Mandatory Principal Payments. (a) On any day on which the aggregate outstanding principal of the Loans exceeds the Borrowing Base (as determined pursuant to Section 1.4), the Company shall immediately repay Loans in the amount of such excess or pledge to the Collateral Agent, for the benefit of the Banks, additional Collateral in the Collateral Pool under the Collateral Documents as necessary to cure such deficiency, without the necessity of any notice or demand.
(b) [Reserved].
(c) On any day on which the aggregate outstanding principal of the Loans, taken together, exceeds the Aggregate Commitments, the Company shall repay Loans in the amount of such excess without the necessity of any notice or demand.
(d) On any Revaluation Date which is a Business Day on which the U.S. Dollar Equivalent of the aggregate outstanding principal amount of Loans under any Applicable Tranche exceeds the Aggregate Applicable Tranche Commitments then in effect, then, the Company shall repay Revolving Loans under such Applicable Tranche and/or Swingline Loans under such Applicable Tranche, as the Company shall select, in the amount of such excess by (i) 5:45 p.m. (New York City time) on the Business Day the Company receives written notice of such excess from the Administrative Agent (the “Excess Notice Date”) if the Company receives notice from the Administrative Agent by 2:00 p.m. (New York City time) on such Excess Notice Date or (ii) on the next Business Day, prior to 11:00 a.m. (New York City time) after the Company receives notice of such excess if the Company receives notices from the Administrative Agent after 2:00 p.m. (New York City time) on such Excess Notice Date.
(e) On any Business Day after giving effect to any requested Loan, or on any Business Day when Loans are outstanding, on which the Borrowing Base is less than the sum of (i) 100% of the aggregate principal amount of outstanding Loans denominated in U.S. Dollars as of such day and (ii) 105% of the U.S. Dollar Equivalent of the aggregate principal amount of outstanding Loans denominated in Alternative Currencies as of such day, then, the Company shall, upon written notice from the Administrative Agent, pledge additional Collateral or prepay Loans in any Applicable Tranche at the option of the Company (or do any combination of the foregoing) as necessary to cure such deficiency (or in the event of any such requested Loan, instruct the Administrative Agent to return the proceeds of the requested Loan to the applicable Banks or, in the even...
Mandatory Principal Payments. (a) On any day on which the aggregate outstanding principal of the Clearing Fund Pool Loans for any applicable Clearing Business exceeds the Clearing Fund Borrowing Base therefor (as determined pursuant to Section 10.8 after giving effect to any redesignation pursuant to Section 2.13), the Company shall immediately repay such excess or pledge to the Collateral Agent, for the benefit of the Banks, additional Collateral in the applicable Clearing Fund Collateral Pool under the Collateral Documents as necessary to cure such deficiency, without the necessity of any notice or demand.
(b) On any day on which the aggregate outstanding principal of the Company Pool Loans exceeds the Company Borrowing Base (as determined pursuant to Section 10.8 after giving effect to any redesignation pursuant to Section 2.13), the Company shall immediately repay such excess or pledge to the Collateral Agent, for the benefit of the Banks, additional Collateral in the Company Collateral Pool under the Collateral Documents as necessary to cure such deficiency, without the necessity of any notice or demand.
(c) On any day on which the aggregate outstanding principal of the Clearing Fund Pool Loans and the Company Pool Loans, taken together, exceeds the Aggregate Commitment, the Company shall repay such excess without the necessity of any notice or demand. Repayment of any such excess amount shall be applied first, to prepay outstanding Swingline Loans, and second, to prepay outstanding Revolving Loans (in accordance with the applicable Collateral Pools), in each case in the direct order of their respective maturities (or, in the event that any such repayment is not sufficient to repay such excess amount in full, first, to prepay outstanding Swingline Loans pro rata, and second, to prepay outstanding Revolving Loans pro rata) and shall be accompanied by accrued and unpaid interest thereon.
Mandatory Principal Payments. On any day on which the aggregate outstanding principal of the Loans exceeds the Borrowing Base or the Aggregate Commitment, such excess shall be immediately due and payable without the necessity of any notice or demand. Repayment of such excess amounts shall be applied to prepay the outstanding Loans, pro rata, and shall be accompanied by accrued and unpaid interest thereon.
Mandatory Principal Payments. If, on any day, the Total Outstandings exceed the Maximum Loan Amount, then the Borrower shall make a principal payment to Administrative Agent in the amount of such excess, in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); with such payment being applied to the principal balances due hereunder is such fashion as the Borrower may designate; provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.
Mandatory Principal Payments. The Borrower shall make the following mandatory prepayments on the Loans:
(a) On the date of receipt thereof, the Borrower shall apply towards the mandatory prepayment of the Loans in accordance with Section 5.04, 100% of the Net Available Amount of all proceeds in cash and cash equivalents (including any cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) to the Borrower or any other Loan Party from:
(i) without limitation to Article XI, the issuance or incurrence of any Indebtedness by any Relevant Party (other than as permitted to be incurred pursuant to Section 8.01 of this Agreement); [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.
(ii) all Loss Proceeds received in connection with any Event of Loss (other than Loss Proceeds in respect of any Project, which shall be applied in accordance with Section 5.03(b) below); and
(iii) the sale, assignment or other disposition of any Asset of a Relevant Party (other than (A) ordinary course sales of power or the leasing of a photovoltaic system pursuant to the Customer Agreements, (B) PBI Payments, (C) the sale of Excluded Property or (D) a sale or assignment of an Asset that is a Customer Prepayment Event).
