Mandatory Repayments and Prepayments Sample Clauses
Mandatory Repayments and Prepayments. 28 SECTION 3.06.
Mandatory Repayments and Prepayments. (a) If the Termination Date shall occur as a result of a Commitment Termination Event, Borrower shall pay to Lender the Aggregate Total Outstandings in full on the Termination Date. If the Termination Date occurs on the Expected Facility Termination Date and Borrower pays Lender the Term Loan Commitment Fee no later than the Termination Date, Borrower shall pay to Lender the Aggregate Total Outstandings in full no later than the Term Loan Maturity Date; provided that, if Borrower shall not have paid such Term Loan Commitment Fee by the Termination Date, the Aggregate Total Outstandings shall be due and payable in full on the Termination Date.
(b) On each Remittance Date:
(i) Borrower shall prepay the Total Warehouse Outstandings by an amount equal to the Borrowing Base Deficiency, if any, which occurred as of the last day of the immediately preceding calendar month, which have not been prepaid pursuant to clauses (d) or (e) below (the required amount of any such prepayment on any Remittance Date pursuant to this Section 3.03(b)(i), the "Warehouse Regular Principal Payment Amount" for such Remittance Date); and
(ii) Borrower shall prepay the Total Supplemental Outstandings by an amount equal to the Supplemental Borrowing Base Deficiency, if any, which occurred as of the last day of the immediately preceding calendar month, which have not been prepaid pursuant to clause (d) below (the required amount of any such prepayment on any Remittance Date pursuant to this Section 3.03(b)(ii), the "Supplemental Regular Principal Payment Amount" for such Remittance Date).
(c) On the date of any Sale, Borrower shall prepay an amount equal to the sum of (A) the difference between (i) the Total Warehouse Outstandings as of such date and (ii) the Borrowing Base of the Eligible Contracts remaining subject to the Lien of Lender under the Security Agreement after giving effect to such Sale, and (B) the difference between (i) the Total Supplemental Outstandings as of such date and (ii) the Supplemental Borrowing Base after giving effect to such Sale. Borrower hereby agrees to provide to Lender a Sale Notice at least five (5) Business Days prior to any Sale. Notwithstanding the foregoing, in the event that the Cut-off Date with respect to any Contracts subject to a Sale is the first day of the calendar month in which such Sale occurs: (x) the amount of the Total Warehouse Outstandings to be prepaid on the date of such Sale shall equal the product of (A) the aggregate Principal B...
Mandatory Repayments and Prepayments. 30 Section 2.13
Mandatory Repayments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Revolving Loans shall be due and payable in full on the Revolving Credit Maturity Date, and (ii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full on the Swingline Maturity Date.
(b) In the event that at any time the sum of (x) the aggregate principal amount of Revolving Loans outstanding at such time, (y) the aggregate Letter of Credit Exposure of all Lenders at such time (excluding the Reimbursement Obligations that are prepaid with the proceeds of Revolving Loans made on the date of determination) and (z) the aggregate principal amount of Swingline Loans outstanding at such time (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Revolving Loans made on the date of determination) shall exceed the Total Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), the Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrower will immediately prepay the outstanding principal amount of the Revolving Loans in the amount of such excess; provided that, to the extent such excess amount is greater than the aggregate
Mandatory Repayments and Prepayments. (a) The Working Capital Commitment of each Lender shall terminate at the opening of business on the earlier of (i) March 9, 2006 and (ii) the date on which the Tranche A Notes shall have been paid in full (the "Termination Date"), and there shall become due and the Company shall pay on the Termination Date, the entire outstanding principal amount of each Working Capital Loan, together with accrued and unpaid interest thereon to but excluding the Termination Date.
(b) If at any time the aggregate Working Capital Outstandings exceed the lesser of the Borrowing Base and the aggregate Working Capital Commitments of the Lenders, then, on the next succeeding Business Day, the Company shall apply an amount equal to such excess to repay the Working Capital Loans or, in the event any Letter of Credit Liabilities then exist, to cash collateralize such Letter of Credit Liabilities, or both, as and to the extent required by Section 4.7(b), and to the extent the Company fails to make any such payment, the Company shall provide for the replacement or cancellation of any outstanding Letters of Credit until the aggregate Working Capital Outstandings do not exceed the lesser of the Borrowing Base and the aggregate Working Capital Commitments of the Lenders.
