Mandatory Prepayments (U Sample Clauses

Mandatory Prepayments (U. S.). ---------------------------- (i) If the aggregate outstanding amount of U.S. Tranche A Advances plus the Letter of Credit Exposure ever exceeds the U.S. Borrowing Base, the U.S. Borrower shall after receipt of written notice from the U.S. Administrative Agent, take one of the following actions to remedy the U.S. Borrowing Base deficiency: (1) prepay U.S. Tranche A Advances or, if the U.S. Tranche A Advances have been repaid in full, make deposits into the U.S. Cash Collateral Account to provide cash collateral for the Letter of Credit Exposure, such that the U.S. Borrowing Base deficiency is cured within 10 days after the date such notice is received; (2) pledge as Collateral for the Obligations additional Oil and Gas Properties acceptable to the U.S. Administrative Agent and each of Banks such that the U.S. Borrowing Base deficiency is cured within 30 days after the date such notice is received; or (3) prepay the U.S. Tranche A Advances or, if the U.S. Tranche A Advances have been repaid in full, make deposits into the U.S. Cash Collateral Account to provide cash collateral for the Letter of Credit Exposure in six monthly installments equal to one-sixth of such U.S. Borrowing Base deficiency with the first such installment due 30 days after the date such notice is received and each following installment due 30 days after the preceding installment. Each prepayment pursuant to this Section 2.12(a) shall be accompanied by accrued interest on the amount prepaid to the date of such prepayment and amounts, if any, required to be paid pursuant to Section 9.04 as a result of such prepayment being made on such date. Each prepayment under clauses (i) and (iii) of this Section 2.12(a) shall be applied to the U.S. Tranche A Advances as determined by the U.S. Administrative Agent and agreed to by the U.S. Banks having a U.S. Tranche A Commitment as appropriate to minimize payments required to be made pursuant to Section 9.04 and otherwise in their sole discretion.