Mandatory Repayments and Commitment Reductions. (a) In addition to any other mandatory repayments pursuant to this Section 4.02 or any other Section of this Agreement, the outstanding Loans shall be repaid on each Repayment Date (or such other date as may be agreed between the Facility Agent and the Borrower) (without further action of the Borrower being required) in 24 equal semi-annual installments commencing on either (i) the first Business Day that is on or after the sixth month anniversary of the Borrowing Date in relation to the Delivery Date or, (ii) if requested by the Borrower no later than five days prior to the anticipated Delivery Date, such date falling less than 6 months after the Delivery Date as the Borrower may select, and ending on the Maturity Date (each such repayment, a “Scheduled Repayment”).
(b) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02 or any other Section of this Agreement, but without duplication, on (i) the Business Day following the date of a Collateral Disposition (other than a Collateral Disposition constituting an Event of Loss) and (ii) the earlier of (A) the date which is 150 days following any Collateral Disposition constituting an Event of Loss involving the Vessel (or, in the case of an Event of Loss which is a constructive or compromised or arranged total loss of the Vessel, if earlier, 180 days after the date of the event giving rise to such damage) and (B) the date of receipt by the Borrower, any of its Subsidiaries or the Facility Agent of the insurance proceeds relating to such Event of Loss, the Borrower shall repay the outstanding Loans in full and the Total Commitment shall be automatically terminated (without further action of the Borrower being required).
(c) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02 or any other Section of this Agreement, but without duplication, if (x) the Construction Contract is terminated prior to the Delivery Date, (y) the Vessel has not been delivered to the Borrower by the Yard pursuant to the Construction Contract by the Commitment Termination Date or (z) any of the events described in Sections 11.05, 11.10 or 11.11 shall occur in respect of the Yard at any time prior to the Delivery Date, within five Business Days of the occurrence of such event the Borrower shall repay the outstanding Loans in full and the Total Commitment shall be automatically terminated (without further action of the Borrower being required).
(d...
Mandatory Repayments and Commitment Reductions. (a) If on any date the aggregate amount of all Letter of Credit Outstandings and Bank Guaranty Outstandings exceeds the Total Credit-Linked Commitment as then in effect, the U.S. Borrower or the Bermuda Borrower (as determined by the U.S. Borrower) (subject to clause (x) of the proviso to this clause (a)) agrees to pay to the Administrative Agent at the Payment Office on such date an amount of cash and/or Cash Equivalents in Dollars equal to such excess, such cash or Cash Equivalents to be held as security for all Obligations of the respective Borrower (including, without limitation, in the case of the U.S. Borrower pursuant to the Credit Agreement Party Guaranty) to the Issuing Lenders, Bank Guaranty Issuers and Lenders relating to Letters of Credit and Bank Guaranties (and reimbursement and other Obligations relating thereto) hereunder in a cash collateral account to be established by, and under the sole dominion and control of, the Administrative Agent; provided that (x) the aggregate amount of cash and/or Cash Equivalents paid by the Bermuda Borrower to the Administrative Agent under this clause (a) shall not at any time exceed the sum of the Letter of Credit Outstandings (with respect to Bermuda Borrower Letters of Credit) and the Bank Guaranty Outstandings (with respect to Bermuda Borrower Bank Guaranties) at such time and (y) any such cash and/or Cash Equivalents shall first be applied to repay any amounts owing to the respective Issuing Lender and Bank Guaranty Issuer as described in Section 2C.03 hereof.
(i) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the U.S. Borrower shall be required to repay that principal amount of Tranche B Term Loans, to the extent then outstanding, as is set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(g), a “Tranche B Term Loan Scheduled Repayment”):
Mandatory Repayments and Commitment Reductions. (a) On any day on which the sum of the aggregate outstanding principal amount of the Revolving Loans, Swingline Loans and the Letter of Credit Outstandings exceeds the Total Revolving Loan Commitment as then in effect, the Borrower shall prepay on such day principal of Swingline Loans and, after the Swingline Loans have been repaid in full, 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 as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such date an amount of cash 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 or Cash Equivalents to be held as security for all obligations of the Borrower hereunder in a cash collateral account to be established by the Administrative Agent.