(b) On each Payment Date, the Borrower shall apply towards the mandatory prepayment of the Loans in accordance with Section 5.04, an amount determined by multiplying [***] by the present value of the reduction of future Collections resulting from or attributable to each Customer Prepayment Event occurring during the calendar quarter ending on the immediately prior Calculation Date (disregarding any proceeds received in respect of such Customer Prepayment Event and assuming that no future Collections will be received in respect of any Event of Loss Project, Defaulted Project or a Project in respect of which an Ineligible Customer Reassignment has occurred) discounted at a rate of [***] per annum; provided that, notwithstanding anything to the contrary herein, the Sponsor may, but shall not be required to, contribute capital to the Borrower to satisfy its prepayment obligations under this clause Section 5.03(b).
(c) On each Payment Date during an Early Amortization Period, the Borrower shall apply towards the mandatory prepayment of the Loans in accordance with Section 5.04, 10...
Mandatory Principal Payments. (a) If, on any day, the Total Outstandings exceed the Maximum Loan Amount, or the Total Revolving Outstandings exceed the Total Revolving Commitments, then the Borrower shall make a principal payment to the Administrative Agent, for the ratable benefit of the Lenders, in the amount of such excess, including any amounts required to be paid under Section 2.3.15 in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.
(b) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date that is ten (10) Business Days after such Swing Line Loan is made and (ii) the Revolving Facility Maturity Date
Mandatory Principal Payments. (a) If, at any time, the Outstanding Balance shall exceed the Commitment Amount, Borrower shall, not later than 30 days after written notice thereof from BOTW: (1) pay the excess to BOTW in a lump sum; or (2) commence (and thereafter continue) an amortization schedule under which Borrower repays an amount at least equal to the excess in six equal monthly principal installments on the last Business Day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; or (3) execute and deliver to BOTW additional mortgages, supplements to mortgages or other instruments in form and substance reasonably satisfactory to BOTW, by which Borrower mortgages, pledges or hypothecates to BOTW, or creates a security interest in for the benefit of BOTW, sufficient additional Oil and Gas Interests to induce BOTW to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the Outstanding Balance.
(b) The outstanding principal balance of the Revolving Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than the Maturity Date (Revolving).
Mandatory Principal Payments. (a) If, at any time, for any reason, the aggregate outstanding principal balance of all Advances shall exceed the Commitment Amount in effect at that time, Borrower shall, not later than 30 days after written notice thereof from CNB:-
(1) pay the excess to CNB in a lump sum; and/or (2) execute and deliver to CNB additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance to CNB, by which Borrower mortgages, pledges or hypothecates to CNB, or creates a security interest in for the benefit of CNB, sufficient additional oil and gas interests to induce CNB to make a re-determination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the aggregate outstanding principal balance of all Advances. Upon any failure by Borrower to comply with its obligations under this Section 2.3(a) in a timely manner, an Event of Default shall be deemed to have occurred hereunder.
(b) If, at any time, for any reason, the aggregate outstanding principal balance of all Advances shall exceed one-half of the Borrowing Base in effect at that time, Borrower shall, not later than 30 days after written notice thereof from CNB:
(1) pay the excess to CNB in a lump sum; and/or (2) execute and deliver to CNB additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance to CNB, by which Borrower mortgages, pledges or hypothecates to CNB, or creates a security interest in for the benefit of CNB, sufficient additional oil and gas interests to induce CNB to make a re-determination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the aggregate outstanding principal balance of all Advances. Upon any failure by Borrower to comply with its obligations under this Section 2.3(b) in a timely manner, an Event of Default shall be deemed to have occurred hereunder.
(c) The entire outstanding principal balance of the Loan, together with all accrued interest and other amounts payable to CNB hereunder, shall be due and payable, if not previously paid, on the Maturity Date.
Mandatory Principal Payments. (a) Borrower shall make a principal payment on each Principal Payment Date, each such payment to be in an amount equal to the Minimum Principal Payment; provided that any such payments shall be in addition to any amounts payable by Borrower pursuant to the other provisions of this Section 2.3.
(b) If for any reason the aggregate outstanding principal balance of all Advances plus the aggregate face amount of all outstanding Letters of Credit shall exceed the Commitment Amount, Borrower shall, not later than 30 days after written notice thereof from Lender:
(i) immediately pay the excess to Lender in a lump sum; and/or (ii) commence (and thereafter continue) an amortization schedule under which Borrower repays the excess in six equal monthly principal installments on the first day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; and/or (iii) execute and deliver to Lender additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance satisfactory to Lender, by which Borrower mortgages, pledges or hypothecates to Lender, or creates a security interest in for the benefit of Lender, sufficient additional Oil and Gas Interests to induce Lender to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the aggregate outstanding principal balance of all Advances plus the aggregate face amount of all outstanding Letters of Credit.
(c) The outstanding principal balance of all Advances, together with all unpaid fees and expenses, shall be due and payable not later than the Maturity Date.
Mandatory Principal Payments. All principal and accrued interest for each Loan shall be due and payable on the Loan Maturity Date. Notwithstanding the foregoing, upon receipt of cash proceeds from a Qualifying Capital Transaction, Borrower shall prepay without penalty or premium the entire outstanding principal amount of this Agreement, including all unpaid PIK Interest, together with all accrued and unpaid interest. Borrower shall make all payments to each Lender in accordance with their Pro Rata Share of the applicable payment.
