the business of the Credit Parties (in each case, as certified by the Borrower in a certificate of a Responsible Officer delivered to the Administrative Agent and the Lead Lender); provided further that, if all or any portion of such Net Cash Proceeds are not so reinvested within the time period specified (or such earlier date, if any, as the applicable Credit Party determines not to reinvest such Net Cash Proceeds as set forth above), such remaining portion shall be applied on the last date of such period (or such earlier date, as the case may be) as provided in this Section 2.06(a) without regard to this proviso.

  • Prepayment of Loans (a) 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 paragraph (b) of this Section.

  • Reduction of Commitment Prepayment of Loans Section 2.05 of the Financing Agreement is hereby amended as follows:

  • Prepayments of Loans Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Euro-Dollar Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Lenders included in such Borrowing.

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