Mandatory Prepayments of Revolving Loans. (i) If at any time and for any reason (other than fluctuations in currency exchange rates) the Dollar Amount of the Revolving Credit Obligations are greater than the Aggregate Revolving Loan Commitment, the Borrower shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess.
(ii) If at any time:
Mandatory Prepayments of Revolving Loans. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrowers 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 Borrowers 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. The Administrative Agent, acting reasonably, may, at any time and from time to time after the initial deposit of such Cash Collateral, request that additional Cash Collateral be provided in order to protect against the results of further exchange rate fluctuations. If the Administrative Agent notifies the Company at any time that the Outstanding Amount of all Loans denominated in Alternative Currencies plus aggregate Outstanding Amount of the L/C Obligations denominated in an Alternative Currency at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two Business Days after receipt of such notice, the Company shall prepay 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 Alternative Currency Sublimit then in effect. If the Administrative Agent notifies the Company at any time that the Outstanding Amount of all Loans made to the Foreign Borrowers plus all L/C Obligations of the Foreign Borrowers at such time exceeds an amount equal to 105% of the Foreign Borrower Sublimit then in effect, then, within two Business Days after receipt of such notice, the Company shall prepay 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 Foreign Borrower Sublimit then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied to Revolving Loans and Swing Line Loans and (after all Revolving Loans and all Swing Line Loans have been repaid) to Cash Collateralize 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 (beginning with the earliest maturity). All prepay...
Mandatory Prepayments of Revolving 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 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 Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect.
Mandatory Prepayments of Revolving Loans. In the event that on any Calculation Date, the aggregate amount of Revolving Loans and Letter of Credit Liabilities outstanding under the Revolving Commitments of any Class exceeds the aggregate amount of the Revolving Commitments of such Class then in effect, the applicable Borrowers shall, within five Business Days of receipt of notice from the Administrative Agent, prepay the Revolving Loans and/or reduce the Letter of Credit Liabilities in an aggregate amount sufficient to reduce such outstanding amount as of the date of such payment to an amount not to exceed the Revolving Commitments of such Class then in effect by taking either or both of the following actions: (i) prepaying Revolving Loans or (ii) with respect to any excess Letter of Credit Liabilities, cash collateralizing, “backstopping” or replacing the relevant Letters of Credit, in each case, in an amount equal to 100% of such excess Letter of Credit Liabilities (minus any amount then on deposit in any Collateral Account).
Mandatory Prepayments of Revolving Loans. In addition to repayments under Section 2.5(B)(i)(e)(II), if the Revolving Credit Obligations are greater than the Maximum Revolving Credit Amount, the Borrower shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess. In addition, if the Revolving Credit Availability is at any time less than the amount of contingent L/C Obligations outstanding at any time, the Borrower shall deposit cash collateral with the Agent in an amount equal to the amount by which such L/C Obligations exceed such Revolving Credit Availability.
Mandatory Prepayments of Revolving Loans. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrowers shall promptly 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 Borrowers 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. In addition, the Borrowers shall promptly prepay Revolving Loans and/or Swing Line Loans (or, at the Borrowers’ option, any term loans outstanding at such time) with Net Cash Proceeds as provided in Section 8.05(c) (it being agreed that any such prepayment shall be permitted to be deferred to correspond with the expiration of a then-in-effect Interest Period to avoid the incurrence of breakage costs and other penalties as a result thereof). Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to BSBY 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 Revolving Loans. (i) Immediately, if at any time the Credit Facility Outstandings under any Credit Facility, the Euro Subfacility or the Sterling Subfacility are greater than the Maximum Credit Amount for such Credit Facility, the Euro Subfacility or the Sterling Subfacility, as applicable, the applicable Borrower or Borrowers shall make a mandatory repayment of such Credit Facility Outstandings in an aggregate amount sufficient to reduce any such excess to zero, such amounts to be applied to the Obligations of the Borrower or Borrowers making such payments in accordance with SECTION 3.02. In addition, if at any time the Maximum Credit Amount for any Credit Facility is less than the amount of contingent Letter of Credit Obligations outstanding under such Credit Facility at such time, the applicable Borrower or Borrowers agree to deposit and maintain Cash Collateral in the applicable Cash Collateral Account in a Dollar Equivalent amount equal to the amount by which such Letter of Credit Obligations exceed such Maximum Credit Amount.
(ii) Subject to SECTION 3.06, prior to 1:00 p.m. (New York time), with respect to payments under the Domestic Facility, and 4:00 p.m. (London time), with respect to payments under the Multicurrency Facility, on each Business Day, from funds on deposit in (A) (x) the Domestic Concentration Account and (y) if necessary to repay in full all Credit Facility Outstandings under the Domestic Facility, the Domestic Cash Collateral Account, and (B) (x) the Multicurrency Concentration Accounts and (y) if necessary to repay in full all Credit Facility Outstandings under the Multicurrency Facility, the Multicurrency Cash Collateral Accounts, the Administrative Agent shall transfer funds in accordance with SECTION 3.06 and thereby cause (1) the Domestic Borrowers (in the case of CLAUSE (A) above) to make a mandatory repayment of the Credit Facility Outstandings owing by such Domestic Borrowers on such Business Day in an amount equal to: FIRST, any and all Non Pro Rata Fundings made to such Borrowers on a pro rata basis, SECOND, any and all outstanding Protective Advances made on behalf of such Borrowers, THIRD, any and all outstanding Swing Loans made to such Borrowers, FOURTH, any and all outstanding Revolving Loans made to such Borrowers, and FIFTH, the repayment of the Credit Facility Outstandings and other Obligations owing by such Borrowers then outstanding, in each case in accordance with the applicable provisions of SECTION 3.02, and (2) the Multicurr...
Mandatory Prepayments of Revolving Loans. In addition to repayments under Section 2.5(B)(i)(e)(2), if at any time and for any reason the amount of the Revolving Credit Obligations are greater than the Maximum Revolving Credit Amount, the Borrower shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess.
Mandatory Prepayments of Revolving Loans. In addition to repayments under Section 2.5(B)(i)(e)(II), if at any time and for any reason (A) the Revolving Credit Obligations are greater than the Aggregate Revolving Loan Commitment or (B) the Revolving Credit Obligations (other than L/C Obligations in respect of commercial Letters of Credit) are greater than the Borrowing Base, the Borrower shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess.
Mandatory Prepayments of Revolving Loans. (i) If at any time and for any reason (other than fluctuations in currency exchange rates) the Dollar Amount of the Revolving Credit Obligations are greater than the Aggregate Revolving Loan Commitment, the Borrowers shall immediately make a mandatory prepayment of the Obligations in an amount equal to such excess.
(ii) If at any time the Dollar Amount of the Revolving Credit Obligations exceeds one hundred five percent (105%) of the Aggregate Revolving Loan Commitment, whether as a result of fluctuations in currency exchange rates, or otherwise, the Borrowers for the ratable benefit of the Lenders shall immediately prepay Loans in an aggregate amount such that after giving effect thereto the Dollar Amount of the Revolving Credit Obligations is less than or equal to the Aggregate Revolving Loan Commitments.
