Mandatory Prepayments and Repayments. (a) If on any date the sum of the outstanding principal amount of Loans and Competitive Bid Loans (all the foregoing, collectively, the "Aggregate Loan Outstandings") exceeds the Total Commitment as then in effect, the Borrower shall prepay on such date the principal of Loans, in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Loans as set forth above, the remaining Aggregate Loan Outstandings exceed the Total Commitment, the Borrower shall repay on such date the principal of Competitive Bid Loans in an aggregate amount equal to such excess, PROVIDED that no Competitive Bid Loan shall be prepaid pursuant to this sentence unless the Bank that made same consents to such prepayment. In the absence of such consent, the provisions of Section 3.02(c) shall be applicable.
(b) With respect to each prepayment or repayment of Loans required by this Section 3.02, the Borrower may designate the Types of Loans which are to be prepaid and the specific Borrowing(s) pursuant to which made; PROVIDED, that (i) if any prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Loans made pursuant to such Borrowing to an amount less than $5,000,000, such Borrowing shall be immediately converted into Base Rate Loans; and (ii) each prepayment of any Loans made pursuant to a Borrowing shall be applied PRO RATA among such Loans. In the absence of a designation of Loans by the Borrower as described in this Section 3.02(b), the Agent shall, subject to the above, make such designation in its sole discretion with a view, but no obligation, to minimize breakage costs owing under Section 1.12.
(c) At any time that the Borrower is obligated to prepay any Competitive Bid Loan pursuant to Section 1.11(b) or 3.02
(a) on a date other than the scheduled maturity date thereof, such prepayment shall only be made if the respective Bank that made such Competitive Bid Loan has consented in writing (or by telephone confirmed in writing) to the Borrower to such prepayment within 48 hours after notice (in writing or by telephone confirmed in writing) by the Borrower to such Bank of such prepayment (it being understood that the Borrower will give such notice and that any failure to respond to such notice will constitute a rejection thereof); if such prepayment is not so consented to by the respective Bank then, in the case of a prepayment otherwise required pursuant to Section 3.02(a), the provisions of the immediately s...
Mandatory Prepayments and Repayments. 23 Section 4.02.02. Application...........................................................26
Mandatory Prepayments and Repayments. (a) If on any date the sum of (I) the aggregate outstanding principal amount of Revolving Loans and Swingline Loans and (II) the aggregate amount of Letter of Credit Outstandings exceeds the Total Revolving Credit Commitment as then in effect, the Borrower shall repay on such date that principal amount of Swingline Loans, and if no Swingline Loans are or remain outstanding, Revolving Loans, in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Revolving Credit Commitment as then in effect, the Borrower shall pay to the Agent at the Payment Office on such date an amount of cash or Cash Equivalents equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash or Cash Equivalents to be held as security for the obligations of the Borrower hereunder in a cash collateral account established by the Agent.
(i) The Borrower shall be required to repay the principal amount of A Term Loans on each date set forth below in the amount set forth opposite such date below (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02.02(b), a "Scheduled A Repayment"): SCHEDULED A REPAYMENT DATE AMOUNT the last Business Day in August, 1998 $2,500,000.00 the last Business Day in November, 1998 2,500,000.00 the last Business Day in February, 1999 2,500,000.00 the last Business Day in May, 1999 2,500,000.00 the last Business Day in August, 1999 2,500,000.00 the last Business Day in November, 1999 2,500,000.00 the last Business Day in February, 2000 3,750,000.00 the last Business Day in May, 2000 3,750,000.00 the last Business Day in August, 2000 3,750,000.00 the last Business Day in November, 2000 3,750,000.00 the last Business Day in February, 2001 5,000,000.00 the last Business Day in May, 2001 5,000,000.00 the last Business Day in August, 2001 5,000,000.00 the last Business Day in November, 2001 5,000,000.00 the last Business Day in February, 2002 6,250,000.00 the last Business Day in May, 2002 6,250,000.00 the last Business Day in August, 2002 6,250,000.00 the last Business Day in November, 2002 6,250,000.00 the last Business Day in February, 2003 6,250,000.00 the last Business Day in May, 2003 6,250,000.00 the last Business Day in August, 2003 6,250,000.00 A Term Loan Maturity Date (the last Business Day in November, 2003) 6,250,000....
