Mandatory Repayments of the Loans. If at any time the sum of the outstanding principal amount of the Loans plus the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment, whether by reduction of the Total Commitment or otherwise, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent, (i) for application to the Loans, first to Syndicated Loans, then to Competitive Bid Loans, subject to Section 5.8, or (ii) if no Loans shall be outstanding, to be held by the Administrative Agent for the benefit of the Banks as collateral security for such excess Maximum Drawing Amount and the Borrower hereby grants a security interest in such amount to the Administrative Agent for the benefit of the Banks; provided, however, that if the amount of cash collateral held by the Administrative Agent pursuant to this Section 5.2(a) exceeds the Maximum Drawing Amount required to be collateralized from time to time, the Administrative Agent shall return such excess to the Borrower.
Mandatory Repayments of the Loans. If at any time (including without limitation by reason of fluctuation in the rate of exchange between the Canadian Dollar and the U.S. Dollar) the sum of the outstanding principal amount of the Loans plus the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment, whether by reduction of the Total Commitment or otherwise, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent, (i) for application to the Loans, first to Swing Line Loans, second to Syndicated Loans, then to Competitive Bid Loans, subject to §5.8, or (ii) if no Loans shall be outstanding, to be held by the Administrative Agent for the benefit of the Banks as collateral security for such excess Maximum Drawing Amount and the Borrower hereby grants a security interest in such amount to the Administrative Agent for the benefit of the Banks; provided, however, that if the amount of cash collateral held by the Administrative Agent pursuant to this §5.2 exceeds the Maximum Drawing Amount required to be collateralized from time to time, the Administrative Agent shall return such excess to the Borrower.
Mandatory Repayments of the Loans. Except as provided in §6.16 hereof, if at any time
Mandatory Repayments of the Loans. If at any time the outstanding amount of the Loans plus the Maximum Drawing Amount of all outstanding Letters of Credit plus unpaid Reimbursement Obligations exceeds the Total Commitment, whether by reduction of the Total Commitment or otherwise, then the Borrowers shall immediately pay the amount of such excess to the Agent for application to the Loans, or if no Loans shall be outstanding, to be held by the Agent as collateral security for the Reimbursement Obligations, provided, however, that if the amount of cash collateral held by the Agent pursuant to this ss.2.9 exceeds the amount of the Obligations the Agent shall return such excess to the Borrowers.
Mandatory Repayments of the Loans. (a) If at any time the sum of the Dollar Equivalents of the outstanding amounts of the Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the Total Commitment (whether as a result of currency fluctuations or otherwise), then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks for application: 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 Section 4.2(b) and (c).
Mandatory Repayments of the Loans. If at any time the sum of the outstanding principal amount of the Loans PLUS the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment, whether by reduction of the Total Commitment or otherwise, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent,
Mandatory Repayments of the Loans. If at any time the outstanding amount of the Loans PLUS the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment, then the Borrowers shall immediately pay the amount of such excess to the Lender (a) for application to the Loans, or (b) if no Loans shall be outstanding, to be held by the Lender as collateral security for the Reimbursement Obligations PROVIDED, HOWEVER, that if the amount of cash collateral held by the Lender pursuant to this section 2.8(b) exceeds the Maximum Drawing Amount, the Lender shall return such excess to the Borrowers.
Mandatory Repayments of the Loans. (a) Immediately upon the occurrence of the Paperchase Sale, the Borrowers shall apply the Net Cash Proceeds up to $25,000,000 received in connection with such sale to prepay the Loans, and as long as no Default or Event of Default shall have occurred and be continuing or would result therefrom, the remainder of such Net Cash Proceeds shall be applied to repay the obligations under the First Lien Credit Facility; (and if a Default or Event of Default shall have occurred and be continuing or would result therefrom, the remainder of such Net Cash Proceeds shall be utilized to prepay the Loans).
Mandatory Repayments of the Loans. If at any time the outstanding --------- ---------- -- --- ----- amount of the Loans plus the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment whether by reduction of the Total Commitment or otherwise, then the Borrowers shall immediately pay the amount of such excess to the Agent (a) for application to the Loans (subject to (S)4.7), or (b) if no Loans shall be outstanding, to be held by the Agent for the benefit of the Banks as collateral security for the Reimbursement Obligations provided, however, that if the amount of cash collateral held by the Agent pursuant to this (S)2.9(b) exceeds the Maximum Drawing Amount, the Agent shall return such excess to the Borrowers.
Mandatory Repayments of the Loans. If at any time (including without limitation by reason of fluctuation in the rate of exchange between the Canadian Dollar and the U.S. Dollar) the sum of the outstanding principal amount of the Loans plus the Maximum Drawing Amount of all outstanding Letters of Credit exceeds the Total Commitment, whether by reduction of the Total Commitment or otherwise, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent, (i) for application to the Loans, first to Syndicated Loans, then to Competitive Bid Loans, subject to §5.8, or (ii) if no Loans shall be outstanding, to be held by the Administrative Agent for the benefit of the Banks as collateral security for such excess Maximum Drawing Amount and the Borrower hereby grants a security interest in such amount to the Administrative Agent for the benefit of the
