Mandatory Prepayment of Loan. The Loan shall be prepaid in whole or in part to the extent necessary to effect the mandatory redemption of the Bonds at the times and in the amounts specified in Sections 4.01, 4.03, 4.04, and 4.05 of the Indenture.
Mandatory Prepayment of Loan. (a) The Borrower shall be obligated, and agrees, to prepay a portion of the amount payable under Section 4.01 hereof to the extent and in the manner set forth in Section 301(a) of the Trust Agreement.
Mandatory Prepayment of Loan. (a) The Borrower shall be obligated, and agrees, to prepay a portion of the amount payable under Section 4.01 to the extent and in the manner set forth in Section 301 (a) of the Trust Agreement.
Mandatory Prepayment of Loan. If the Borrower receives a grant from any source for any portion of the Project Costs for which a portion of the Loan Amount has been disbursed and is outstanding under this Loan Agreement, such portion of the Loan Amount shall become immediately due and payable.
Mandatory Prepayment of Loan. The Borrower shall be required to make mandatory prepayments pursuant to the following terms: On each Monday after the date hereof, Borrower shall wire to Lender 40% of all revenue collected during the prior 7 days.
Mandatory Prepayment of Loan. Notwithstanding the Maturity Date, the Borrower hereby agrees to direct Home Depot to make payment of all amounts due under the Purchase Orders directly to the account of the Lender set forth on the signature page hereof.
Mandatory Prepayment of Loan. (a) Upon discovery by the --------- ---------------------------- Borrower, the Guarantor, the Custodian or the Lender of any breach of any of the representations and warranties listed in Section 4 preceding, the party discovering such breach shall promptly give notice of such discovery to the others. The Lender has the right to require, in its unreviewable discretion, the Borrower to repay the Loan in part with respect to (i) any Commercial Loan which breaches one or more of the representations and warranties listed in Section 4(b) preceding or (ii) any Commercial Loan which the Lender reasonably believes to be unacceptable for inclusion in a Securitization; provided, however, that the Borrower may, in lieu of repaying the Loan in part, substitute one or more other Commercial Loans, in replacement for any Commercial Loan described in (i) or (ii) above.
Mandatory Prepayment of Loan. The Borrower shall make mandatory prepayment of the Loan, plus the Make Whole Amount (if any) but without Prepayment Fee as follows: (i) in an amount equal to the expropriation proceeds and/or insurance proceeds received by Borrower from the Insurance Policies to the extent such amounts are not applied to restoration or repair of the Project or Expansion Project; (ii) in an amount equal to termination payments received by Borrower under the Water Sale Agreement; and (iii) in an amount equal to the net proceeds of any asset sales if such net proceeds exceed in the aggregate $100,000 per year, provided that no mandatory prepayment shall be required if such amounts are reinvested in the Project or Expansion Project. Mandatory prepayments are to be applied pro-rata against the then remaining monthly payments for Facility A and Facility B as set out in section 2.5, in direct order of maturity.
Mandatory Prepayment of Loan. The Borrower shall be required to make mandatory prepayments pursuant to the following terms: Within the first 4 business days of every calendar month, Borrower will submit its current Eligible Accounts Receivable balance amount to Lender. If such Eligible Accounts Receivable balance amount is less than 80% of the loan amount, then Borrower will immediately make a payment to Lender so that the loan amount is no greater than 80% of the then current Eligible Accounts Receivable balance. Borrower will also be required to pay the interest that has accrued on the loan for the previous month within the first 4 business days of every subsequent calendar month.
Mandatory Prepayment of Loan. 16 Section 6. Release of Mortgage Files following Payment of Loan. . . 17 Section 7. [Reserved] . . . . . . . . . . . . . . . . . . . . . . . 18
