Common use of Mandatory Prepayments if Total Outstandings exceed the Borrowing Base Clause in Contracts

Mandatory Prepayments if Total Outstandings exceed the Borrowing Base. Subject to Section 2.17, if, on any date, the Total Outstandings exceed the Borrowing Base (an “Overadvance”), the Borrower agrees, without notice or demand, to prepay on such date the outstanding principal amount of the Loans by an amount equal to the applicable excess. If on any date, after giving effect to any mandatory prepayment made on such date pursuant to the preceding sentence, the Outstanding Amount of all L/C Obligations exceed the Borrowing Base, the Borrower agrees to immediately Cash Collateralize the outstanding Letters of Credit on such date in an amount equal to the amount by which such Outstanding Amount of the L/C Obligations exceeds the Borrowing Base.

Mandatory Prepayments if Total Outstandings exceed the Borrowing Base. Subject to Section 2.17‎2.17, if, on any date, the Total Outstandings exceed the Borrowing Base (an “Overadvance”), the Borrower agrees, without notice or demand, to prepay on such date the outstanding principal amount of the Loans by an amount equal to the applicable excess. If on any date, after giving effect to any mandatory prepayment made on such date pursuant to the preceding sentence, the Outstanding Amount of all L/C Obligations exceed the Borrowing Base, the Borrower agrees to immediately Cash Collateralize the outstanding Letters of Credit on such date in an amount equal to the amount by which such Outstanding Amount of the L/C Obligations exceeds the Borrowing Base.

Mandatory Prepayments if Total Outstandings exceed the Borrowing Base. Subject to Section 2.17, ifIf, on any date, the Total Outstandings exceed the Borrowing Base (an “Overadvance”)Base, the Borrower agreesBorrowers, jointly and severally, agree, without notice or demand, to prepay on such date the outstanding principal amount of the Committed Loans by an amount equal to the applicable excessexcess and the provisions of Section 3.05 shall be applicable to such mandatory prepayment. If on any date, after giving effect to any mandatory prepayment made on such date pursuant to the preceding sentence, the Outstanding Amount of all L/C Obligations exceed the Borrowing Base, the Borrower agrees Borrowers, jointly and severally, agree to immediately Cash Collateralize the outstanding Letters of Credit on such date in an amount equal to the amount by which such Outstanding Amount of the L/C Obligations exceeds the Borrowing Base.

Mandatory Prepayments if Total Outstandings exceed the Borrowing Base. Subject to Section 2.17, ifIf, on any date, the Total Outstandings exceed the Borrowing Base (an “Overadvance”)Base, the Borrower agreesshall, without notice or demand, to prepay on such date the outstanding principal amount of the Committed Loans by an amount equal to the applicable excessexcess and the provisions of Section 3.05 shall be applicable to such mandatory prepayment. If on any date, after giving effect to any mandatory prepayment made on such date pursuant to the preceding sentence, the Outstanding Amount of all L/C Obligations exceed the Borrowing Base, the Borrower agrees to shall immediately Cash Collateralize the outstanding Letters of Credit on such date in an amount equal to the amount by which such Outstanding Amount of the L/C Obligations exceeds the Borrowing Base.

Mandatory Prepayments if Total Outstandings exceed the Borrowing Base. Subject to Section 2.17, ifIf, on any date, the Total Outstandings exceed the Borrowing Base (an “Overadvance”)Base, the Borrower agrees, without notice or demand, to prepay on such date the outstanding principal amount of the Committed Loans by an amount equal to the applicable excess. If on any date, after giving effect to any mandatory prepayment made on such date pursuant to the preceding sentence, the Outstanding Amount of all L/C Obligations exceed the Borrowing Base, the Borrower agrees to immediately Cash Collateralize the outstanding Letters of Credit on such date in an amount equal to the amount by which such Outstanding Amount of the L/C Obligations exceeds the Borrowing Base.