Common use of Mandatory Prepayment of the Loan Clause in Contracts

Mandatory Prepayment of the Loan. Borrower will promptly pay to Administrative Agent, for the ratable benefit of the Lenders, 100% of all net proceeds from the sale of any Collateral (excluding sales of Hydrocarbons in the ordinary course of business and sale of Equipment authorized by the Security Agreement). The preceding sentence will not, however, be deemed to be a consent by Administrative Agent or any Lender to any such sale. All prepayments received by Administrative Agent under this Section 1.13 will be applied in accordance Section 1.9(a) and 1.10.

Mandatory Prepayment of the Loan. (a) Borrower will promptly pay to Administrative Agent, for the ratable benefit of the Lenderseach Lender, 100% of all net proceeds from the sale of any Collateral to which Proved Reserves are attributed (excluding sales of Hydrocarbons in the ordinary course of business and sale of Equipment authorized by the Security Agreement). The preceding sentence will not, however, be deemed to be a consent by Administrative Agent or any Lender to any such sale. All prepayments received by Administrative Agent under this Section 1.13 1.11 will be immediately applied in accordance as a prepayment of the Loan pursuant to Section 1.9(a) and 1.101.8(b).

Mandatory Prepayment of the Loan. (a) Borrower will promptly pay to Administrative Agent, for the ratable benefit of the Lenderseach Lender, 100% of all net proceeds from the sale of any Collateral (excluding sales of Hydrocarbons in the ordinary course of business and sale of Equipment authorized by the Security Agreement). The preceding sentence will not, however, be deemed to be a consent by Administrative Agent or any Lender to any such sale. All prepayments received by Administrative Agent under this Section 1.13 will be immediately applied in accordance as a prepayment of the Loan pursuant to Section 1.9(a) and 1.101.9(c).

Mandatory Prepayment of the Loan. (a) Borrower will promptly pay to Administrative Agent, for the ratable benefit of the Lenderseach Lender, 100% of all net proceeds from the sale of any Collateral to which Proved Reserves are attributed (excluding sales of Hydrocarbons in the ordinary course of business and sale of Equipment authorized by the Security Agreement). The preceding sentence will not, however, be deemed to be a consent by Administrative Agent or any Lender to any such sale. All prepayments received by Administrative Agent under this Section 1.13 1.12 will be immediately applied in accordance as a prepayment of the Loan pursuant to Section 1.9(a) and 1.101.9(b).