Common use of Mandatory Repayment of Revolving Credit Loans Clause in Contracts

Mandatory Repayment of Revolving Credit Loans. (i) If at any time the Asset Coverage Ratio as set forth on the most recently delivered Borrowing Base Certificate and adjusted on a pro forma basis for all Extensions of Credit made and/or repaid since the date of the financial information used to determine such Asset Coverage Ratio is less than 1.00 to 1.00, the Borrower agrees to immediately repay the principal amount of outstanding Revolving Credit Loans in an amount sufficient to cause the Asset Coverage Ratio (determined on a pro forma basis after giving effect to such payment) to equal or exceed 1.00 to 1.00. (ii) 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 Borrowing Limit, the Borrower agrees to repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders Extensions of Credit in an amount 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 Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired Dollar Equivalent amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 12.2(b)).

Mandatory Repayment of Revolving Credit Loans. (i) If at any time the Asset Coverage Ratio as set forth on the most recently delivered Borrowing Base Asset Coverage Ratio Certificate and adjusted on a pro forma basis for all Extensions of Credit made and/or repaid since the date of the financial information used to determine such Asset Coverage Ratio is less than 1.00 to 1.00, the Borrower agrees to immediately repay the principal amount of outstanding Revolving Credit Loans in an amount sufficient to cause the Asset Coverage Ratio (determined on a pro forma basis after giving effect to such payment) to equal or exceed 1.00 to 1.00. (ii) 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 Borrowing Limit, the Borrower agrees to repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders Extensions of Credit in an amount 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 Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired Dollar Equivalent amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 12.2(b)).

Mandatory Repayment of Revolving Credit Loans. (i) If at any time the Asset Coverage Ratio as set forth on the most recently delivered Borrowing Base Certificate and adjusted on a pro forma PRO FORMA basis for all Extensions of Credit made and/or repaid since the date of the financial information used to determine such Asset Coverage Ratio is less than 1.00 to 1.00, the Borrower agrees to immediately repay the principal amount of outstanding Revolving Credit Loans in an amount sufficient to cause the Asset Coverage Ratio (determined on a pro forma PRO FORMA basis after giving effect to such payment) to equal or exceed 1.00 to 1.00. (ii) If at any time the outstanding principal amount of all Revolving Credit Loans plus PLUS the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Borrowing Limit, the Borrower agrees to repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders Extensions of Credit in an amount equal to such excess with each such repayment applied first FIRST to the principal amount of outstanding Swingline Loans, second SECOND to the principal amount of outstanding Revolving Credit Loans and thirdTHIRD, with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired Dollar Equivalent amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 12.2(b)).