Mandatory Prepayments and Repayments. (a) If on any date the sum of the aggregate outstanding Principal Amount of Revolving Loans, Swingline Loans and Competitive Bid Loans (all the foregoing, collectively, the “Aggregate Loan Outstandings”) exceeds the Total Commitment as then in effect, the Borrowers, jointly and severally, shall repay no later than the next following Business Day the Principal Amount of Swingline Loans (in the applicable Approved Swingline Currency), and if no Swingline Loans are or remain outstanding, the Principal Amount of Revolving Loans (but excluding DB Loans to the extent the respective DB Loan Maturity Date has not occurred), in each case, in an aggregate Principal Amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans as set forth above, the remaining Aggregate Loan Outstandings exceed the Total Commitment, the Borrowers, jointly and severally, shall repay on such date the principal of Competitive Bid Loans in an aggregate amount equal to such excess.
(b) If on any date the sum of the aggregate outstanding Principal Amount of all Swingline Loans exceeds the Maximum Swingline Amount, the Borrowers, jointly and severally, shall repay no later than the next following Business Day, the Principal Amount of Swingline Loans in an aggregate Principal Amount equal to such excess in the applicable Approved Swingline Currency.
(c) If on any date on which Dollar Equivalents are determined, pursuant to Section 11.07(c), the Dollar Equivalent of the aggregate outstanding Principal Amount of all Swingline Loans (i) denominated in Euros exceeds $300,000,000; (ii) denominated in Pounds Sterling exceeds $300,000,000; (iii) denominated in Hong Kong Dollars exceeds $100,000,000; (iv) denominated in Japanese Yen exceeds $100,000,000; (v) denominated in Swiss Francs exceeds $100,000,000; or (vi) denominated in Australian Dollars exceeds $100,000,000, in each such case, the Borrowers, jointly and severally, shall repay no later than the next following Business Day the Principal Amount of such Swingline Loans, in each case, in an amount equal to such excess in the applicable Approved Swingline Currency.
(d) If on any date on which Dollar Equivalents are determined, pursuant to Section 11.07(c), the sum of the Dollar Equivalents of the aggregate outstanding Principal Amount of all Swingline Loans exceeds the Maximum Swingline Amount, the Borrowers, jointly and severally, shall repay no later than the next following Busi...
Mandatory Prepayments and Repayments. (a) Section 4.02.01(c) of the Credit Agreement shall be and is hereby amended by (i) deleting the amount of "$25,000,000" appearing therein and inserting in its place the amount of "$50,000,000," and (ii) by deleting the phrases "270 days" and "270 day" wherever they appear therein and inserting in their place, the phrases "360 days" and "360 day", respectively.
(b) Section 4.02.01(f) of the Credit Agreement shall be and is hereby amended by (i) deleting the percentage "60%" appearing therein and inserting in its place, the percentage "50%" and (ii) by deleting the period at the end thereof and inserting the following language in its place: ", provided, however, that should the Borrower maintain a Leverage Ratio of not more than 3.50 to 1.00 on the last day of four consecutive fiscal quarters of the Borrower, the requirements of this Section shall thereupon no longer be in effect as to any Excess Cash Payment Date thereafter occurring."
Mandatory Prepayments and Repayments. (a) ------------------------------------ If on any date prior to the Conversion Date the sum of the outstanding principal amount of Loans and Competitive Bid Loans (all the foregoing, collectively, the "Aggregate Loan Outstandings") exceeds the Total Commitment as then in effect, the Borrower shall prepay on such date the principal of Loans, in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Loans as set forth above, the remaining Aggregate Loan Outstandings exceed the Total Commitment, the Borrower shall repay on such date the principal of Competitive Bid Loans in an aggregate amount equal to such excess, provided that no Competitive Bid -------- Loan shall be prepaid pursuant to this sentence unless the Bank that made same consents to such prepayment. In the absence of such consent, the provisions of Section 3.02(d) shall be applicable.
