Mandatory Prepayments of Loans Mandatory Commitment Reductions. If on any date the Effective Amount of L/C Obligations exceeds the L/C Cap, the Borrower shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to the excess above any such cap. If on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the lesser of (a) the Collateral Position or (b) the total Uncommitted Line, or if the Effective Amount of all Revolving Loans under the Borrowing Base Line then outstanding, plus the Effective Amount of all L/C Obligations under such Line exceed the Borrowing Base Advance Cap, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Advances by an amount equal to the applicable excess.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. (a) If, on any date that the Total Commitment Amount automatically decreases pursuant to the terms hereof, the amount of Loans outstanding exceeds the then-permitted Total Commitment Amount, the Borrower shall immediately pay such excess amount to the Agent for the ratable benefit of the Banks. As the Total Commitment Amount available hereunder is reduced, each Bank's Commitment amount hereunder shall be automatically reduced in accordance with its Pro Rata Share of the Total Commitment Amount.
(b) If on any date on or prior to the Revolving Termination Date the Effective Amount of L/C Obligations exceeds the L/C Commitment, the Borrower shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to the excess of the maximum amount then available to be drawn under the Letters of Credit over the aggregate L/C Commitment. Subject to Section 4.4, if on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans and Swingline Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the combined Commitments, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans, L/C Advances and Swingline Loans (as necessary) by an amount equal to the applicable excess. Additionally, to the extent the Borrower receives any payments with respect to purchases of Permitted Receivables under the Permitted Receivables Purchase Facility from BofA or any Affiliate, such payments shall be immediately used, without demand or notice from any Person, by the Borrower to prepay the amount of Revolving Loans, L/C Advances and Swingline Loans (as necessary) by the amounts of any such payments.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. (a) If on any date the Effective Amount of L/C Obligations exceeds the L/C Commitment, the Company shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to the excess of the maximum amount then available to be drawn under the Letters of Credit over the Aggregate L/C Commitment. Subject to Section 4.04, if on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the combined Commitments, the Company shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Advances by an amount equal to the applicable excess.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. Subject to Section 4.04, if on any date on or prior to the Revolving Loan Termination Date the Effective Amount of all Facility A Revolving Loans then outstanding exceeds the combined Facility A Commitments, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of Facility A Revolving Loans by an aggregate amount equal to the applicable excess.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. 20 (a) Asset Dispositions..........................................20 (b) Payments on Overall Contract................................20 (c) General.....................................................20 (d)
Mandatory Prepayments of Loans Mandatory Commitment Reductions. (a) If on any date the Effective Amount of L/C Obligations under the Borrowing Base Line exceeds the L/C Cap or any L/C Sub-limit, the Co-Borrowers shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to the excess above any such cap or limit, and on the Expiration Date Co-Borrowers shall Cash Collateralize all then outstanding Letters of Credit under the Borrowing Base Line in an amount equal to the Effective Amount of all L/C Obligations related to such Letters of Credit. If on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans then outstanding plus the Effective Amount of all L/C Obligations under the Borrowing Base Line exceeds the Borrowing Base Cap, the Co-Borrowers shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Advances by an amount equal to the applicable excess.
(b) If pursuant to the definition of “Elected Line Cap,” such Elected Line Cap is reduced to a level (including zero) which is less than the amounts outstanding under the Borrowing Base Line, then the Co-Borrowers shall immediately, and without notice or demand, prepay the amount of such excess and Cash Collateralize any outstanding Letters of Credit under the Borrowing Base Line.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. 8 Extension of Revolving Termination Date/ Repayment..................27 .........................................................27 2.9 Interest............................................................28 2.10 Fees...............................................................29 (a) Arrangement, Agency Fees...................................29 (b)
Mandatory Prepayments of Loans Mandatory Commitment Reductions. If on any date the Effective Amount of L/C Obligations exceeds the L/C Cap, the Borrower shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to 105% of the excess above any such cap. If on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans, and Swing Line Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the lesser of (a) the Collateral Position or (b) the Total Committed Line Portion, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Advances by an amount equal to the applicable excess.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. (a) Subject to Section 4.04, if on any Computation Date the Bank shall have determined that due to a change in applicable rates of exchange between Dollars and the Approved Currency the aggregate Equivalent principal amount of all Loans then outstanding exceeds the Commitment by an amount equal to or greater than 10% of the Commitment, THEN the Bank shall give notice to the Borrower that a prepayment is required under this Section, and the Borrower agrees thereupon to make prepayments of Loans such that, after giving effect to such prepayment the aggregate Equivalent amount of all Loans does not exceed the Commitment.
(b) Any prepayments pursuant to this Section 2.07 shall be applied to Loans with the shortest Interest Periods remaining. The Borrower shall pay, together with each prepayment under this Section 2.07, accrued interest on the amount prepaid and any amounts required pursuant to Section 4.04.
Mandatory Prepayments of Loans Mandatory Commitment Reductions. The Company shall make a prepayment of the Loans within 30 days after receipt of proceeds from any sale, transfer or other disposition by the Company or any Subsidiary of the Company of any asset outside the ordinary course of its business (other than any sale of 12b-1 Assets pursuant to the Purchase and Sale Agreement among Phoenix Equity Planning Corporation, the Company and FEP Capital L.P. dated as of June 1, 1997, additional sales of 12b-1 Assets for up to an aggregate amount of $4,000,000 or any capital stock of Beutxx Xxxdxxx xxx Company Ltd., so long as in either case the proceeds of such sale shall be reinvested within 365 days in businesses or assets substantially similar to the business or assets of the Company in an amount equal to 100% of the Net Cash Proceeds of such sale, to the extent the aggregate proceeds thereof shall exceed $2,000,000 in any fiscal year. All prepayments of Loans pursuant to this Section 2.9 shall be applied to the Facility B Loans until the Facility B Loans are repaid in full, and then to the Facility A Loans. On the date of any prepayment pursuant to this Section 2.9, accrued interest on the amount of such prepayment, together with any amounts owing under Section 3.4, shall be due and payable. The Facility A Commitments shall be reduced by the amount of such prepayments and the Maximum Facility B Commitments shall be reduced by an amount equal to one-half of the amount of such prepayment.
