Common use of Mandatory Principal Prepayments Clause in Contracts

Mandatory Principal Prepayments. All Revolving Loans hereunder shall be repaid by the Borrower on the Maturity Date, unless payable sooner pursuant to the provisions of this Agreement. In the event the aggregate outstanding principal balance of all Revolving Loans hereunder at any time exceed the Revolving Loan Commitment, the Borrower shall, without notice or demand of any kind, immediately make such repayments of the Revolving Loans or take such other actions as shall be necessary to eliminate such excess.

Appears in 2 contracts

Samples: Revolving Loan Agreement (Aar Corp), Revolving Loan Agreement (Aar Corp)

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Mandatory Principal Prepayments. All Revolving Loans hereunder shall be repaid by the Borrower on the Revolving Loan Maturity Date, unless payable sooner pursuant to the provisions of this Agreement. In the event the aggregate outstanding principal balance of all Revolving Loans and General Letter of Credit Obligations hereunder at any time exceed the Revolving Loan CommitmentAvailability, the Borrower shall, without notice or demand of any kind, immediately make such repayments of the Revolving Loans or take such other actions as shall be necessary to eliminate such excess.

Appears in 1 contract

Samples: Loan Agreement (Brookdale Senior Living Inc.)

Mandatory Principal Prepayments. All Revolving Loans hereunder shall be repaid by the Borrower on the Revolving Loan Maturity Date, unless payable sooner pursuant to the provisions of this Agreement. In the event the aggregate outstanding principal balance of all Revolving Loans hereunder at any time exceed the Revolving Loan CommitmentAvailability, the Borrower shall, without notice or demand of any kind, immediately make such repayments of the Revolving Loans or take such other actions as shall be necessary to eliminate such excess.

Appears in 1 contract

Samples: Loan and Security Agreement (Fortune Industries, Inc.)

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Mandatory Principal Prepayments. All The Revolving Loans hereunder Loan shall be repaid by the Borrower on the Revolving Loan Maturity Date, unless payable sooner pursuant to the provisions of this Agreement. In the event the aggregate outstanding principal balance of all Revolving Loans hereunder at any time exceed the Revolving Loan Commitmenthereunder exceeds the Revolving Loan Availability, the Borrower shall, without notice or demand of any kind, immediately make such repayments of the Revolving Loans Loan or take such other actions as shall be necessary to eliminate such excess.

Appears in 1 contract

Samples: Loan Agreement (Cti Group Holdings Inc)

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