Mandatory Prepayment; Commitment Termination; Cash Collateral. The outstanding Obligations shall be subject to prepayment as follows:
Mandatory Prepayment; Commitment Termination; Cash Collateral. The outstanding Obligations shall be subject to mandatory prepayment as follows:
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time from and after the entry of the Final Order the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings exceeds the lesser of (x) the Total Commitment and (y) the sum of the Borrowing Base PLUS cash deposited in the Letter of Credit Account pursuant to this Section, the Borrower will within three Business days (i) prepay the Loans in an amount necessary to cause the aggregate principal amount of the outstanding Loans PLUS the aggregate Letter of Credit Outstandings in excess of the amount of cash so held in the Letter of Credit Account to be equal to or less than the Total Commitment and/or the Borrowing Base, as the case may be, and (ii) if, after giving effect to the prepayment in full of the Loans, the aggregate Letter of Credit Outstandings in excess of the amount of cash so held in the Letter of Credit Account exceeds the Total Commitment and/or the Borrowing Base, as the case may be, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash so held in the Letter of Credit Account so exceeds the Total Commitment or Borrowing Base, as the case may be;
Mandatory Prepayment; Commitment Termination; Cash Collateral. (1) If at any time the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings exceeds the lesser of (x) the Total Commitment and (y) the Borrowing Base, the Borrower will within three Business Days (i) prepay the Loans in an amount necessary to cause the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings to be equal to or less than the Total Commitment and/or the Borrowing Base, as the case may be, and (ii) if, after giving effect to the prepayment in full of the Loans, the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account exceeds the Total Commitment and/or the Borrowing Base, as the case may be, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account so exceeds the Total Commitment or Borrowing Base, as the case may be.
Mandatory Prepayment; Commitment Termination; Cash Collateral. The outstanding Obligations shall be subject to prepayment as follows: If at any time the Total Outstandings causes Availability to be less than zero, the Borrowers will, immediately upon notice from the Administrative Agent: (x) prepay the Revolving Credit Loans in an amount necessary to eliminate such deficiency; and (y) if, after giving effect to the prepayment in full of all outstanding Revolving Credit Loans such deficiency has not been eliminated, deposit cash into the Cash Collateral Account in an amount equal to 103% of the Letters of Credit Outstanding. DB1/ 98023701.7 The Revolving Credit Loans shall be repaid daily in accordance with (and to the extent required under) the provisions of SECTION 2.18,2.18, to the extent then applicable. Any Net Proceeds received from a Prepayment Event, whether or not a Cash Dominion Event then exists, shall be paid over to the Administrative Agent on receipt by the Loan Parties and shall be utilized to prepay the Obligations in the order of priority set forth in SECTIONSection 7.03. The Agents shall not be obligated to release their Liens on any Collateral included in such Prepayment Event until such Net Proceeds have been so received (to the extent required in this clause (c)). The application of such Net Proceeds to the Obligations shall not reduce the Total Commitments. If all Obligations then due are paid, any excess Net Proceeds shall be remitted to the operating account of the Borrowers maintained with the Administrative Agent. Except as set forth in SECTIONSection 2.17(c) and except during the continuance of a Cash Dominion Event, any Net Proceeds, Cash Receipts and other payments received by the Administrative Agent shall be applied as the Lead Borrower shall direct the Administrative Agent in writing. The Borrowers shall prepay the Obligations as required pursuant to SECTION 2.15 (b). Subject to the foregoing, outstanding Prime Rate Loans shall be prepaid before outstanding LIBOR Rate Loans are prepaid. No prepayment of LIBOR Rate Loans shall be permitted pursuant to this SECTION 2.17 other than on the last day of an Interest Period applicable thereto, unless the Borrowers reimburse the Lenders for all Breakage Costs associated therewith within seven (7) Business Days of receiving a written demand for such reimbursement which sets forth the calculation of such Breakage Costs in reasonable detail. In order to avoid such Breakage Costs, as long as no Specified Default has occurred and is continuing, at the...
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time the aggregate principal amount of the outstanding Loans plus the Letter of Credit Outstandings exceeds the lesser of (x) 95% of the Total Commitment and (y) on or after the first date as of which a Borrowing Base Certificate is required to be delivered to the Agent, 95% of the Borrowing Base, the Borrower will immediately (i) prepay the Loans in an amount necessary to cause the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings to be equal to or less than the 95% of Total Commitment and/or 95% of the Borrowing Base, as the case may be, and (ii) if, after giving effect to the prepayment in full of the Loans, the undrawn amount of outstanding Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account exceeds 95% of the Total Commitment and/or 95% of the Borrowing Base, as the case may be, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account so exceeds 95% of the Total Commitment or 95% of the Borrowing Base, as the case may be.
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time the aggregate principal amount of the outstanding Loans plus the Letter of Credit Outstandings exceeds the Budget Cap, the Borrower will within three Business Days (i) prepay the Loans in an amount necessary to cause the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings to be equal to or less than the Budget Cap, and (ii) if, after giving effect to the prepayment in full of the Loans, the undrawn amount of outstanding Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account exceeds the Budget Cap, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account so exceeds the Budget Cap.
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings exceeds the Total Commitment, the Borrower will within three Business Days (i) prepay the Loans in an amount necessary to cause the aggregate principal amount of the outstanding Loans plus the aggregate Letter of Credit Outstandings to be equal to or less than the Total Commitment, and (ii) if, after giving effect to the prepayment in full of the Loans, the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account exceeds the Total Commitment, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account so exceeds the Total Commitment.
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time the aggregate principal amount of the outstanding Tranche A Loans plus the Tranche A Letter of Credit Outstandings exceeds the lesser of (x) the Total Tranche A Commitment and (y) the Borrowing Base plus the Overadvance Amount (as in effect) minus the Tranche B Obligations, the Borrower will within three Business Days (i) prepay the Tranche A Loans in an amount necessary to cause the aggregate principal amount of the outstanding Tranche A Loans plus the aggregate Tranche A Letter of Credit Outstandings to be equal to or less than the Total Tranche A Commitment and/or the Borrowing Base plus the Overadvance Amount minus the Tranche B Obligations, as the case may be, and (ii) if, after giving effect to the prepayment in full of the Tranche A Loans, the undrawn amount of outstanding Tranche A Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account with respect to Tranche A Cash Collateralization exceeds the lesser of the Total Tranche A Commitment and the Borrowing Base plus the Overadvance Amount minus the Tranche B Obligations, as the case may be, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Tranche A Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account with respect to Tranche A Cash Collateralization so exceeds the lesser of the Total Tranche A Commitment and Borrowing Base plus the Overadvance Amount minus the Tranche B Obligations, as the case may be.
Mandatory Prepayment; Commitment Termination; Cash Collateral. (a) If at any time the amount of the Credit Extensions exceeds the lesser of (i) the then amount of the Revolving Credit Commitments and (ii) the then amount of the Borrowing Base, the Borrowers will, immediately upon notice from the Agent (x) prepay the Revolving Credit Loans in an amount necessary to eliminate such excess and (y) if, after giving effect to the prepayment in full of all outstanding Revolving Credit Loans such excess has not been eliminated, deposit cash into the Cash Collateral Account in an amount equal to 105% of the Letters of Credit Outstanding.
