Mandatory Prepayments of Term Loans. (a) Upon the consummation of any Asset Sale or any Financing by the Borrower or any Subsidiary of the Borrower, other than those Asset Sales permitted pursuant to Section 7.3(B)(i) except to the extent that the Net Cash Proceeds of such Asset Sale, when combined with the Net Cash Proceeds of all such Asset Sales during the immediately preceding twelve-month period, do not exceed $1,000,000, and except as provided in the second sentence of this Section 2.5(B)(i)(a), within three (3) Business Days after the Borrower's or any of its Subsidiaries' (i) receipt of any Net Cash Proceeds from any such Asset Sale or Financing, or (ii) conversion to cash or Cash Equivalents of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements or lease payments) received from any Asset Sale, the Borrower shall make a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds or such proceeds converted from non-cash to cash or Cash Equivalents. Net Cash Proceeds of Asset Sales of capital assets with respect to which the Borrower shall have given the Agent written notice of its intention to replace such capital assets within nine months following such Asset Sale shall not be subject to the provisions of the first sentence of this Section 2.5(B)(i)(a) unless and to the extent that such applicable period shall have expired without such replacement having been made.
Mandatory Prepayments of Term Loans. (i) If any Indebtedness shall be incurred by the Borrower or any of its Subsidiaries (excluding any Indebtedness incurred in accordance with Section 7.01), an amount equal to 100% of the Net Cash Proceeds thereof shall be applied within five Business Days of the receipt of such Net Cash Proceeds toward the prepayment of the Term Loans as set forth in Section 2.12(c)(iii).
Mandatory Prepayments of Term Loans. (a) Within one-hundred and eighty (180) days after the Borrower's or any Restricted Subsidiary's receipt of any Net Cash Proceeds from any Asset Sale (other than Excluded Asset Sales) which when aggregated with the Net Cash Proceeds from other Asset Sales (other than Excluded Asset Sales) consummated during the preceding twelve-month period are greater than $500,000, the Borrower shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds in excess of $500,000 for such twelve-month period; provided, however, that the Net Cash Proceeds which the Borrower or such Restricted Subsidiary shall, within one-hundred and eighty (180) days of the receipt thereof, use to acquire assets of a like nature to those sold in such Asset Sale in replacement thereof shall not be included in determining the Net Cash Proceeds for such Fiscal Year. Notwithstanding the foregoing, during the existence of a Default, if the Borrower or any Subsidiary shall consummate any Asset Sale (other than an Excluded Asset Sale) in which the sale price exceeds $100,000, or shall not have so reinvested proceeds of any such Asset Sale consummated prior to the occurrence of such a Default, then the Borrower shall immediately make or cause to be made a mandatory prepayment in an amount equal to 100% of such Net Cash Proceeds.
Mandatory Prepayments of Term Loans. (a) Prior to the Tranche A Term Loan Repayment Date, except as set forth in the immediately succeeding sentence with respect to the incurrence of Permitted Subordinated Indebtedness, an amount equal to 100% of the Net Cash Proceeds of any incurrence of Indebtedness of any Loan Party (excluding any Indebtedness permitted to be incurred under Section 6.02) shall be applied to the prepayment of the Tranche B Term Loans as set forth in Section 2.16(e) on the date of such incurrence. Prior to the Tranche A Term Loan Repayment Date, an amount equal to 100% of the Net Cash Proceeds of any incurrence of Permitted Subordinated Indebtedness (including Permitted Designated Subordinated Indebtedness) of any Loan Party shall be applied to the prepayment of the Tranche B Term Loans as set forth in Section 2.16(e) on the 121st day (the “Payment Date”) after the date of such incurrence (as such date may be extended pursuant to the proviso set forth at the end of this sentence) to the extent such Net Cash Proceeds are (i) not from the issuance of Permitted Designated Subordinated Indebtedness and (ii) not used prior to such 121st day to make (u) a Capital Expenditure, (v) a Restricted Payment, (w) a Board-Approved Investment or a Proceeds Investment (in either case so long as the Borrower shall have complied with the provisions of Section 5.09, to the extent applicable, with respect to any assets acquired by any Group Member pursuant to such Board-Approved Investment or Proceeds Investment, as the case may be), (x) a Permitted Acquisition (so long as the Borrower shall have complied with the provisions of Section 5.09, to the extent applicable, with respect to any assets acquired by any Group Member pursuant to such Permitted Acquisition), (y) Permitted Open Market Purchases or (z) a repayment of the Tranche A Term Loans; provided that if on such 121st day a Board-Approved Investment, a Proceeds Investment, a Permitted Acquisition or Permitted Open Market Purchases shall not have been consummated but one or more Group Members shall have entered into a binding letter of intent or definitive purchase documentation with respect thereto (or, with respect to Permitted Open Market Purchases, shall have made a binding offer, subject to the conditions set forth therein), then the Payment Date shall be extended to the 181st day after such incurrence, and on such day the relevant Net Cash Proceeds shall be applied to the prepayment of the Tranche B Term Loans as specified above to t...
