Mandatory Reduction and Prepayment Sample Clauses

Mandatory Reduction and Prepayment. 11 7.4 Accrued interest and broken funding costs................. 12 7.5 Effect of repayment or prepayment......................... 12 7.6 Limitation................................................ 12
Sample 1
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Mandatory Reduction and Prepayment. 7.3.1 The Total Commitments shall, on the date (a "REDUCTION DATE") the same is received by the Borrower or any of its Subsidiaries, be cancelled pro rata by the amount of the gross proceeds of any capital markets issue of the Borrower or any of its Subsidiaries other than New Holland Credit Company LLC, Case Capital Corporation and Subsidiaries of Case Capital Corporation (but excluding (i) the proceeds of any capital markets debt issue raised for working capital purposes and (ii) the proceeds of any equity issue made in order to refinance an equity bridging loan existing at the date of this Agreement).
Sample 1
Mandatory Reduction and Prepayment. Upon the earlier to occur of (i) the date that is two years after the Effective Date or (ii) the financing or refinancing of all or substantially all of the LPD-17 Expenditures in accordance with Section 6.12 and the other provisions hereof, the amount of the Commitments shall reduce automatically to an aggregate amount equal to the lesser of (x) $50,000,000 or (y) the Line of Credit as then in effect, and, in the event that, as a result of the corresponding reduction in the Line of Credit, the aggregate amount of Loans then outstanding plus the aggregate amount of Letter of Credit Outstandings exceeds the Line of Credit (after giving effect thereto), the Company shall immediately, and without notice or demand, prepay the outstanding principal amount of the Loans by an amount equal to such excess. Said reduction in the Commitments shall be permanent and shall be made pro rata to the Commitments of the Banks.
Sample 1

Related to Mandatory Reduction and Prepayment

  • Mandatory Repayments and Prepayments 28 SECTION 3.06.

  • Redemption and Prepayment Section 3.01

  • Mandatory Payments and Prepayments (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the aggregate outstanding principal of the Loans shall be due and payable in full on the Maturity Date.

  • Allocation of Prepayments Before any optional or mandatory prepayment of Borrowings hereunder, the Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(f).

  • Mandatory Reduction At the close of business on the Termination Date, the aggregate Commitments shall be automatically and permanently reduced, on a pro rata basis, by an amount equal to the amount by which the aggregate Commitments immediately prior to giving effect to such reduction exceed the aggregate unpaid principal amount of the Committed Advances then outstanding.

  • Mandatory Repayments and Commitment Reductions (a) (i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure exceeds the lesser of (x) the Total Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered), the Borrower shall prepay on such day the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstanding, Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Total Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered)), the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or Cash Equivalents equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash and/or Cash Equivalents to be held as security for all Obligations of the Borrower to the Issuing Lenders and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent.

  • Mandatory Repayments (a) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other repayments thereof on such date), (II) the aggregate outstanding principal amount of all Swingline Loans (after giving effect to all other repayments thereof on such date) and (III) the aggregate amount of all Letter of Credit Outstandings exceeds the Total Revolving Loan Commitment at such time, the Borrower shall prepay on such day the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstanding, Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Revolving Loan Commitment at such time, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or Cash Equivalents equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash and/or Cash Equivalents to be held as security for all Obligations of the Borrower to the Issuing Lenders and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent.

  • Mandatory Reductions If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

  • Mandatory Reduction of Commitments (a) The Total Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety on April 30, 2006, unless the Initial Borrowing Date has occurred on or prior to such date.

  • Mandatory Repayment The aggregate principal amount ------------------- of the Revolving Loans outstanding on the Maturity Date, together with accrued interest thereon, shall be due and payable in full on the Maturity Date. If at any time the aggregate outstanding Borrowings exceed the Revolving Commitment then in effect, the Borrower shall immediately repay the excess to the Bank without penalty or premium.

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