Mandatory Prepayments/Offers to Prepay. (1) Unless a Mandatory Prepayment Suspension is in effect, an amount equal to the Net Proceeds from any Disposition of any Assets (other than Permitted Dispositions, unless such Permitted Disposition is made under clause (iv) of the definition thereof) in excess of U.S. $100,000,000 (or the equivalent amount in any other currency) in the aggregate in each Financial Year (whether individually or in the aggregate) by any Loan Party shall be applied within 10 Business Days of receipt thereof, to the prepayment of Accommodations Outstanding under the Term Loan Facility in accordance with Section 2.09 hereof; provided that if, for any Financial Year, the threshold amount specified above exceeds the aggregate amount of applicable Dispositions made by Open Text and its Subsidiaries, as determined on a consolidated basis during such Financial Year, the threshold amount set forth above for the succeeding Financial Year shall be increased by 50% of such excess amount; provided, further, that if notice of the Borrower’s intention to reinvest such Net Proceeds in the Business of the Loan Parties within 365 days of receipt thereof is delivered to the Administrative Agent within 10 Business Days of receipt thereof, such Net Proceeds shall not be applied to prepayment of the Accommodations Outstanding as set forth in this Section 2.05(1); provided, further, that if, after delivery of such notice of intention to reinvest such Net Proceeds any such Net Proceeds are (i) no longer intended to be so reinvested or (ii) such Net Proceeds are not so reinvested in the Business of the Loan Parties within 365 days of receipt thereof, then an amount equal to any such Net Proceeds shall be immediately applied to the prepayment of the Accommodations Outstanding under the Term Loan Facility as set forth in this Section 2.05(1); provided, however, that if, during such 365-day period, the Borrower has entered into a binding commitment to reinvest such Net Proceeds, the Borrower shall have an additional 180 days from the end of such 365-day period to reinvest such Net Proceeds.
Mandatory Prepayments/Offers to Prepay. (1) If, as of the last day of each month or, if an Event of Default has occurred and is continuing, on any day, the Accommodations Outstanding under a Revolving Credit Facility exceed 103% of the applicable Revolving Credit Commitment by reason of exchange rate fluctuations or otherwise, the applicable Revolving Credit Borrower or Revolving Credit Borrowers shall, on the third Business Day following such day repay Floating Rate Advances or LIBOR Advances in the manner set forth in Section 2.07(1) (but without regard to the minimum amounts specified therein), as the case may be, such that the Accommodations Outstanding under such Revolving Credit Facility, after giving effect thereto, do not exceed the Commitment thereunder.
Mandatory Prepayments/Offers to Prepay. (a) Prepayment in Connection with Debt Issuances. If on any date the Borrower shall receive Net Cash Proceeds from any issuances of notes or bonds (other than any issuance of Permitted Refinancing Indebtedness) issued (i) on a private placement basis pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended or (ii) pursuant to a registered offering under Section 144A of the Securities Act of 1933, as amended, then an amount equal to 100% of such Net Cash Proceeds shall be applied on such date toward the prepayment of the Term Loans.
Mandatory Prepayments/Offers to Prepay. (a) If any Credit Party shall receive Net Cash Proceeds from any Asset Sale or Recovery Event, but only if and to the extent that the aggregate of all Net Cash Proceeds received by all Credit Parties during any period of twelve (12) consecutive months exceeds $2,500,000, then, unless a Reinvestment Notice shall be delivered in respect thereof, such Net Cash Proceeds shall be applied within three (3) Business Days of such date toward the prepayment of the Loans as set forth in Section 2.4(c); provided that to the extent that any property disposed pursuant to such Asset Sale or to which a Recovery Event relates constitutes First Lien Collateral, only any amount of the Net Cash Proceeds remaining after giving effect to the mandatory prepayments, if any, under the Credit Facilities shall be required to be applied toward the prepayment of the Loans pursuant to this Section 2.4; provided further, that, notwithstanding the foregoing, if a Reinvestment Notice has been delivered as provided above, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of the Loans as set forth in Section 2.4(c).
Mandatory Prepayments/Offers to Prepay
