Mandatory Prepayments of Loans. (a) In the event that the Borrower or any of its Subsidiaries receives any Net Cash Proceeds arising from any Asset Sale, Debt Issuance or Equity Issuance, then 100% of such Net Cash Proceeds shall be applied by the Borrower to prepay the Loans not later than five Business Days following the receipt by the Borrower or such Subsidiary of such Net Cash Proceeds. The Borrower shall notify the Administrative Agent within three Business Days of the receipt by the Borrower or its Subsidiary of any such Net Cash Proceeds and the Administrative Agent will promptly notify each Lender of its receipt of each such notice.
(b) The Borrower shall notify the Administrative Agent by telephone (confirmed by facsimile or by other electronic transmission) of any prepayment required by Section 2.11(a) (i) in the case of prepayment of a Eurocurrency Borrowing, not later than 2:00 p.m., New York City time, three Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR Borrowing, not later than 2:00 p.m., New York City time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid and set forth a reasonably detailed calculation of the amount of such mandatory prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each prepayment under Section 2.11(a) shall be applied ratably to the Loans. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13(d). Each prepayment of a Borrowing under this Section 2.11 shall not be reborrowed.
Mandatory Prepayments of Loans. (i) If at any time, (x) the Total Legacy Outstandings exceeds the Legacy Line Cap then in effect or (y) the Total ETMC Outstandings exceeds the ETMC Line Cap then in effect, the Borrowers under such Revolving Credit Facility shall, promptly, but in any event within one (1) Business Day, prepay or cause to be promptly prepaid Loans under such Revolving Credit Facility and Swing Line Loans made to Borrowers under such Revolving Credit Facility and/or (with respect to the Legacy Credit Facility) Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided that the Legacy Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Legacy Revolving Loans and Swing Line Loans made to Legacy Borrowers, such aggregate Outstanding Amount exceeds the Legacy Line Cap.
(ii) On each Business Day during any Cash Dominion Period, the Administrative Agent shall apply (x) all funds credited to the Deposit Accounts of the Loan Parties (other than the ETMC Loan Parties) subject to Deposit Account Control Agreements the previous Business Day (whether or not immediately available) first to prepay any Protective Advances made to Legacy Borrowers that may be outstanding, second to prepay any outstanding Swing Line Loans made to Legacy Borrowers, third to prepay any Legacy Revolving Loans, fourth to Cash Collateralize outstanding L/C Obligations in an amount equal to one hundred three percent (103%) of such L/C Obligations, fifth to prepay any Protective Advances made to ETMC Borrowers that may be outstanding, sixth to prepay any outstanding Swing Line Loans made to ETMC Borrowers, and seventh to prepay any ETMC Revolving Loans and (y) all funds credited to the Deposit Accounts of the ETMC Loan Parties subject to Deposit Account Control Agreements the previous Business Day (whether or not immediately available) first to prepay any Protective Advances made to ETMC Borrowers that may be outstanding, second to prepay any outstanding Swing Line Loans made to ETMC Borrowers, third to prepay any ETMC Revolving Loans, fourth to prepay any Protective Advances made to Legacy Borrowers that may be outstanding, fifth to prepay any outstanding Swing Line Loans made to Legacy Borrowers, sixth to prepay any Legacy Revolving Loans and seventh to Cash Collateralize outstanding L/C Obligations in an amount equal to one hundred three percent (103%) of such L/C Obligations.
Mandatory Prepayments of Loans. (i) If for any reason the Total Revolving A Outstandings at any time exceed the Aggregate Revolving A Commitments then in effect, the Company shall immediately prepay Revolving A Loans and/or Swing Line Loans made to it, and/or the Company shall Cash Collateralize the L/C Obligations, in an aggregate amount equal to such excess; provided, however, that the Company shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving A Loans and Swing Line Loans the Total Revolving A Outstandings exceed the Aggregate Revolving A Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b)(i) shall be applied, first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving A Loans, and, third, to Cash Collateralize the remaining L/C Obligations. Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurocurrency Rate Loans in direct order of Interest Period maturities.
