Mandatory Prepayment of Revolving Loans, Swing Line Loans and Standby Letters of Credit Sample Clauses

Mandatory Prepayment of Revolving Loans, Swing Line Loans and Standby Letters of Credit. If at any time the Total Outstanding Amount shall be greater than the Maximum Available Amount, the Borrower shall, without notice from the Lenders, prepay that portion of the Revolving Loans, Swing Line Loans and/or the Standby Letters of Credit, as the case may be, in an amount equal to such excess except that all prepayments made pursuant to this sentence shall be applied first to reduce the Swing Line Loans, second to reduce the Revolving Loans and last to cash collateralize the outstanding Standby Letters of Credit. In addition, the Borrower shall, without notice from the Lenders, prepay (in the same order of priority as specified in the immediately preceding sentence) any outstanding Revolving Loan, Swing Loan and/or Letter of Credit in an amount equal to the net cash proceeds to (or for the account of) the Borrower or any Subsidiary thereof resulting from (i) the issuance or sale by the Borrower or such Subsidiary of any of their capital stock (or equivalent) to any Person, (ii) the issuance or sale by the Borrower or such Subsidiary of any debt security or other instrument of Indebtedness to any Person, (iii) the sale of any assets of the Borrower or such Subsidiary other than assets sold in the ordinary course of business as contemplated by clause (i) of Section 6.2(i) hereof, (iv) the disposition of redundant, worn out or obsolete equipment, if required by clause (i)(B) of Section 6.2(i) hereof and (v) any proceeds of insurance under policies of insurance or indemnity insuring or covering the properties, liabilities, risks or losses (whether or not contingent) of the Borrower or such Subsidiary.
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Mandatory Prepayment of Revolving Loans, Swing Line Loans and Standby Letters of Credit. If at any time the Total Outstanding Amount shall be greater than the Maximum Available Amount, the Borrower shall, without notice from the Lender, prepay that portion of the Revolving Loans, Swing Line Loans and/or the Standby Letters of Credit, as the case may be, in an amount equal to such excess.
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Related to Mandatory Prepayment of Revolving Loans, Swing Line Loans and Standby Letters of Credit

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • New Swing Line Loans/Letters of Credit Notwithstanding anything in this Agreement to the contrary, so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • New Swing Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) no LC Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

  • Repayment of Outstanding Loans; Borrowing of New Loans On the on the effective date of such increase, the Borrower shall repay all Loans then outstanding, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity]; provided that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

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