Common use of Mandatory Repayment of Excess Loans Clause in Contracts

Mandatory Repayment of Excess Loans. If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Aggregate Commitment, the Borrower shall, immediately upon notice from the Administrative Agent, repay to the Administrative Agent for the account of the Lenders, the amount of such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans and third, with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash collateral account opened by the Borrower with the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 11.2(b)). Each such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.

Mandatory Repayment of Excess Loans. If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Aggregate Commitment, the Borrower shall, Borrowers shall repay immediately upon notice from the Administrative Agent, repay by payment to the Administrative Agent for the account of the Lenders, the Extensions of Credit in an amount of equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans and third, with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash collateral account opened by the Borrower Borrowers with the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 11.2(b)). Each such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.

Mandatory Repayment of Excess Loans. If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Competitive Bid Loans and plus all outstanding L/C Obligations exceeds the Aggregate Commitment, the Borrower shall, shall repay immediately upon notice from the Administrative Agent, repay by payment to the Administrative Agent for the account of the Lenders, Revolving Credit Loans, Competitive Bid Loans and/or cash collateralize or repay the L/C Obligations in an amount of equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Revolving Credit Loans, second to the principal amount of outstanding Revolving Credit Loans L/C Obligations, and thirdthird to the principal amount of outstanding Competitive Bid Loans, with respect to in the inverse order of maturity of any Letters of Credit then outstanding, a payment of such Competitive Bid Loans. Such cash collateral into a cash collateral account opened by the Borrower with the Administrative Agent for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to shall be applied in accordance with Section 11.2(b)). Each such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.