Mandatory Prepayments of the Term Loans Sample Clauses
Mandatory Prepayments of the Term Loans. The Borrower shall prepay the entire unpaid principal balance of the Term Loans, and all accrued but unpaid interest thereon, on the Termination Date. The Borrower shall use proceeds of the Senior Replacement Notes in excess of those used by the Borrower to redeem or otherwise acquire in full the Senior Subordinated Notes to prepay the Term Loans in full. Amounts prepaid in respect of the Term Loans pursuant to this Section 4.5 may not be reborrowed.
(a) On the tenth day following the date of receipt thereof by Parent or any of its Subsidiaries of the cash proceeds from any sale or other disposition of assets consummated on or after June 15, 2000 (other than (i) sales of inventory in the ordinary course of business, (ii) the sale by the Borrower on June 15, 2000 of Equipment pursuant to the Secured Sale/Leaseback Documents, (iii) sales or other dispositions of Credit Agreement Term Loan Equipment Collateral or Equipment constituting Excluded Sale/Leaseback Assets (other than any such Equipment which, pursuant to the proviso in Section 6.1(a)(v), no longer constitutes Collateral and secures the payment of the Senior Replacement Notes), in each instance, permitted by Section 6.11(c) to the extent the net after tax proceeds thereof are, within 270 days after the consummation of the relevant sale or other disposition, used by the Borrower to purchase replacement Equipment constituting Credit Agreement Term Loan Equipment Collateral or Excluded Sale/Leaseback Assets, as the case may be, which shall be subject to a first priority perfected Lien in favor of the Agent and for which the other requirements set forth in Section 6.11(c) and the requirements of the remaining sentences of this Section 4.5(b) have been satisfied, (iv) sales or other dispositions of Secured Sale/Leaseback Collateral permitted hereunder to the extent the proceeds thereof are, within 180 days after the consummation of the relevant sale or other disposition, applied to the payment of the obligations of the Borrower under the Secured Sale/Leaseback Documents or the purchase of replacement Secured Sale/Leaseback Collateral and (v) sales or other dispositions of Equipment of the Borrower permitted hereunder which do not constitute Secured Sale/Leaseback Collateral and which, pursuant to Section 6.1(a)(v), no longer constitute Collateral and secure the payment of the Senior Replacement Notes, to the extent the proceeds thereof are, within 180 days after the consummation of the relevant sale or o...
Mandatory Prepayments of the Term Loans. Upon receipt of the proceeds of the sale or other disposition of any Equipment (other than obsolete equipment permitted to be sold pursuant to SECTION 7 hereof) or real property of an Obligor which is subject to a lien or mortgage in favor of Agent or Lender, or if any of the Equipment or real property subject to such lien or mortgage is damaged, destroyed or taken by condemnation in whole or in part, the proceeds thereof (other than insurance proceeds payable to an Obligor pursuant to SECTION 12(e) hereof) shall be paid by such Obligor to Agent as a mandatory prepayment of the Term Loans to be applied against the outstanding principal balance of the Term Loans in such order as Agent in its sole discretion determines.
Mandatory Prepayments of the Term Loans. (a) On the first day of the fourth month after the end of each Fiscal Year, the Borrower shall make a prepayment of the principal of the Loans in an amount equal to 50% of Excess Cash Flow for such Fiscal Year. Such prepayment shall be applied first, to the outstanding principal amount of the Term Loan, in inverse order of maturity, until paid in full, and second, pro rata to the outstanding principal amount of the CAPEX Loans, in inverse order of maturity, until paid in full.
(b) On the first Business Day of each calendar month occurring prior to the Termination Date, the Borrower shall make a payment of the principal of the CAPEX Loan in an amount equal to the amount provided in each CAPEX Loan Note.
(c) On the first Business Day of each calendar month occurring on and after May 1, 1998 and prior to the Termination Date, the Borrower shall make a payment of the principal of the Term Loan in an amount equal to $786,000.
(d) The Borrower shall pay the entire unpaid principal balance of the Loans upon the Termination Date.
(e) The Borrower shall pay the entire unpaid principal balance of the Loans upon the Termination Date under, and as defined in, the Loan and Security Agreement.
(f) Any payment under this Section 4.5 shall be accompanied by the payment of all accrued but unpaid interest thereon. Any payment under this Section 4.5 of less than all of the outstanding principal amount of the Loans shall be applied, based upon the Pro Rata Shares of the Lenders, to the installments of principal of the Loans in the inverse order of maturity. In connection with any such payment, if any LIBOR Rate Loans are prepaid prior to the expiration date of the Interest Period applicable thereto, the Borrower shall pay to the Lenders the amounts described in Section 5.4.
Mandatory Prepayments of the Term Loans. The Borrowers shall prepay the entire unpaid principal balance of the Term Loans, and all accrued but unpaid interest thereon, on the Termination Date. In connection with any such prepayment, if any LIBOR Term Loans are prepaid prior to the expiration date of the Interest Period applicable thereto, the Borrowers shall pay to the Lenders the amounts described in SECTION 5.4.