Mandatory Prepayments of Term Loans. In the event and on each occasion that the aggregate principal amount of outstanding Term Loans exceeds the Aggregate Commitment Amount then in effect, then the Borrower shall promptly prepay Term 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 Term 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 2.11, the Borrower shall make such prepayment no later than the second Business Day following such notice. Any mandatory prepayment of Term Loans pursuant hereto shall not be limited by the notice provision for prepayments set forth in Section 2.10. Each such prepayment shall be accompanied by a payment of all accrued and unpaid interest on the Term Loans prepaid and any applicable breakage fees and funding losses pursuant to Section 2.12.
Mandatory Prepayments of Term Loans. (i) On or prior to the earlier of (A) the fifth (5th) day after the delivery of annual financial statements for a fiscal year in accordance with Section 5.01(a) or (B) the ninety-fifth (95th) day of each fiscal year, commencing with the fiscal year ending December 31, 2019, the Borrower shall prepay the Loans in an amount equal to (x) fifty percent (50%) of Excess Cash Flow (if any) for such fiscal year less (y) all voluntary prepayments of Term Loans (not made in lieu of mandatory prepayments) made during such fiscal year pursuant to Section 2.25 and all repayments and prepayments of the loans under the Revolving Credit Agreement made during such fiscal year to the extent accompanied by a corresponding permanent reduction in commitments under the Revolving Credit Agreement, to be applied as set forth in Section 2.26(b); provided, that if, with respect to any fiscal year in which a mandatory prepayment pursuant to this Section 2.26(a)(i) is otherwise due, the Total Net Leverage Ratio as of the end of such fiscal year is less than (A) 3.50:1.00, then the Borrower shall prepay the Loans in an amount equal to (x) twenty-five percent (25%) of Excess Cash Flow (if any) for such fiscal year less (y) all voluntary prepayments of Term Loans (not made in lieu of mandatory prepayments) made during such fiscal year pursuant to Section 2.25 and all repayments and prepayments of the loans under the Revolving Credit Agreement made during such fiscal year to the extent accompanied by a corresponding permanent reduction in commitments under the Revolving Credit Agreement, to be applied as set forth in Section 2.26(b) or (B) 2.50:1.00, then the Borrower shall prepay the Loans in an amount equal to zero (0%) of Excess Cash Flow (if any) for such fiscal year.
Mandatory Prepayments of Term Loans. Upon the receipt by any Borrower of (1) the proceeds from any sale of United States domestic Receivables or (2) the proceeds from the incurrence of any single issue of Indebtedness in excess of $50,000,000 which is not permitted by Section 7.3(D)(i)-(vi) hereof, the Company shall immediately make a mandatory prepayment of the Term Loans in an amount equal to such proceeds (applying the same first to accrued and unpaid interest and then to principal).
Mandatory Prepayments of Term Loans. If at any time (a) no Revolving Credit Loans are then outstanding and any event requiring mandatory repayment specified in Section 2.3(c) shall occur or (b) any amounts remain after any repayment of Revolving Credit Loans pursuant to Section 2.3(c), then such amount not required to repay the Revolving Credit Loans will be used to reduce on a pro rata basis the remaining scheduled principal installments of the Term Loans and shall be accompanied by any amount required under Section 4.9.
Mandatory Prepayments of Term Loans. (a) Upon the consummation of any Asset Sale or any Financing by the 35 Borrower or any Subsidiary of the Borrower (other than in connection with consummation of an "Excluded Transaction" (as defined below)), within seven (7) Business Days after the Borrower's or any of its Subsidiaries' (i) receipt of any Net Cash Proceeds from any such Asset Sale or Financing, or (ii) conversion to cash or Cash Equivalents of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements or lease payments) received from any such Asset Sale or Financing, the Borrower shall make a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds or such proceeds converted from non-cash to cash or Cash Equivalents. For purposes of this Section, "Excluded Transaction" shall mean:
Mandatory Prepayments of Term Loans. (i) Concurrently with the receipt by the Borrower or any Subsidiary of any Specified Term Proceeds, the Borrower shall make a prepayment of principal of the Term Loans by an amount (rounded down, if necessary, to an integral multiple of $500,000) equal to the aggregate amount of all Specified Term Proceeds received on or after the Closing Date (including such Specified Term Proceeds) minus all Specified Term Proceeds previously applied to prepay Term Loans pursuant to this clause (b). ----------
