Mandatory Prepayment and Cancellation. 7.8.1 In the event that either or both of the conditions set out in clause 3.6 are not satisfied in accordance with such clause (i) the Borrowers shall within a period of 3 months (the "GRACE PERIOD") from the expiry of the six month or nine month period (as applicable) either ensure that the relevant outstanding conditions are satisfied or prepay or repay all outstanding Advances and procure the irrevocable discharge and return to the Working Capital Bank of any Bank Guarantees and (ii) on the expiry of the Grace Period, unless the relevant outstanding conditions have been satisfied, the Total Commitments shall be reduced to zero and pending such satisfaction (a) no further Bank Guarantees may be issued hereunder and (b) no Advances may be drawn hereunder under the Revolving Credit Facility or the Working Capital Facility (as the case may be) if following the making of any such Advance under such Facility the aggregate Dollar Amount of Advances would exceed the aggregate Dollar Amount of Advances outstanding under such Facility prior to the making of such Advance (after taking account of any Advance due under the relevant Facility to be made or repaid on the Utilisation Date of such Advance).
7.8.2 In the event that any person acquires or persons acting in concert acquire control of the Ultimate Shareholder, unless such person is a recognised and experienced international telecommunications operator the credit rating of whose long term debt is rated at least "A3" by Moodx'x and "A-" by Standard and Poor's, the Borrowers shall immediately prepay or repay all outstanding Advances and procure the irrevocable discharge and return to the Working Capital Bank of any Bank Guarantee and the Total Commitments shall be reduced to zero. For the purposes of this clause 7.8.2 "acting in concert" shall have the meaning given to such expression in the City Code on Takeovers and Mergers and "control" means (i) the beneficial ownership, directly or indirectly, of shares of corporate stock or other equity participations with
Mandatory Prepayment and Cancellation. (A) For the purpose of this Clause 7.4:
Mandatory Prepayment and Cancellation. Total Loss or sale
Mandatory Prepayment and Cancellation. (a) Upon the occurrence of:
(i) a Change of Control; or
(ii) other than the Merger, the sale of all or substantially all of the assets of the Group or the Target Group whether in a single transaction or a series of related transactions (for the avoidance of doubt, (i) the disposal of Posterscope (Hong Kong) Ltd. and (ii) the disposal and/or restructuring of Nanning Jetlong and its subsidiaries shall not require any mandatory prepayment pursuant to this Clause 7.8), the Borrower shall promptly upon becoming aware of its occurrence notify the Lender and the Lender may, by three (3) Business Days’ (or such other period as agreed by the Lender and the Borrower) prior written notice to the Borrower, cancel the Facility whereupon the Facility shall immediately be cancelled and/or declare all or part of the Loan, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents to be immediately due and payable, whereupon they shall become immediately due and payable.
Mandatory Prepayment and Cancellation. HIGH YIELD/SIT
(a) The Facility will be automatically terminated and the Total Commitments then not cancelled shall be automatically reduced and cancelled at the close of business on the Special Mandatory Cancellation Date.
(b) If the relevant member of the Group does not comply with its obligations under the drag along and/or tag along rights granted to SIT in respect of shares in Cegetel and/or the Acquired Shares, then the Total Commitments shall be cancelled in full forthwith and the Company shall forthwith repay each Loan made to it in full to the Facility Agent for the Lenders.
(c) The provisions of paragraphs (a) and (b), above, shall apply and remain in force at all times throughout the term of this Agreement (notwithstanding, for the avoidance of doubt, the occurrence of a Release Condition Date).
Mandatory Prepayment and Cancellation repayment of Parent Company Loan
Mandatory Prepayment and Cancellation. The Borrower shall prepay Utilisations and/or cancel Available Commitments under the Facilities on the dates and in accordance, and otherwise comply, with the provisions of Schedule 4 (Mandatory Prepayment).
Mandatory Prepayment and Cancellation. SALE OR TOTAL LOSS........12 6.4
Mandatory Prepayment and Cancellation. Sale or Total Loss
(a) In the event of the sale or Total Loss of a Vessel, the Borrower shall prepay the Loan with a sum equal to the aggregate of the Allocations set opposite that Vessel in Schedule 11 that remains to be repaid just prior to the sale or the occurrence leading to the Total Loss and any portion of the Allocation under Tranche B which has not been drawn shall be cancelled.
(b) Prepayment and cancellation shall take place upon the delivery of such Vessel in the event of a sale and the receipt of the insurance proceeds in the event of a Total Loss. Upon receipt of the prepaid amount according to this Clause, the Administrative Agent shall on behalf of the Lenders release the Owner of the Vessel involved from its guarantee responsibility, the Mortgage relative to the Vessel involved and the other Security Documents under this Agreement related to the Vessel and the relevant Owner in the form as set out in Schedule 10.
Mandatory Prepayment and Cancellation. (a) The Company shall notify the Facility Agent in writing promptly upon receipt by a member of the Group of any Equity or Debt Proceeds or any Disposal Proceeds, giving details of the recipient and the amount of the relevant Equity or Debt Proceeds or Disposal Proceeds.
(b) If a member of the Group receives any Equity or Debt Proceeds, where such Equity or Debt Proceeds (when aggregated with any other Equity or Debt Proceeds received by any member of the Group) exceed EUR 50,000,000 or its equivalent in any other currencies (any such excess, the "Relevant Equity or Debt Proceeds") and the Senior Leverage Ratio was greater than 3.5:1.0 in respect of the most recent Relevant Period in relation to which a Compliance Certificate has been delivered by the Company to the Facility Agent, then (i) on the date on which such Equity or Debt Proceeds are received (or, in relation to any Equity or Debt Proceeds where convertible bonds are issued, on the date which is the later of (A) the settlement date in relation to such convertible bonds and (B) the date on which the Equity or Debt Proceeds in relation to such convertible bonds are received) the Facility shall be reduced and cancelled by an amount equal to the Senior Leverage Ratio Adjustment Amount and (ii) (subject to the following provisions of this Clause 8.3) within 10 Business Days of receipt the Borrowers shall, to the extent necessary, prepay Loans such that (after such prepayment) the aggregate amount of all outstanding Loans does not exceed the Facility (after its reduction pursuant to (i) above).