Mandatory Prepayments of the Term Loans. Prepayments on the Term Loans shall be required to be made as provided in Sections 5.11(c), 8.5(c), 8.6(b) and 8.9(b). In addition, after the Additional Facility has been reduced to zero, (1) if any amounts are received with respect to items (a), (b), or (f) on Exhibit D, then 50% of such amounts shall be applied to the prepayment of the Term Loans, applying such amounts ratably to the installments of the Term Loans in the inverse order of maturity, and (2) if any Net Proceeds of the Electrode Settlement are received such that the amount of all Net Proceeds of the Electrode Settlement at such time is in excess of $2,500,000, then 100% of such excess Net Proceeds shall be applied to the prepayment of the Term Loans, applying such amounts ratably to the installments of the Term Loans in the inverse order of maturity.
(f) Section 8.22 is amended and restated as follows:
Mandatory Prepayments of the Term Loans. (a) The Borrower shall prepay the entire unpaid principal balance of the Term Loans, and all accrued but unpaid interest thereon, upon the termination of this Agreement for any reason.
(b) Any prepayment under this Section 4.5 of less than all of the outstanding principal amount of the Term Loans shall be applied, based upon the Pro Rata Shares of the Lenders, to the installments of principal of the Term Loans in the inverse order of maturity. Amounts prepaid in respect of the Term Loans pursuant to this Section 4.5 may not be reborrowed. In connection with any such prepayment, if any LIBOR Term Loans are prepaid prior to the expiration date of the Interest Period applicable thereto, the Borrower shall pay to the Lenders the amounts described in Section 5.4.
Mandatory Prepayments of the Term Loans. (a) Within five Business Days of any Permitted Asset Disposition, Borrower shall prepay the Term Loans with the Net Available Cash of such Permitted Asset Disposition; provided, that such Net Available Cash shall not be required to be so applied on such date to the extent that such proceeds are used to acquire Property useful in the business of the Obligors within 180 days of receipt of such Net Available Cash (or a binding commitment to acquire such Property is entered into within 180 days and such reinvestment is actually made within 360 days), and to the extent the Net Available Cash exceeds $500,000, Borrower shall have delivered to Agent an Officer’s Certificate within five Business Days of such Permitted Asset Disposition stating such intent. Borrower shall prepay the Term Loans in the amount of any Net Available Cash not actually reinvested within such 180 (or 360) day period. Notwithstanding the foregoing, (i) Borrower shall prepay the Term Loans with any Net Available Cash, and shall not be permitted to reinvest such Net Available Cash at any time when any Default or Event of Default exists, and (ii) any Property acquired with such Net Available Cash shall be free of Liens, other than Permitted Liens.
(b) Within five Business Days of the receipt of any proceeds of insurance or condemnation awards paid in respect of any Equipment or Real Estate with the Net Available Cash of such award, Borrower shall prepay the Term Loans (according to the ownership of such Equipment or Real Estate); provided, that such Net Available Cash shall not be required to be so applied on such date to the extent that Borrower shall have delivered an Officer’s Certificate to Agent on or prior to such date stating that such proceeds shall actually be used to acquire Property useful in the business of the Obligors within 180 days of receipt of such Net Available Cash (or a binding commitment to acquire such Property is entered into within 180 days and such reinvestment is actually made within 360 days), provided further, that (i) no Default or Event of Default exists, (ii) the replaced Property is free of Liens, other than Permitted Liens; and (iii) the aggregate amount of such proceeds or awards from any single casualty or condemnation does not exceed $1,000,000. Borrower shall prepay the Term Loans in the amount of any Net Available Cash not actually reinvested within such 180 (or 360) day period.
(c) Any such prepayment pursuant to this Section 2.11 shall be in the amount ...
Mandatory Prepayments of the Term Loans. Prepayments on the Term Loans shall be required to be made as provided in Sections 5.11(c), 8.5(c), 8.6(b) and 8.9(b). In addition, after the Additional Facility has been reduced to zero, and if any amounts are received with respect to items (a), (b), or (f) on Exhibit D, then 50% of such amounts shall be applied to the prepayment of the Term Loans, applying such amounts ratably to the installments of the Term Loans in the inverse order of maturity.
Mandatory Prepayments of the Term Loans. Concurrently with the receipt by the Company or any Subsidiary of any Applicable Term Proceeds, the Company shall prepay Term Loans by an amount equal to the excess of all such Applicable Term Proceeds received since the First Amendment Effective Date over all prepayments of the Term Loans made pursuant to this Section 6.2.3 since the First Amendment Effective Date (rounded down, if necessary, to an integral multiple of $500,000).
Mandatory Prepayments of the Term Loans. 8. Method of Selecting Types and Interest Periods for New Advances....................................28 2.9. Conversion and Continuation of Outstanding Advances..28 2.10. Changes in Interest Rate, etc........................29 2.11.