Mandatory Prepayment Event. If at any time any single person, or group of persons acting in concert (as defined in the City Code on Takeovers and Mergers), acquires control (as defined in Section 416 of the Income and Corporation Taxes Act 1988) of the Parent then the Parent will notify the Agent within thirty days and the Agent will, if instructed to do so by the Majority Banks, by notice to the Parent given no earlier than ninety days after the date that notice is given to the Agent:
(a) call for prepayment of all the Advances on such date as it may specify in such notice whereupon all the Advances shall become due and payable on such date together with accrued interest and any other sums then owed by the Obligors under the Finance Documents;
(b) call for each Borrower to perform its obligations under Clause 8.3 (Payment of Bills) in respect of all outstanding Bills on such date as it may specify in such notice as if such date were the Maturity Date of each of those Bills; and
(c) declare that the Total Commitments shall be cancelled, whereupon the Total Commitments shall be cancelled and the Commitment of each Bank shall be cancelled and reduced to zero. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
Mandatory Prepayment Event. Upon the occurrence of any Mandatory Payment Event, the Issuer will, subject to the provisions of Clause 19, immediately prepay to the Noteholders all the outstanding principal and all interest and all other amounts payable under the Notes.
Mandatory Prepayment Event. (i) In addition to any prepayment required pursuant to subparts (a) through (d) above, if the Borrower or any Subsidiary shall effect a Mandatory Prepayment Event (which Mandatory Prepayment Event shall only be permitted in accordance with the terms of this Agreement), then, unless otherwise agreed to in writing by the Required Supermajority Lenders, the Prepayment Proceeds of such Mandatory Prepayment Event shall be paid, on the date of such Mandatory Prepayment Event, by the Borrower (or the applicable Subsidiary) to the Administrative Agent to be applied, first, on a pro rata basis to the outstanding principal balance of the Term Loans (to be applied on a pro rata basis to the Scheduled Repayments thereof in the inverse order of maturity), and, second, to the outstanding principal balance of the Revolving Loans (or, if there shall be no Revolving Loans outstanding or if the outstanding Revolving Loans shall have been paid in full, then, first, to the outstanding principal balance of the Swing Line Revolving Loans, second, to the outstanding principal balance of the Alternate Currency Outstandings, and, third, to the Stated Amount of the Letter of Credit Outstandings to be held and applied by the Administrative Agent as security for the reimbursement obligations in respect thereof), with the Total General Revolving Commitments being permanently reduced by the amount of such Prepayment Proceeds, whether or not there shall be any Revolving Credit Exposure.
(ii) As used in this section 5.3(f), "Mandatory Prepayment Event" shall mean the receipt by the Borrower or any Subsidiary of (i) any funds, in excess of the aggregate amount of $250,000 for any single casualty event from (A) insurance losses, returns or unearned premiums under any policy of insurance, (B) any condemnation, eminent domain or other proceeding relating to the Real Property, or (C) any litigation, settlement or other legal proceeding; (ii) the proceeds of a public or private offering of equity or debt securities (other than pursuant to section 9.4(c) (i) or (ii)) by the Borrower or any
Mandatory Prepayment Event. It shall constitute a Mandatory Prepayment Event with respect to Seller if (after giving effect to all applicable notice requirements and grace periods) an Indenture Event of Default occurs. Accelerated Termination Event: Buyer may, at any time following the occurrence of a Regulatory Event, terminate the Transaction under this Confirmation by notifying Seller of an early Repurchase Date for the Transaction, which Repurchase Date shall not be earlier (unless so agreed by Buyer and Seller) than 10 calendar days after the date of such notice (or such lesser period as may be necessary for Buyer to comply with its obligations under applicable laws and regulations arising as a result of such Regulatory Event). Upon knowledge of any Regulatory Event that may occur, Buyer and Seller shall negotiate in good faith to enter into one or more financing transactions with substantially the same terms as the effected Transaction.
Mandatory Prepayment Event. Concurrently with the occurrence of any Change in Control of Borrower, Borrower shall prepay in full, without penalty or premium, all outstanding Obligations and shall post cash collateral, upon terms reasonably acceptable to Bank, in the face amount of any undrawn Letters of Credit.
Mandatory Prepayment Event. It shall constitute a Mandatory Prepayment Event with respect to Seller if (after giving effect to all applicable notice requirements and grace periods) an "Event of Default" occurs with respect to the Issuer under (and as defined in) the Indenture and the stated maturity of the Class A Notes is accelerated under Section 5.2 of the Indenture. Accelerated Termination Event: Buyer may, at any time following the occurrence of a Regulatory Event, terminate the Transaction under this Confirmation by notifying Seller of an early Repurchase Date for such Transaction, which Repurchase Date shall not be earlier (unless so agreed by Buyer and Seller) than 15 calendar days after the date of such notice (or such lesser period as may be necessary for Buyer to comply with its obligations under applicable laws and regulations arising as a result of such Regulatory Event).
Mandatory Prepayment Event. In the event of (x) any Bankruptcy of Borrower, (y) any Change of Control (excluding, for the avoidance of doubt, resulting from any Permitted Additional Equity Raise), or (z) any sale of Capital Stock of Pledgor (other than any sale of Capital Stock of Pledgor that is a Permitted Additional Equity Raise, any Permitted Other Equity Raise or any sale of common Capital Stock of Pledgor in connection with any Capital Lease Obligations in connection with any one of the Specified Project Components) (each such event, a “Mandatory Prepayment Event”), then Borrower shall prepay all Obligations then outstanding hereunder within three (3) Business Days of such Mandatory Prepayment Event.
Mandatory Prepayment Event. There shall be a Mandatory Prepayment Event if it is or shall become impossible or unlawful or contrary to any law or regulation for the Borrower to fulfil any of its undertakings or obligations contained in the Finance Documents or for the Lender to exercise any of its rights, powers and/or remedies under any of the Finance Documents or if any of the obligations of the Borrower under the Finance Documents is not, or ceases to be, legal, valid and binding or shall become unenforceable for any reason. Upon the occurrence of a Mandatory Prepayment Event:
(a) the Commitment shall be cancelled; and
(b) the Borrower shall prepay all Loans made to it without prepayment fee, premium or penalty within 14 days of notification by the Lender or on such earlier or later date as is necessary to comply with such law or regulation. Any such prepayment must be accompanied by accrued interest on the Loans (or such part thereof) prepaid and by any other sum then due to the Lender under Clause 14.2 (Miscellaneous Indemnities) or any other provision of this Agreement in relation to the amount prepaid. Any amount prepaid under this Clause 7.3 will not be available for reborrowing by the Borrower.
Mandatory Prepayment Event. Concurrently with the occurrence of any Change in Control of Borrower, Borrowers shall prepay in full, without penalty or premium, all outstanding Obligations and shall post cash collateral, upon terms reasonably acceptable to SVB, in the face amount of any undrawn Letters of Credit.
Mandatory Prepayment Event. (a) In this Section 2.11 (Mandatory Prepayment Event), a “Borrower Change of Control” shall occur if (i) the Borrower Affiliates (other than the General Partner) collectively cease to own, directly or indirectly, 100% of the membership interests in the general partner of the Borrower and 100% of the limited partnership interests in the Borrower or (ii) the General Partner ceases to be the sole general partner of the Borrower.
