Mandatory Prepayments of Revolving Credit Loans. If, at any time, the total Revolving Credit Exposures of all Lenders exceed the total Revolving Credit Commitments, then the Borrower shall prepay Revolving Credit Loans (or, to the extent after giving effect to any such prepayment, any such excess remains, cash collateralize Letters of Credit in a manner consistent with the requirements in Section 2.07(k)), to eliminate such excess within one (1) Business Day of receiving written notice of such excess from the Administrative Agent.
Mandatory Prepayments of Revolving Credit Loans. (i) If for any reason the Total Revolving Credit Outstandings at any time exceed the Revolving Credit Facility at such time, the Borrower shall immediately prepay Revolving Credit Loans, Swing Line Loans and L/C Borrowings and/or Cash Collateralize the L/C Obligations (other than L/C Borrowings) in an aggregate amount equal to such excess.
Mandatory Prepayments of Revolving Credit Loans. (i) If for any reason the Revolving Credit Outstandings at any time exceed the Revolving Credit Commitments then in effect, the Borrower shall immediately prepay Revolving Credit 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 2.06(d) unless after the prepayment in full of the Revolving Credit Loans and Swing Line Loans the Revolving Credit Outstandings exceed the Revolving Credit Commitments then in effect.
Mandatory Prepayments of Revolving Credit Loans. (a) The Borrower shall prepay the Revolving Credit Loans on any day and on the effective date of any reduction or termination in the Revolving Credit Loan Commitment hereunder to the extent that the aggregate principal amount of such Loans on such date shall exceed the Revolving Credit Loan Commitment in effect on such date; if the Revolving Credit Loan Commitment is terminated in full, then the Borrower shall immediately prepay in full the aggregate outstanding principal amount of all Revolving Credit Loans. Repayments pursuant to this Section shall first be made against (to the extent available) outstanding Revolving Credit Loans which are Libor Loans having an Interest Period ending on the date of such repayment, then to Base Rate (US) Loans, as directed by the Borrower by written (or telephonic, promptly confirmed in writing) notice to the Lender or, in the absence of such direction, by the Lender.
Mandatory Prepayments of Revolving Credit Loans. (a) If at any time the aggregate principal amount of the outstanding Revolving Credit Loans plus the aggregate Letter of Credit Outstandings exceeds the lesser of (x) the Total Revolving Credit Commitment and (y) the Borrowing Base, the Borrower will within one (1) Business Day (i) prepay the Revolving Credit Loans in an amount necessary to cause the aggregate principal amount of the outstanding Revolving Credit Loans plus the aggregate Letter of Credit Outstandings, including unreimbursed draws, to be equal to or less than the lesser of (x) the Total Revolving Credit Commitment and (y) the Borrowing Base, and (ii) if, after giving effect to the prepayment in full of the Revolving Credit Loans, the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account exceeds the lesser of (x) the Total Revolving Credit Commitment or (y) the Borrowing Base, deposit into the Letter of Credit Account an amount equal to 105% of the amount by which the aggregate Letter of Credit Outstandings in excess of the amount of cash held in the Letter of Credit Account so exceeds the lesser of (x) the Total Revolving Credit Commitment or (y) the Borrowing Base. Any such amount deposited in the Letter of Credit Account pursuant to this Section 2.15(a) shall, unless an Event of Default has occurred and is continuing, be made available or refunded to the Borrower by the Revolving Administrative Agent to the extent at any time the lesser of (x) the Total Revolving Credit Commitment and (y) the Borrowing Base exceeds the aggregate principal amount of the outstanding Revolving Credit Loans plus the aggregate Letter of Credit Outstandings.
