Mandatory Prepayments of Advances. On any date that the Borrower either (a) obtains knowledge or (b) receives notice from the Administrative Agent (with calculations set forth in reasonable detail), that as of any date that the Borrowing Base is required to be calculated, the aggregate outstanding principal amount of all Advances exceeds the lesser of (i) the sum of (x) the amount of the Aggregate Commitment and (y) any Advances in excess of the Aggregate Commitment made pursuant to Section 2.16(A)(ii) and (ii) the Borrowing Base (the occurrence of an excess of the aggregate outstanding principal amount of all Advances over the lesser of the amount set forth in clauses (i) and (ii) being referred to herein as a “Borrowing Base Deficiency”), the Borrower shall pay to each Funding Agent for the account of its Lender Group the amount of any such excess (to be applied to the reduction of Advances ratably among the Lender Groups based on their Lender Group Advance Percentages), together with accrued but unpaid interest on the amount required to be so prepaid to the date of such prepayment and any Liquidation Fee in connection with such prepayment if such prepayment is not made on a Payment Date. Notwithstanding anything contained herein to the contrary, in lieu of repaying Advances to cure a Borrowing Base Deficiency, Seller may instead voluntarily assign additional Eligible Solar Loans and the related Solar Assets to the Borrower under the Sale and Contribution Agreement in an amount sufficient to cure such Borrowing Base Deficiency so long as (x) the Borrower provides written notice to Administrative Agent that Seller intends to make such contribution together with a pro forma Borrowing Base Certificate giving effect to such contribution, (y) the Seller delivers the related Custodian File to the Custodian for certification pursuant to the Custodial Agreement and (z) Administrative Agent shall have received the related A-1 Custodial Certification in respect of such Eligible Solar Loans and the related Solar Assets from the Custodian pursuant to the Custodial Agreement.
Mandatory Prepayments of Advances. (A) If, as of any Borrowing Base Calculation Date, the aggregate outstanding principal amount of all Advances exceeds the lesser of (i) the amount of the Aggregate Commitment in effect as of such date and (ii) the Borrowing Base as of such Borrowing Base Calculation Date (as such Borrowing Base is set forth in the applicable Borrowing Base Certificate delivered with respect to such Borrowing Base Calculation Date) (the occurrence of any such excess being referred to herein as a “Borrowing Base Deficiency”), then except as otherwise provided in Section 2.9(C) below, the Borrower shall, in accordance with Section 2.9(B), pay to the Paying Agent for the account of the Lenders (and direct the Paying Agent to pay to the Lenders) the amount of any such excess (to be applied to the reduction of Advances ratably among all Lender Groups based on their Lender Group Percentages to the extent necessary to cure such Borrowing Base Deficiency), together with accrued but unpaid interest on the amount required to be so prepaid to the date of such prepayment and any Breakage Costs or Liquidation Fees in connection with such prepayment if such prepayment is not made on a Payment Date.
Mandatory Prepayments of Advances. On any date that the Borrower either (a) obtains knowledge that (i) as of any prior Funding Date, any prior Payment Date or date on which a prepayment was made in accordance with Section 2.8 or (ii) in connection with the delivery of a Borrowing Base Certificate for an upcoming Funding Date, Payment Date or date on which a prepayment is to made in accordance with Section 2.8, or (b) receives notice from the Administrative Agent (with calculations set forth in reasonable detail), that as of any Funding Date, Payment Date or date on which a prepayment is made in accordance with Section 2.8, (i) the aggregate outstanding principal amount of all Class A Advances exceeds the lesser of (x) the amount of the Class A Aggregate Commitment in effect as of such date (without giving effect to or treating as outstanding any Advance that was approved pursuant to Section 2.18(A)) and (y) the Class A Borrowing Base (the occurrence of any such excess being referred to herein as a “Class A Borrowing Base Deficiency”), or (ii) (A) if such date is more than 30 days prior to the end of the Availability Period, (I) the aggregate outstanding principal amount of all Class B-I Advances exceeds the lesser of (x) the amount of the Class B-I Aggregate Commitment in effect as of such date (without giving effect to or treating as outstanding any Advance that was approved pursuant to Section 2.18(A)) and (y) the Class B-I Borrowing Base (the occurrence of any such excess being referred to herein as a “Class B-I Borrowing Base Deficiency”) or (II) the aggregate outstanding principal amount of all Class B-II Advances exceeds the lesser of (x) the amount of the Class B-II Aggregate Commitment in effect as of such date (without giving effect to or treating as outstanding any Advance that was approved pursuant to Section 2.18(A)) and (y) the Class B-II Borrowing Base (the occurrence of any such excess being referred to herein as a “Class B-II Borrowing Base Deficiency”) and (B) if such date is 30 days or less prior to the end of Availability Period, the aggregate outstanding principal amount of all Class B Advances exceeds the lesser of (x) the amount of the Class B Aggregate Commitment in effect as of such date (without giving effect to or treating as outstanding any Advance that was approved pursuant to Section 2.18(A)) and (y) the Class B Aggregate Borrowing Base (the occurrence of any such excess being referred to herein as a “Class B Aggregate Borrowing Base Deficiency” and together wit...
