Common use of Mandatory Principal Payments Clause in Contracts

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 event such pledge of such additional Collateral is made as of such Business Day, hold such funds in the Administrative Agent’s Office until the time of such pledge). Repayment of any such excess amount shall be applied first, to prepay outstanding Swingline Loans in the Applicable Tranche selected by the Company, and second, to prepay outstanding Revolving Loans in the Applicable Tranche selected by the Company, in each case in the direct order of their respective maturities and shall be accompanied by accrued and unpaid interest thereon.

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 1.41.4 after giving effect to any redesignation pursuant to Section 2.13), 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 applicable Clearing Fund Collateral Pool under the Collateral Documents as necessary to cure such deficiency, without the necessity of any notice or demand. (b) [Reserved]On any day on which the aggregate outstanding principal of the Company Pool Loans exceeds the Company Borrowing Base (as determined pursuant to Section 1.4 after giving effect to any redesignation pursuant to Section 2.13), 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 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 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, Loan or on any Business Day when Loans are outstanding, on which the aggregate Borrowing Base (including each Clearing Fund Borrowing Base and the Company Collateral Borrowing Base) or the Aggregate Commitments 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 (ii2) 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 event such pledge of such additional Collateral is made as of such Business Day, hold such funds in the Administrative Agent’s Office until the time of such pledge). Repayment of any such excess amount shall be applied first, to prepay outstanding Swingline Loans in the Applicable Tranche selected by the Company, and second, to prepay outstanding Revolving Loans in the Applicable Tranche selected by the CompanyCompany (in accordance with the applicable Collateral Pools), in each case in the direct order of their respective maturities and shall be accompanied by accrued and unpaid interest thereon.

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. (ba) [Reserved]. (cb) 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. (dc) 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. (ed) 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 event such pledge of such additional Collateral is made as of such Business Day, hold such funds in the Administrative Agent’s Office until the time of such pledge). Repayment of any such excess amount shall be applied first, to prepay outstanding Swingline Loans in the Applicable Tranche selected by the Company, and second, to prepay outstanding Revolving Loans in the Applicable Tranche selected by the Company, in each case in the direct order of their respective maturities and shall be accompanied by accrued and unpaid interest thereon.

Mandatory Principal Payments. (a) On any day on which the aggregate outstanding principal of the Clearing Fund Pool Loans exceeds the Clearing Fund 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 Clearing Fund Collateral Pool under the Collateral Documents as necessary to cure such deficiency, without the necessity of any notice or demand. (b) [Reserved]On any day on which the aggregate outstanding principal of the GFX Loans exceeds the GFX 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 GFX 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 GFX 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 sum of the Clearing Fund Borrowing Base and the GFX 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 event such pledge of such additional Collateral is made as of such Business Day, hold such funds in the Administrative Agent’s Office until the time of such pledge). Repayment of any such excess amount shall be applied first, to prepay outstanding Swingline Loans in the Applicable Tranche selected by the Company, and second, to prepay outstanding Revolving Loans in the Applicable Tranche selected by the CompanyCompany (in accordance with the applicable Collateral Pools), in each case in the direct order of their respective maturities and shall be accompanied by accrued and unpaid interest thereon.