Common use of Mandatory Prepayments from Net Proceeds Clause in Contracts

Mandatory Prepayments from Net Proceeds. Within three (3) days from (i) the date of any Disposition or (ii) an Event of Loss, the Company will pay to you, without premium (except as provided in Section 3.5 hereof), as a mandatory prepayment on account of the principal amount of the Loans, the lesser of (i) an amount equal to 100% of the Net Proceeds received by the Company with respect to such Disposition or Event of Loss, as the case may be, or (ii) such principal amount of the Loans as may then be outstanding. The principal amount of the Loans prepaid pursuant to this Section 5.2.2 may not be reborrowed and shall reduce the Maximum Amount of Credit.