(c) No later than one Business Day following the date on which the Company or any of its Subsidiaries receives any payment which constitutes Major Casualty Proceeds, an amount equal to 40% of the amount of such payment to repay the Working Capital Loans or cash collateralize Letter of Credit Liabilities, or both, as and to the extent required by Section 4.7(b), unless the Required Lenders shall otherwise direct (in which case the amount of such payment shall be deposited into the Insurance Account to be held and applied in accordance with Section 5 of the Security Agreement or the Subsidiary Security Agreement, as applicable).
Mandatory Repayments and Prepayments. Borrower shall repay the Term Loans in full on the Term Loan Maturity Date.
Mandatory Repayments and Prepayments. (a) The Working Capital Commitment of each Lender shall terminate at the opening of business on the earlier of (i) May 1, 2004 and (ii) the date on which the Term Notes shall have been paid in full (the "Termination Date"), and there shall become due and each Company shall pay on the Termination Date, the entire outstanding principal amount of each Working Capital Loan made to such Company, together with accrued and unpaid interest thereon to but excluding the Termination Date.
(b) If at any time the aggregate Working Capital Outstandings exceed the lesser of the Borrowing Base and the aggregate Working Capital Commitments of the Lenders, then, on the next succeeding Business Day, the Companies shall apply an amount equal to such excess to repay the Working Capital Loans or cash collateralize Letter of Credit Liabilities, or both, as and to the extent required by Section 3.07(b), and to the extent the Companies fail to make any such payment, the Companies shall provide for the replacement or cancellation of any outstanding Letters of Credit until the aggregate Working Capital Outstandings do not exceed
Mandatory Repayments and Prepayments. If at any time after the Closing Date, the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations shall exceed the Aggregate Revolving Committed Amount, the Borrower immediately shall repay the Loans in an amount sufficient to eliminate such excess. All amounts required to be paid pursuant to this Section 2.7(b) shall be applied first to the Revolving Loans and then (after all Revolving Loans have been repaid) to a cash collateral account in respect of LOC Obligations. Repayments and prepayments shall be applied first to Alternate Base Rate Loans and then to LIBOR Rate Loans in direct order of Interest Period maturities. All repayments and prepayments under this Section 2.7(b) shall be subject to Section 2.17 and be accompanied by interest on the principal amount repaid or prepaid through the date of repayment or prepayment.
Mandatory Repayments and Prepayments. (a) Except to the extent due or made sooner pursuant to the provisions of this Agreement, the Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans in the amounts and on the dates set forth below: -27- Date Payment Amount ---- -------------- March 31, 1999 $1,500,000 June 30, 1999 $1,500,000 September 30, 1999 $1,500,000 December 31, 1999 $1,500,000 March 31, 2000 $1,875,000 June 30, 2000 $1,875,000 September 30, 2000 $1,875,000 December 31, 2000 $1,875,000 March 31, 2001 $1,875,000 June 30, 2001 $1,875,000 September 30, 2001 $1,875,000 December 31, 2001 $1,875,000 March 31, 2002 $2,250,000 June 30, 2002 $2,250,000 September 30, 2002 $2,250,000 December 31, 2002 $2,250,000 In the event the Tranche A-2 Term Loans are not extended, the payment amounts set forth in this Section 2.6(a) shall be reduced in the aggregate by $10,000,000 applied on a pro rata basis on the relative amounts of such payment amounts.
(b) Except to the extent due or made sooner pursuant to the provisions of this Agreement, the Borrower will, at its option, either repay the aggregate outstanding principal of the Tranche B Term Loans or deposit, or cause Beechwood to deposit, cash in Pounds Sterling in the Sinking Fund Account, in the amounts and on the dates set forth below (and each Lender's Tranche B Commitment shall be reduced by such Lender's Tranche B Commitment Percentage of each of the following payment amounts as of the following dates):
Mandatory Repayments and Prepayments. 39 Section 3.04. Funds; Manner of Payment....................................................................... 42 Section 3.05. Default Interest............................................................................... 42 Section 3.06. Requirements of Law............................................................................ 43 Section 3.07. Indemnity....................................................................................