Mandatory Prepayments of Advances. 31 Section 2.10 Optional Prepayments; Removal of Collateral. 31 Section 2.11 Determination of Interest Rate. 31 Section 2.12 Payments and Computations 34 Section 2.13 Payment on Non-Business Days 34 Section 2.14 Taxes. 34 Section 2.15 Security Interest 38 Section 2.16 Limited Pledge of Xxxxxx Xxx Servicing 39 ARTICLE III CONDITIONS OF LENDING AND CLOSING 41 Section 3.1 Conditions Precedent to Closing 41 Section 3.2 Conditions Precedent to All Advances 42
Mandatory Prepayments of Advances. (i) If AEP shall cease to own, directly or indirectly, 100% of the Voting Stock of AGR, AGR shall prepay all Advances, unpaid interest and other amounts owing by AGR under this Agreement and (ii) with respect to each Specified Debt Issuance, promptly after the later of (A) the date of receipt of the Net Proceeds from such Specified Debt Issuance and (B) the date any power generation assets owned as of the Closing Date by OPCo are transferred to another Borrower in connection with such Specified Debt Issuance, and in any event within 30 days following such later date (or, if such asset transfer will be accompanied by the AGR Assumption, the APCo Assumption or the KPCo Assumption, in any event prior to the applicable assumption of Advances to occur on such date), each applicable Loan Party shall prepay Advances owing by such Loan Party (or, in the case of AEP, Advances owing by AGR) in an amount equal to the Net Proceeds of such Specified Debt Issuance. All such prepayments shall be applied ratably to the outstanding Advances of such Loan Party (or, in the case of AEP, Advances owing by AGR), first, to all outstanding Base Rate Advances, and second, to all outstanding Eurodollar Rate Advances in the direct order of Interest Period maturity dates applicable to such Eurodollar Rate Advances, in each case together with accrued interest to the date of such prepayment on the principal amount prepaid and, in the case of any Eurodollar Rate Advances, any amounts due in respect thereof pursuant to Section 9.04(c).
Mandatory Prepayments of Advances. 10 Section 2.10. Interest................................................................................................. 11
Mandatory Prepayments of Advances. Borrowing Base Deficiency 50 Section 2.10 Optional Prepayments; Removal of Collateral 51 Section 2.11 Determination of Interest Rate. 52 Section 2.12 Payments and Computations 55 Section 2.13 Payment on Non-Business Days 56 Section 2.14 Extension of Availability Period 56 Section 2.15 Taxes 56 Section 2.16 Defaulting Lenders 60 Section 2.17 Security Interest 61 Section 2.18 Limited Pledge of Xxxxxx Xxx Servicing 62 Section 2.19 Limited Pledge of Freddie Mac Servicing 63 Section 2.20 Limited Pledge of Xxxxxx Xxx Servicing 64 Section 2.21 Commitment Increase 65 Section 2.22 Base Servicing Fee Increases 65 Section 2.23 Increase in Commitment Amounts. 65
Mandatory Prepayments of Advances. The Borrowers shall, within one Business Day following the delivery of each Borrowing Base Certificate under Section 5.1(e) hereof, prepay the Advances in the amount, if any, by which the sum of the outstanding principal amount of the Advances and of the L/C Amount on the date of prepayment under this Section 2.7 exceeds the Borrowing Base set forth in such Borrowing Base Certificate.
Mandatory Prepayments of Advances. (a) Borrowing Base Deficiency.
Mandatory Prepayments of Advances. 11 Section 2.10. Interest...........................................................................................................12 Section 2.11. Inability to Determine Rates. ........................................................................13
