Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrowers shall immediately repay the Loans in the amount of (i) 100% of the net cash proceeds realized by a Prepayment Event described in clause (a), clause (b) or clause (c) of the definition of the term “Prepayment Event” and (ii) 50% of the net cash proceeds realized by a Prepayment Event described in clause (d) of the definition of the term “Prepayment Event”. Any such prepayments shall be applied to the Loans in accordance with Section 2.6(e).
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrower shall immediately pay to the Bank the net proceeds realized by such Prepayment Event. Each such payment shall be applied first to any outstanding Revolving Loans, second to the Term Loan B, and third to the Term Loan A. All prepayments applied to a Term Loan shall be applied to the scheduled principal payments on such Term Loan in the inverse order of their maturities.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrower shall immediately pay to the Bank the net proceeds realized by such Prepayment Event as a prepayment of Term Loan II and after Term Loan II has been paid in full, then as a prepayment of the Term Loan, along with any Interest Differential required under Section 2.4(a)(ii). Any such prepayments shall be applied to Term Loan II until Term Loan II is paid in full, thereafter to the Term Loan until the Term Loan is paid in full, and thereafter to the Revolving Loan until the Revolving Loan is paid in full. All prepayments applied to Term Loan II shall be applied to the scheduled principal payments on Term Loan II in the inverse order of their maturities. All prepayments applied to the Term Loan shall be applied to the scheduled principal payments on the Term Loan in the inverse order of their maturities. Amounts paid or prepaid on Term Loan II or the Term Loan may not be reborrowed. Amounts paid (unless following an acceleration or upon termination of the Revolving Commitment in whole) or prepaid on the Revolving Loan under this clause (b) may be reborrowed upon the terms and subject to the conditions and limitations of this Agreement.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrowers shall immediately pay to the Administrative Agent for the ratable benefit of the Lenders the net proceeds realized by such Prepayment Event and any prepayment fee payable under Section 2.23. Any such prepayments shall be applied first, to the Term Loans, second, to any outstanding Swing Line Loans and third, to any outstanding Revolving Loans. All prepayments applied to the Term Loans shall be applied to the scheduled principal payments on the Term Loans in the inverse order of their maturities.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrowers shall immediately pay to the Lender the net cash proceeds realized by such Prepayment Event. Any such prepayments shall be applied to the Loans in accordance with Section 2.6(d).
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, within ten (10) Banking Days of the occurrence of such Prepayment Event, the Borrower shall pay to the Bank the net proceeds realized by such Prepayment Event. Any such prepayments shall be applied to the outstanding principal balance of the Revolving Loans and must be accompanied by accrued and unpaid interest on the amount prepaid. Amounts paid (unless following an acceleration or upon termination of the Revolving Commitment in whole) or prepaid on the Revolving Loans under this paragraph (b) may be reborrowed upon the terms and subject to the conditions and limitations of this Agreement.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrowers shall immediately repay the Loans in the amount of (without duplication):
(i) 100% of the net cash proceeds realized by a Prepayment Event described in clause (b), clause (c) or clause (e) of the definition of the term “Prepayment Event,”
(ii) 50% of the net cash proceeds realized by a Prepayment Event described in clause (d) of the definition of the term “Prepayment Event”; provided, however, that the Borrowers shall repay the Loans in the amount of 100% of the proceeds of the RDA Loans approved by the Required Lenders (net of all reasonable closing costs for such RDA Loans, all capital expenditures required by such RDA Loans, and all required working capital balances required by such RDA Loans) and 100% of the net cash proceeds of the First Private Placement Transaction,
(iii) at all times when the Total Outstandings are greater than $10,000,000, 100% of the net cash proceeds in excess of $250,000 (either individually or in the aggregate during the remaining term of this Agreement commencing on the date of the Third Amendment) realized by any one or more Prepayment Event(s) described in clause (a) of the definition of the term “Prepayment Event” and relating to any assets sold, transferred or otherwise disposed of with a Value (either individually or in the aggregate during the term of this Agreement) in excess of $250,000, and
(iv) at all times when the Total Outstandings are less than or equal to $10,000,000, 100% of the net cash proceeds in excess of $2,500,000 (either individually or in the aggregate during the remaining term of this Agreement commencing on the date of the Third Amendment) realized by any one or more Prepayment Event(s) described in clause (a) of the definition of the term “Prepayment Event” and relating to any assets sold, transferred or otherwise disposed of with a Value (either individually or in the aggregate during the term of this Agreement) in excess of $2,500,000. Any such prepayments shall be applied to the Loans in accordance with Section 2.6(e).”
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrower shall immediately pay to the Lender the net proceeds realized by such Prepayment Event and any prepayment fee payable under Section 2.24. Any such prepayments shall be applied, pro rata, to the Term Loans (first against Base Rate Advances and then to Quoted Rate and LIBOR Rate Advances in order starting with the Quoted Rate or LIBOR Rate Advances having the shortest time to the end of the applicable Interest Period), second, to any outstanding Revolving Loans, and third to cash collateralize any issued and outstanding Letters of Credit. All prepayments applied to the Term Loans shall be applied to the scheduled principal payments on the Term Loans, pro rata, in the inverse order of their maturities.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrower shall immediately pay to the Bank the net proceeds realized by such Prepayment Event. Any such prepayments shall be applied to the outstanding principal balance of the Revolving Loans and must be accompanied by accrued and unpaid interest on the amount prepaid. Amounts paid (unless following an acceleration or upon termination of the Revolving Commitment in whole) or prepaid on the Revolving Loans under this paragraph (b) may be reborrowed upon the terms and subject to the conditions and limitations of this Agreement. . Interest on the Revolving Loans and the Revolving Commitment Fees shall be computed on the basis of actual days elapsed and a year of 360 days.
Mandatory Prepayments for a Prepayment Event. If at any time a Prepayment Event occurs, the Borrower shall immediately pay to the Bank the net proceeds realized by such Prepayment Event as a prepayment of the Term Loan. Any such prepayments shall be applied to the Term Loan until the Term Loan is paid in full, and thereafter to the Revolving Loan until the Revolving Loan is paid in full. All prepayments applied to the Term Loan shall be applied to the scheduled principal payments on the Term Loan in the inverse order of their maturities. Amounts paid or prepaid on the Term Loan may not be reborrowed. Amounts paid (unless following an acceleration or upon termination of the Revolving Commitment in whole) or prepaid on the Revolving Loan under this clause (b) may be reborrowed upon the terms and subject to the conditions and limitations of this Agreement.
