Mandatory Reduction of Indebtedness Sample Clauses

Mandatory Reduction of Indebtedness. If at any time and for any reason, the aggregate principal amount (without duplication) of all Advances of the Revolving Credit hereunder to the Company, plus the aggregate principal amount of Swing Line Advances outstanding hereunder as of such time, plus the aggregate undrawn portion of any Letters of Credit which shall be outstanding, plus the undrawn amount of all Letters of Credit requested but not yet issued, plus the unreimbursed amount of any draws under any Letters of Credit, as of such time exceeds the lesser of (x) the Revolving Credit Maximum Amount and (y) the Borrowing Base Limitation, in each case then applicable, (as used herein, the "Excess"), the Company shall immediately reduce any pending request for an Advance on such day by the amount of the Excess, to the extent thereof and, to the extent any Excess remains thereafter, repay any Advances of the Revolving Credit or Swing Line Advances in an amount equal to the lesser of the outstanding amount of such Advances and the amount of such remaining Excess, with such amounts to be applied between the Advances of the Revolving Credit and the Swing Line Advances as determined by the Agent and then, to the extent that any Excess remains after payment in full of all Advances of the Revolving Credit and Swing Line Advances, to provide cash collateral in support of any outstanding Letter of Credit Obligations in an amount equal to the lesser of the amount of such Letter of Credit Obligations and the amount of such remaining Excess, with such cash collateral to be provided on the basis set forth in Section 9.2 hereof. Company acknowledges that, in connection with any repayment required hereunder, it shall also be responsible for the reimbursement of any prepayment or other costs required under Section 11.1 hereof; provided, however, that Company shall, in order to reduce any such prepayment costs and expenses, first prepay such portion of the Indebtedness then carried as a Prime-based Advance, if any. Compliance with this Section 2.14 shall be tested on a daily or other basis satisfactory to Agent in its sole discretion. To the extent that, on the date any mandatory repayment under this Section 2.14 is due, the Indebtedness under the Revolving Credit or any other Indebtedness to be prepaid is being carried, in whole or in part, at the Eurodollar-based Rate and no Default or Event of Default has occurred and is continuing, Company may deposit the amount of such mandatory prepayment in a cash collater...
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Mandatory Reduction of Indebtedness. 43 2.15 Optional Reduction or Termination of Revolving Credit Maximum Amount .................................................................. 44 2.16 Extension of Revolving Credit Maturity Date ............................. 45 2.17 Optional Increase in Revolving Credit Maximum Amount .................... 45 2.18 Revolving Credit as Renewal; Application of Advances; Existing Advances ................................................................ 47
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Mandatory Reduction of Indebtedness. (a) If at any time and for any reason, the sum of (A) the aggregate outstanding principal amount of all Revolving Credit Advances plus (B) the aggregate outstanding principal amount of all Swing Line Advances plus (C) the aggregate outstanding amount of all Letter of Credit Obligations, exceeds the lesser of (i) the Revolving Credit Aggregate Commitment and (ii) the Borrowing Base (as used in this clause (a), the "Excess"), the Borrowers shall immediately repay the Indebtedness by the amount of such Excess, and/or reduce any pending request for an Advance on such day by the amount of the Excess.
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Mandatory Reduction of Indebtedness. 37 2.15 MANDATORY REPAYMENT OF REVOLVING ADVANCES; MANDATORY REDUCTION OF REVOLVING CREDIT AGGREGATE COMMITMENT....................................................................... 38 2.16 OPTIONAL REDUCTION OR TERMINATION OF REVOLVING CREDIT AGGREGATE COMMITMENT................. 39 2.17 EXTENSION OF REVOLVING CREDIT MATURITY DATE................................................ 39 2.18
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Mandatory Reduction of Indebtedness 
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Related to Mandatory Reduction of Indebtedness

  • Accrual of Interest and Maturity; Evidence of Indebtedness (i) Swing Line Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to Swing Line Lender resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest Rate, its Interest Period, if any, and the amount and date of any repayment made on any Swing Line Advance from time to time. The entries made in such account or accounts of Swing Line Lender shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of Swing Line Lender to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the Borrower to repay the Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.

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