Common use of Mandatory Repayments of Loans Clause in Contracts

Mandatory Repayments of Loans. If at any time the Borrower shall incur Indebtedness permitted by ss.9.1(k), the Borrower shall, at the request of the Majority Banks, immediately pay to the Agent for the respective accounts of the Banks an amount equal to the net proceeds of all such Indebtedness incurred following the Closing Date, up to a maximum of $50,000,000 in connection with any such Indebtedness described in ss.9.1(k)(i) and up to a cumulative maximum of $100,000,000 in connectioN with any such Indebtedness described in ss.9.1(k)(ii). If at any time the sum of the outstanding amounT of the Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks. Any amounts repaid in accordance with either of the immediately preceding two sentences shall be applied: first, to any Unpaid Reimbursement Obligations; second, to the Loans; and third, to provide to the Agent cash collateral for Reimbursement Obligations as contemplated by ss.4.2(b) and (c). Each payment of any Unpaid Reimbursement Obligations or prepayment of Loans shall be allocated among the Banks, in proportion, as nearly as practicable, to each Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each Bank's Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Mandatory Repayments of Loans. If at any time the Borrower shall incur Indebtedness permitted by ss.9.1(k[Section]9.1(k), the Borrower shall, at the request of the Majority Banks, immediately pay to the Agent for the respective accounts of the Banks an amount equal to the net proceeds of all such Indebtedness incurred following the Closing Date, up to a maximum of $50,000,000 in connection with any such Indebtedness described in ss.9.1(k)(i[Section]9.1(k)(i) and up to a cumulative maximum of $100,000,000 in connectioN connection with any such Indebtedness described in ss.9.1(k)(ii[Section]9.1(k)(ii). If at any time the sum of the outstanding amounT amount of the Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks. Any amounts repaid in accordance with either of the immediately preceding two sentences shall be applied: first, to any Unpaid Reimbursement Obligations; second, to the Loans; and third, to provide to the Agent cash collateral for Reimbursement Obligations as contemplated by ss.4.2(b[Section]4.2(b) and (c). Each payment of any Unpaid Reimbursement Obligations or prepayment of Loans shall be allocated among the Banks, in proportion, as nearly as practicable, to each Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each Bank's Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.