(ii) If for any reason the Outstanding Amount of all Revolving B Loans at any time exceeds the Aggregate Revolving B Commitments then in effect (other than solely as a result of a condition described in clause (iii) below, in which case any required prepayment shall be made in accordance with, and to the extent required by, such clause), the Borrowers shall immediately prepay Revolving B Loans in an aggregate amount equal to such excess. All amounts required to be paid pursuant to this Section 2.05(b)(ii) shall be applied first to Base Rate Loans and then to Eurocurrency Rate Loans in direct order of Interest Period maturities.
(iii) If the Administrative Agent notifies the Company at any time that (i) the Outstanding Amount of all Revolving B Loans made to the UK Borrower at such time exceeds an amount equal to 105% of the UK Borrower Sublimit then in effect or (ii) solely as a result of changes in the applicable Spot Rates, the Outstanding Amount of all Revolving B Loans exceeds 105% of the Aggregate Revolving B Commitments, then, within five Business Days after receipt of such notice, the Company or the UK Borrower, as the case may be, shall prepay Revolving B Loans in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the UK Borrower Sublimit or the Aggregate Revolving B Commitments, as applicable,...
Mandatory Prepayments of Loans. In the event and on each occasion that the Dollar Equivalent of the aggregate principal amount of outstanding Revolving Loans and L/C Obligations exceeds the Revolving Credit Commitment Amount then in effect, then the Borrower shall promptly prepay Revolving Loans in an aggregate amount sufficient to eliminate such excess. Immediately upon determining the need to make any such prepayment, the Borrower shall notify the Administrative Agent of such required prepayment and of the identity of the particular Revolving Loans being prepaid. If the Administrative Agent shall notify the Borrower that the Administrative Agent has determined that any prepayment is required under this Section 2.10, the Borrower shall make such prepayment no later than the second Business Day following such notice. Any mandatory prepayment of Revolving Loans pursuant hereto shall not be limited by the notice provision for prepayments set forth in Section 2.9. Each such prepayment shall be accompanied by a payment of all accrued and unpaid interest on the Loans prepaid and any applicable breakage fees and funding losses pursuant to Section 2.11.
Mandatory Prepayments of Loans. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess. Prepayments shall be applied first to Base Rate Loans and then to LIBOR Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.04(b) and Section 2.05(a)(ii) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.
Mandatory Prepayments of Loans. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.
Mandatory Prepayments of Loans. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or the Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect.
Mandatory Prepayments of Loans. 35 2.09 Repayment.............................................................37 2.10 Interest..............................................................38 2.11 Fees..................................................................38 2.12 Computation of Fees and Interest......................................39 2.13 Payments by the Company...............................................40 2.14 Payments by the Lenders to the Administrative Agent...................41 2.15 Sharing of Payments, Etc..............................................42 2.16 Collateral Documents and Subsidiary Guaranty..........................42 ARTICLE III TAXES, YIELD PROTECTION AND ILLEGALITY.............................42
Mandatory Prepayments of Loans. Mandatory Commitment Reductions............. 27 (a) Asset Dispositions................................................ 27 (b) Repayment of Partnership Loans.................................... 28 (c)
Mandatory Prepayments of Loans. Mandatory prepayments on the Loan Obligations will be paid by the Applicable Agent to the Lenders ratably in accordance with their respective interests therein; provided that:
(A) Mandatory prepayments in respect of the Revolving Commitments under subsection (b)(i)(A) above shall be applied to the respective Revolving Obligations as appropriate.
(B) Mandatory prepayments in respect of Subject Dispositions and Involuntary Dispositions under subsection (b)(ii) above, Indebtedness under subsection (b)(iii) and Consolidated Excess Cash Flow under subsection (b)(iv) above shall be applied (i) first to the Delayed Draw Term A Loans (for the avoidance of doubt, to the extent any Delayed Draw Term A Loans shall have been made and remain outstanding) and Term B-4 Loans on a pro rata basis (in direct order of maturity and, within such tranche, shall be applied on a pro rata basis to the payments required under Section 2.05(c) (in the case of the Delayed Draw Term A Loans (for the avoidance of doubt, to the extent any Delayed Draw Term A Loans shall have been made and remain outstanding)) and Section 2.05(d) (in the case of Term B-4 Loans)), then (ii) to the Revolving Obligations (without permanent reduction of the Revolving Commitments); provided that prepayments in respect of Indebtedness under subsection (b)(iii) with the proceeds of Refinancing Debt or Replacement Revolving Commitments shall be applied only to the Loan or Commitment being refinanced.
