Common use of Mandatory Prepayments -- Excessive Balance Clause in Contracts

Mandatory Prepayments -- Excessive Balance. If the outstanding indebtedness under the Term Loan Facility at any time exceeds the Available Credit Portion as determined in accordance with Section 1.3, then such excess amount outstanding must be re-paid to Administrative Agent in its entirety immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

Appears in 3 contracts

Samples: Credit Facility Agreement (Bizness Online Com), Credit Facility Agreement (Talk Com), Credit Facility Agreement (MCG Finance Corp)

AutoNDA by SimpleDocs

Mandatory Prepayments -- Excessive Balance. If the outstanding indebtedness principal balance under the Term Loan Facility at any time exceeds the Available Credit Portion Term Loan Commitment as determined in accordance with Section 1.3, then such excess amount outstanding must be re-paid to Administrative Agent in its entirety immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

Appears in 2 contracts

Samples: Credit Facility Agreement (MCG Finance Corp), Credit Facility Agreement (NBG Radio Network Inc)

Mandatory Prepayments -- Excessive Balance. If the outstanding indebtedness under the Term Loan Line of Credit Facility at any time exceeds the Available Credit Portion as determined in accordance with Section 1.3, then such excess amount outstanding must be re-paid to Administrative Agent (for the ratable benefit of the Line Lenders) in its entirety immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

Appears in 1 contract

Samples: Credit Facility Agreement (Talk Com)

Mandatory Prepayments -- Excessive Balance. If the outstanding indebtedness under the Term Loan Line of Credit Facility at any time exceeds the Available Credit Portion as determined in accordance with Section 1.3Portion, then such excess amount outstanding must be re-paid to Administrative Agent in its entirety immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

Appears in 1 contract

Samples: Credit Agreement (Integrity Inc)

AutoNDA by SimpleDocs

Mandatory Prepayments -- Excessive Balance. If the outstanding indebtedness under the Term Loan Facility at any time exceeds the Available Credit Portion Term Loan Commitment as determined in accordance with Section 1.3, then such excess amount outstanding must be re-paid to Administrative Agent in its entirety (for the ratable benefit of the Term Lenders) immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

Appears in 1 contract

Samples: Credit Facility Agreement (Talk Com)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!