Mandatory Prepayments of Revolving Credit Loans. (i) ASSET SALE PROCEEDS. No later than one hundred eighty (180) days following the receipt by any Loan Party, the Borrower shall make mandatory principal prepayments of the Revolving Credit Loans in the manner set forth in SECTION 2.05(d)(iii) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from the Disposition or series of related Dispositions of assets by any Loan Party permitted pursuant to SECTION 8.05(k) AND (l) (the "DISPOSITION PROCEEDS"); PROVIDED that any prepayment required pursuant to this SECTION 2.05(d)(i) with respect to any Disposition Proceeds of less than $5,000,000 (any such amounts, the "DEFERRED PROCEEDS") may be deferred until such time as the aggregate amount of all such Deferred Proceeds that have not previously been reinvested or applied to prepay Revolving Credit Loans equals or exceeds $5,000,000, PROVIDED, FURTHER, if the Borrower shall deliver to the Administrative Agent an officer's certificate to the effect that the Borrower and the Subsidiaries intend to apply Disposition Proceeds within 180 days after receipt of such Disposition Proceeds, to make Permitted Acquisitions or to acquire real property, equipment or other assets to be used in the business of the Borrower and the Subsidiaries, and certifying that no Default or Event of Default has occurred and is continuing, then no prepayment shall be required pursuant to this paragraph in respect of such event except to the extent that any Disposition Proceeds have not been so applied at the end of such 180-day period, at which time a prepayment shall be required in an amount equal to such Disposition Proceeds that have not been so applied. Notwithstanding any of the foregoing to the contrary, upon and during the continuance of a Default under SECTION 10.1(a) and upon notice from the Administrative Agent, all Disposition Proceeds received by any Loan Party shall be applied to make prepayments of the Loans, such prepayments to be made within the later to occur of three (3) Business Days after the date of receipt of Disposition Proceeds of any such transaction and the occurrence of any such Default.
Mandatory Prepayments of Revolving Credit Loans. (i) Concurrently with the receipt by the Borrower or any Subsidiary of any Specified Revolver Proceeds, the Borrower shall prepay Revolving Credit Loans by an amount (rounded down, if necessary, to an integral multiple of $500,000) equal to the aggregate amount of all Specified Revolver Proceeds received on or after the Closing Date (including such Specified Revolver Proceeds) minus all Specified Revolver Proceeds previously applied to prepay Revolving Credit Loans pursuant to this clause (c). ----------
Mandatory Prepayments of Revolving Credit Loans. The Borrower shall immediately prepay the Revolving Credit Notes held by the Lenders to the extent that the aggregate outstanding principal amount thereof on any day shall exceed the amount of the Total Revolving Credit Loan Commitment in effect on such day; provided that if the Total Revolving Credit Loan Commitment is terminated in full, then the Borrower shall immediately prepay in full the aggregate outstanding principal amount of all Revolving Credit Notes. Amounts so repaid may not be reborrowed.
Mandatory Prepayments of Revolving Credit Loans. Section 2.5(a) of the Agreement is amended by deleting Section 2.5(a) in its entirety and substituting, in lieu thereof, the following Section 2.5(a):
Mandatory Prepayments of Revolving Credit Loans. Relating to Termination of the Commitments and Reductions of the Aggregate Commitment Amount. Upon the termination of the Parent Commitments of all of the Lenders, Parent shall prepay the outstanding principal balance of all Revolving Credit Loans and deposit into the Cash Collateral Account an amount which would cause the balance on deposit in the Cash Collateral Account to equal or exceed an amount equal to the Letter of Credit Exposure of all Lenders. Upon each reduction of the Aggregate Parent Commitment Amount, if the Aggregate Parent Credit Exposure would exceed the Aggregate Parent Commitment Amount as so reduced, Parent shall (unless the Aggregate Parent Credit Exposure would not exceed the Aggregate Parent Commitment Amount as so reduced) either (A) prepay the applicable Revolving Credit Loans, or (B) make a deposit into the Cash Collateral Account, or both, so that the Aggregate Parent Commitment Amount as so reduced plus the balance on deposit in the Cash Collateral Account would exceed the Aggregate Parent Credit Exposure. To the extent any mandatory reduction of the Aggregate GP Canada Credit Exposure is required pursuant to Section 2.4, subject to Section 2.2(c), such reduction shall be effected pursuant to a mandatory prepayment of the Term Loans in an amount equal to the amount of such reduction.
