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.
Appears in 6 contracts
Samples: Intercreditor Agreement (Dole Food Co Inc), Intercreditor Agreement (Dole Food Co Inc), Intercreditor Agreement (Dole Food Co Inc)
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the sum of (i) the aggregate outstanding principal amount of Revolving Loans and Swingline Loans (after giving effect to all other than during an Agent Advance Periodrepayments thereof on such date) Aggregate Exposure made by Non-Defaulting Banks plus (ii) the Letter of Credit Outstanding as then in effect exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day date the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or if no Swingline Loans are or remain outstanding, Revolving Loans of Non-Defaulting Banks in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 3 contracts
Samples: Credit Agreement (Coinmach Service Corp), Credit Agreement (Appliance Warehouse of America Inc), Credit Agreement (Coinmach Corp)
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, 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 outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders Banks and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 2 contracts
Samples: Pledge Agreement (Doubletree Corp), Credit Agreement (Doubletree Corp)
Mandatory Repayments and Commitment Reductions. (a) (ia)(i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Lenders, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all the Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Lenders in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Lenders, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders and the Non-Defaulting Lenders hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 2 contracts
Samples: Credit Agreement (Universal Compression Inc), Universal Compression Holdings Inc
Mandatory Repayments and Commitment Reductions. (a) (ia)(i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all the Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (Universal Compression Holdings Inc)
Mandatory Repayments and Commitment Reductions. (a) (i) On If on any ---------------------------------------------- day on which the (other than during an Agent Advance Period) Aggregate Revolving Credit Exposure exceeds the lesser of (x) the Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of outstanding Swingline Loans and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstanding, principal of outstanding Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all such outstanding Swingline Loans and Revolving Loans, the aggregate amount sum of the outstanding Letter of Credit Outstandings exceeds the lesser of (A) the Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or Cash Equivalents in an amount 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 obligations of the Borrower to hereunder and under the Issuing Lenders and the Lenders hereunder other Credit Documents in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (NRT Inc)
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other than during an Agent Advance Periodrepayments thereof on such date), (II) Aggregate Exposure 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 lesser of (x) the Total Available Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)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 lesser of (A) the Total Available Revolving Loan 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 obligations of the Borrower to the Issuing Lenders Lender and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Mandatory Repayments and Commitment Reductions. (a) (i) On If on ---------------------------------------------- any day on which the (other than during an Agent Advance Period) Aggregate Revolving Credit Exposure exceeds the lesser of (x) the Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of outstanding Swingline Loans and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstanding, principal of outstanding Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all such outstanding Swingline Loans and Revolving Loans, the aggregate amount sum of the outstanding Letter of Credit Outstandings exceeds the lesser of (A) the Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or Cash Equivalents in an amount 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 obligations of the Borrower to hereunder and under the Issuing Lenders and the Lenders hereunder other Credit Documents in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (NRT Inc)
Mandatory Repayments and Commitment Reductions. (a) (ia)(i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans in an amount up to the amount of such excess and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excessexcess minus the principal amount of Swingline Loans so prepaid. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders Banks and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans in an amount up to the amount of such excess and, after all Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excessexcess minus the principal amount of Swingline Loans so prepaid. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders Banks and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Samples: And (Omniquip International Inc)
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.
Appears in 1 contract
Samples: Credit Agreement (Dole Food Co Inc)
Mandatory Repayments and Commitment Reductions. (a) (i) On If on any day on which ---------------------------------------------- date the (other than during an Agent Advance Period) Aggregate Exposure exceeds the lesser sum of (x) the Total Commitment at aggregate outstanding principal amount of Revolving Loans and Swingline Loans (after giving effect to all other repayments thereof on such time date) and (y) the Borrowing Base at Letter of Credit Outstandings on such time (based on date, exceeds the Borrowing Base Certificate last delivered)Total Revolving Loan Commitment as then in effect, the Borrower shall prepay repay on such day date, the principal of Swingline Loans andLoans, after all Swingline Loans have been repaid in full or and if no Swingline Loans are or remain outstanding, the principal of Revolving Loans 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, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of in cash and/or Cash Equivalents equal to the amount of such excess (up to a maximum the aggregate amount equal to the of Letter of Credit Outstandings at such time), ) and the Administrative Agent shall hold such cash and/or Cash Equivalents to be held payment as security for all Obligations the obligations of the Borrower to the Issuing Lenders and the Lenders Banks hereunder in pursuant to a cash collateral account agreement to be established by entered into in form and substance reasonably satisfactory to the Administrative Agent.
Appears in 1 contract
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) Adjusted Total Revolving Loan Commitment as then in effect minus the Total Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)Foreign Loan Amount then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all the Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the (other than during an Agent Advance Period) Aggregate Exposure sum of the aggregate outstanding principal amount of the Revolving Loans made by Non-Defaulting Banks, Swingline Loans and the Letter of Credit Outstandings exceeds the lesser of (x) the Adjusted Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all the Swingline Loans have been repaid in full or if no Swingline Loans are outstandingfull, Revolving Loans of Non-Defaulting Banks in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving LoansLoans of Non-Defaulting Banks, the aggregate amount of the Letter of Credit Outstandings exceeds the lesser of (A) the Adjusted Total Revolving Loan Commitment at such time, and (B) the Borrowing Base at such time (based on the Borrowing Base Certificate (as delivered))then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day date an amount of cash and/or 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 or Cash Equivalents to be held as security for all Obligations obligations of the Borrower to the Issuing Lenders and the Lenders Non-Defaulting Banks hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Mandatory Repayments and Commitment Reductions. (a) (i) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other than during an Agent Advance Periodrepayments thereof on such date), (II) Aggregate Exposure 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 lesser of (x) the Total Revolving Loan Commitment at such time and (y) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered)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 lesser Total Revolving Loan Commitment 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 obligations of the Borrower to the Issuing Lenders Lender and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (Infousa Inc)