(b) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the Borrower shall be required to repay that principal amount of Term Loan A, to the extent then outstanding, as is set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(i), a "Term Loan A Scheduled Repayment," and each such date, a "Term Loan A Scheduled Repayment Date"): Term Loan A Scheduled Repayment Date Amount -------------------------- ------ The last Business Day of FQ1 2003 $3,750,000 The last Business Day of FQ2 2003 $3,750,000 The last Business Day of FQ3 2003 $3,750,000 The last Business Day of FQ4 2003 $3,750,000 The last Business Day of FQ1 2004 $5,000,000 The last Business Day of FQ2 2004 $5,000,000 The last Business Day of FQ3 2004 $5,000,000 The last Business Day of FQ4 2004 $5,000,000 The last Business Day of FQ1 2005 $5,000,000 The last Business Day of FQ2 2005 $5,000,000 The last Business Day of FQ3 2005 $5,000,000 Term Loan A Maturity Date $5,000,000
(c) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the Borrower shall be required to repay that principal amount of Term Loan B, to the extent then outstanding, as is set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(i), a "Term Loan B Sc...
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 and Commitment Reductions. (a) On any day on which the sum of the aggregate outstanding principal amount of the Revolving Loans and Swingline Loans and the Letter of Credit Outstandings exceeds the Total Revolving Loan Commitment as then in effect, the Borrower shall prepay on such day principal of Swingline Loans in an amount up to the amount of such excess and, after all Swingline Loans have been repaid in full, Revolving Loans in an amount equal to such excess minus the principal amount of Swingline Loans so prepaid. 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 as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash 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 or Cash Equivalents to be held as security for all obligations of the Borrower to the Issuing Banks and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent.
(b) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the Borrower shall be required to repay that principal amount of Term Loans, to the extent then outstanding, as is set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01(a) and 4.02(i), a "Scheduled Repayment," and each such date, a "Scheduled Repayment Date"): Scheduled Repayment Date Amount ------------------------ ------ July 31, 2002 $10,000,000 October 31, 2002 $ 3,750,000 January 31, 2003 $ 3,750,000 23 30 April 30, 2003 $ 3,750,000 July 31, 2003 $ 3,750,000 October 31, 2003 $ 6,250,000 January 31, 2004 $ 6,250,000 April 30, 2004 $ 6,250,000 Term Loan Maturity Date $ 6,250,000
(c) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date on or after the Effective Date upon which the Borrower or any of its Subsidiaries receives any cash proceeds from any incurrence by the Borrower or any of its Subsidiaries of Indebtedness for borrowed money (other than Indebtedness for borrowed money permitted to be incurred pursuant to Section 9.04 as such Section is in effect on the Effective Date), an amount equal to 100% of the Net Debt Proceeds of such Indebtedness shall be ...
Mandatory Repayments and Commitment Reductions. (a) (i) If on any date the sum of (x) the aggregate outstanding principal amount of Revolving Loans made by Non-Defaulting Lenders and Swingline Loans (after giving effect to all other repayments thereof on such date) and (y) the WC Letter of Credit Outstandings on such date, exceeds the Adjusted Total Revolving Loan Commitment as then in effect, the Borrower shall repay on such date the principal of Swingline Loans, and if no Swingline Loans are or remain outstanding, the principal of Revolving Loans of Non-Defaulting Lenders in an aggregate amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and all outstanding Revolving Loans of Non-Defaulting Lenders, the aggregate amount of WC Letter of Credit Outstandings exceeds the Adjusted Total Revolving Loan Commitment as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such date an amount in cash and/or Cash Equivalents equal to such excess (up to the aggregate amount of WC Letter of Credit Outstandings at such time) and the Administrative Agent shall hold such payment as security for the obligations of the Borrower to Non-Defaulting Lenders hereunder pursuant to a cash collateral agreement to be entered into in form and substance reasonably satisfactory to the Administrative Agent.
Mandatory Repayments and Commitment Reductions. 25 4.03 Method and Place of Payment.................................... 31 4.04 Net Payments; Taxes............................................ 31 SECTION 5. Conditions Precedent to Loans................................. 33
Mandatory Repayments and Commitment Reductions. (a) The Borrowers shall prepay all Existing Loans that are not Converted Term Loans on the Amendment No. 4 Effective Date together with all accrued interest and fees owing as of the Amendment No. 4 Effective Date under the Credit Agreement prior to giving effect to this Amendment No. 4 (including in respect of Converted Term Loans).
