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
(a) the sum of (i) the outstanding L/C Obligations at such time, plus (ii) the outstanding principal amount of the Domestic Loans at such time, exceeds the Total Domestic Commitment then in effect, whether by reduction of the Total Domestic Commitment or otherwise, or
(b) the sum of (i) the outstanding principal amount of the Canadian Loans denominated in U.S. Dollars at such time, plus (ii) the Outstanding Amount of the Canadian Loans denominated in Canadian Dollars at such time, plus (iii) the Outstanding Amount of Bankers’ Acceptances at such time, exceeds the Total Canadian Commitment then in effect, whether by reduction of the Total Canadian Commitment or otherwise, or
(c) the sum of (i) the outstanding principal amount of the U.K. Loans denominated in U.S. Dollars at such time, plus (ii) the Outstanding Amount of the U.K. Loans denominated in Sterling at such time, plus (iii) the Outstanding Amount of the U.K. Loans denominated in Euros at such time, exceeds the Total U.K. Commitment then in effect, whether by reduction of the Total U.K. Commitment or otherwise, or
(d) the sum of the outstanding principal amount of the PR Loans at such time exceeds the Total PR Commitment then in effect, whether by reduction of the Total PR Commitment or otherwise, then the applicable Borrower(s) shall immediately pay the amount of such excess to the Administrative Agent in the case of clauses (a) and (d) above, the Canadian Agent, in the case of clause (b) above, or the U.K. Agent, in the case of clause (c) above, (A) for application to the Loans in the following order: first, pro rata to any Unreimbursed Amounts (including any L/C Borrowings) with respect to the Letters of Credit issued for the account of such Borrower (if applicable), second, pro rata to Domestic Swing Line Loans, Canadian Swing Line Loans, and U.K. Swing Line Loans, and third, pro rata to Domestic Loans (other than Domestic Swing Line Loans), Canadian Loans (other than Canadian Swing Line Loans), U.K. Loans (other than U.K. Swing Line Loans) and PR Loans, subject to §6.10, or (B) if no Loans shall be outstanding, to be held pro rata by the Administrative Agent (in the case of Letters of Credit) and the Canadian Agent (in the case of Bankers’ Acceptances) for the benefit of the Issuing Bank or the Domestic Banks (as the case may be) in the case of Letters of Credit and/or the Canadian Banks in the case of Bankers’ Acceptances, as applicable, as co...
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 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.
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).
(i) Immediately upon the sale or disposition of any Term Priority Collateral resulting in Net Cash Proceeds in excess of $50,000, except as provided in Section 3.2(c), the Borrowers shall apply all of the Net Cash Proceeds received in connection therewith to prepay the Loans, and (ii) quarterly, on the first day of each fiscal quarter, except as provided in Section 3.2(c), the Borrowers shall prepay the Loans in an amount equal to all of the Net Cash Proceeds received in connection with any other sales or dispositions of any Term Priority Collateral during the immediately preceding fiscal quarter.
(c) Upon any casualty, condemnation or eminent domain proceeding relating to any furniture, fixtures and equipment constituting Term Priority Collateral, as long as no Event of Default shall have occurred and be continuing, the Borrowers shall deposit the Net Cash Proceeds therefrom into the Term Loan Priority Account. Such Net Cash Proceeds shall be applied to prepay the Loans, if (i) a Default or Event of Default thereafter arises, or (ii) to the extent that any portion of the Net Cash Proceeds of such casualty, condemnation or eminent domain proceeding have not been reinvested by the Borrowers within 180 days after the receipt of such Net Cash Proceeds to repair or replace the relevant asset.
(d) Unless sooner paid, the principal amount of the FIFO Loans shall be repaid in equal monthly installments of $2,500,000 each on the first day of September, October, November and December, 2010.
(e) Any repayment of the FILO Loans under this Section 3.2 shall be accompanied by a make-whole payment in the amount set forth in Section 3.3 hereof, provided that to the extent that the Loans prior to the occurrence of an Event of Default are prepaid as a result of either the Paperchase Sale or the sale or disposition of furniture, fixtures or equipment or any casualty, condemnation or emi...
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 §4.2(b) and (c).
(b) 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 Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.
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 Section 2.9 exceeds the amount of the Obligations the Agent shall return such excess to the Borrowers.
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. 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 ss.2.8
Mandatory Repayments of the Loans. (a) If at any time the sum of the Dollar Equivalents of the outstanding amounts of the Loans under Revolving Credit Facility A, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the Revolving Credit A Commitment (whether as a result of currency fluctuations or otherwise), then the Borrowers shall immediately pay the amount of such excess to the Bank for application: first, to any Unpaid Reimbursement Obligations; second, to the Loans; and third, to provide the Bank cash collateral for Reimbursement Obligations as contemplated by §4.2(b) and (c).
(b) If at any time the sum of the Dollar Equivalents of the outstanding amounts of the Loans under Revolving Credit Facility B and the Foreign Exchange Exposure, as determined by the Bank, exceeds the Revolving Credit B Commitment (whether as a result of currency fluctuations or otherwise), then the Borrowers shall immediately pay the amount of such excess to the Bank for application to the Loans.