Mandatory Prepayments and Repayments. (i) On any Revolving Reduction Date specified in a Notice of Revolving Reduction delivered pursuant to Section 4.02, the Company shall prepay the outstanding principal amount of the Revolving Loans, in an amount equal to the excess of the principal amount of Revolving Loans then outstanding over the Maximum Revolving Amount (after giving effect to the scheduled reduction of the Maximum Revolving Amount), plus all accrued and unpaid interest as of such Revolving Reduction Date.
(ii) On (y) the Revolving Termination Date specified in a Notice of Revolving Termination delivered by the Company pursuant to Section 4.02, or (z) the date of a Refinancing Transaction, the Company shall repay the entire principal amount of the Revolving Loans then outstanding, all accrued and unpaid interest thereon and all other Obligations hereunder.
Mandatory Prepayments and Repayments. 13- 3.03 Method and Place of Payment...................................-14- 3.04 Net Payments..................................................-14- SECTION 4. Conditions Precedent..........................................-15- 4.01 Effectiveness; Notes..........................................-15- 4.02 No Default; Representations and Warranties....................-15- 4.03 Officer's Certificate.........................................-16- 4.04 Opinions of Counsel...........................................-16- 4.05 Corporate Proceedings.........................................-16- 4.06 Consummation of the Transaction...............................-16-
Mandatory Prepayments and Repayments. 39 SECTION 2.12. General Provisions as to Payments.................. 40 SECTION 2.13. Computation of Interest and Fees................... 44 SECTION 2.14. Election and Release of Borrowers................. 45 ARTICLE III
Mandatory Prepayments and Repayments. (a) On each date ------------------------------------ on which the Commitments are reduced pursuant to Section 2.08, the Borrower shall repay or prepay such principal amount of the outstanding Loans, if any (together with interest accrued thereon), as may be necessary so that after such repayment or payment the Aggregate Outstanding Loans do not exceed the Aggregate Commitments as then reduced.
(b) If the Agent determines at any time (either on its own initiative or at the insistence of any Bank) that the aggregate principal amount of the Foreign Currency Loans outstanding (after converting each such Foreign Currency Loan to its Dollar Equivalent on the date of such calculation) at any time exceeds 105% of the amount of the aggregate Commitments less the outstanding aggregate amount of all Syndicated Dollar Loans, Dollar Money Market Loans and Swing Loans, then upon 5 Foreign Currency Business Days' written notice from the Agent to the Parent, the Borrowers shall prepay an aggregate principal amount of Loans sufficient to bring the Aggregate Outstanding Loans to an amount not exceeding 100% of the amount of the Aggregate Commitments. Nothing in the foregoing requires the Agent to make any such calculation unless expressly requested to do so by the Required Banks, except as provided below. All such prepayments shall be applied in the following order: (i) first to Swing Loans; (ii) then to other Base Rate Loans; (iii) then to Euro-Dollar Loans; (iv) then to Syndicated Foreign Currency Loans; (v) then to Dollar Money Market Loans, and (vi) lastly, to Foreign Currency Money Market Loans.
(c) Notwithstanding any provision in Section 2.01 or 2.11 to the contrary, if at the time of receipt of any Notice of Borrowing or Money Market Quote Request, the Aggregate Outstanding Loans is equal to or greater than 66 and 2/3% of the Aggregate Commitments, then the Dollar Equivalent of each Foreign Currency Loan shall be calculated by the Agent as of such date, rather than as of the date such Foreign Currency Loans were disbursed, and in the event that, as a result of such calculation, the Aggregate Outstanding Loans exceeds the Aggregate Commitments, then (i) no additional Borrowings shall be permitted and (ii) the Foreign Currency Loans shall be subject to mandatory repayment as provided in Section 2.11(b).