(b) (i) On each date set forth below, the U.S. Borrower shall repay the principal amount of Tranche B-2 Term Loans set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(g), a “Tranche B-2 Term Loan Scheduled Repayment”): Tranche B-2 Term Loan Scheduled Repayment Date Amount Last Business Day of September, 2011 $787,500 Last Business Day of December, 2011 $787,500 Last Business Day of March, 2012 $787,500 Last Business Day of June, 2012 $787,500 Last Business Day of September, 2012 $787,500 Last Business Day of December, 2012 $787,500 Tranche B-2 Term Loan Scheduled Repayment Date Amount Last Business Day of March, 2013 $787,500 Last Business Day of June, 2013 $787,500 Last Business Day of September, 2013 $787,500 Last Business Day of December, 2013 $787,500 Last Business Day of March, 2014 $787,500 Last Business Day of June, 2014 $787,500 Last Business Day of September, 2014 $787,500 Last Business Day of December, 2014 $787,500 Last Business Day of March, 2015 $787,500 Last Business Day of June, 2015 $787,500 Last Business Day of September, 2015 $787,500 Last Business Day of December, 2015 $787,500 Last Business Day of March, 2016 $787,500 Last Business Day of June, 2016 $787,500 Last Business Day of September, 2016 $787,500 Last Business Day of December, 2016 $787,500 Last Business Day of March, 2017 $787,500 Last Business Day of June, 2017 $787,500 Last Business Day of September, 2017 $787,500 Last Business Day of December, 2017 $787,500 Last Business Day of March, 2018 $787,500 Last Business Day of June, 2018 $787,500 Tranche B-2/C-2 Term Loan Maturity Date $292,950,000
Mandatory Repayments and Commitment Reductions. (a) If on any date the Aggregate Multicurrency Facility RL Exposure exceeds the Total Multicurrency Facility Revolving Loan Commitment as then in effect, the U.S. Borrower shall prepay on such date the principal of outstanding U.S. Borrower Multicurrency Facility Revolving Loans and/or U.S. Borrower Swingline Loans, and/or the European Borrower shall prepay on such date the principal of outstanding European Borrower Multicurrency Facility Revolving Loans and/or European Borrower Swingline Loans, in an amount (in the case of payments made with respect to Euro Denominated Loans, taking the Dollar Equivalent of the amounts paid in Euros in which payments on such Loans are owing) equal to such excess (with such repayment of Multicurrency Facility Revolving Loans and Swingline Loans to be allocated among U.S. Borrower Multicurrency Facility Revolving Loans, U.S. Borrower Swingline Loans, European Borrower Multicurrency Facility Revolving Loans and European Borrower Swingline Loans as the Borrowers may elect). If, after giving effect to the prepayment of all outstanding Swingline Loans and Multicurrency Facility Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Multicurrency Facility Revolving Loan Commitment as then in effect, the U.S. Borrower agrees (as to U.S. Borrower Letters of Credit), and the European Borrower agrees (as to European Borrower Letters of Credit), to pay to the Administrative Agent at the Payment Office on such date an amount of cash or Cash Equivalents (in Dollars or in the respective currencies in which the Letter of Credit Outstandings are denominated) equal to the amount of such excess (up to a maximum amount equal to (x) in the case of the U.S. Borrower, the Letter of Credit Outstandings with respect to U.S. Borrower Letters of Credit at such time and (y) in the case of the European Borrower, the Letter of Credit Outstandings with respect to European Borrower Letters of Credit at such time), such cash or Cash Equivalents to be held as security for all obligations of the U.S. Borrower or the European Borrower, as the case may be, hereunder in a cash collateral account to be established by the Administrative Agent.
(i) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the U.S. Borrower shall be required to repay that principal amount of U.S. Borrower Term Loans, to the extent then outstanding, as is set forth oppos...
Mandatory Repayments and Commitment Reductions. (a) (i) If on any date the Aggregate Dollar Facility RL Exposure exceeds the Total Dollar Facility Revolving Loan Commitment as then in effect, the U.S. Borrower shall prepay on such date the principal of outstanding Swingline Loans and/or the principal of outstanding Dollar Facility Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Dollar Facility Revolving Loans, the aggregate amount of the Dollar Facility Letter of Credit Outstandings exceeds the Total Dollar Facility Revolving Loan Commitment as then in effect, the U.S. Borrower agrees to pay to the Administrative Agent at the Payment Office on such date an amount of cash or Cash Equivalents (in Dollars) equal to the amount of such excess (up to a maximum amount equal to the sum of (x) the principal amount of all outstanding Competitive Bid Loans plus (y) the Dollar Facility Letter of Credit Outstandings at such time), such cash or Cash Equivalents to be held as security for all Obligations of the U.S. Borrower hereunder in a cash collateral account to be established by the Administrative Agent; provided that any cash or Cash Equivalents provided pursuant to this Section 4.02(a)(i) shall be applied first, to any Obligations of the U.S. Borrower owing to the Lenders with Dollar Facility Revolving Loan Commitments (or related outstanding Obligations hereunder) and second, to all other Obligations of the U.S. Borrower hereunder.
