Common use of Mandatory Repayments Clause in Contracts

Mandatory Repayments. (i) The Administrative Agent shall calculate the aggregate outstanding principal amount of Loans outstanding on (A) the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment. (ii) Each Borrower shall repay to the relevant Bank (which shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereof.

Mandatory Repayments. (ia) The Administrative Agent shall calculate On any day on which the sum of the aggregate outstanding principal amount of the Loans outstanding on (A) plus the date four Business Days aggregate Letter of Credit Outstandings exceeds the Total Commitment as then in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loanseffect, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the Borrower shall prepay principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the an amount equal to such excess. If, after giving effect to the product prepayment of 105% and all outstanding Loans, as set forth above, the Letter of Credit Outstandings exceeds the Total Commitment, the Borrowers jointly and severally Borrower shall immediately following notice from the Administrative Agent thereof prepay pay to the Administrative Agent at the Payment Office on such date an amount of cash and/or cash equivalents equal to the difference between the amount of such excess, such cash and/or cash equivalents to be held as security for all obligations of the Loans (as calculated above) and the Total Commitment. (ii) Each Borrower shall repay to the relevant Bank (which shall promptly furnish notice thereof Banks hereunder in a cash collateral account to be established by the Administrative Agent on terms reasonably satisfactory to the Administrative Agent. (b) With respect to each repayment of Loans required by this Section 3.02, the unpaid principal Borrower may designate the Types of Loans which are to be repaid and, in the case of Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which made, provided that: (i) if any repayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than $5,000,000 such Borrowing shall be converted immediately into a Borrowing of Base Rate Loans and (ii) each Competitive Bid Loan repayment of Loans made pursuant to the same Borrowing shall be applied pro rata among the Banks which made such Loans. In the absence of a designation by such Bank hereunder on the maturity date with respect thereto and shall repay to Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the unpaid principal amount of each Syndicated Loan on the dates as provided hereinabove, make such designation in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofits sole discretion.

Mandatory Repayments. (a) On any day on which the Aggregate Exposure (after giving effect to all other repayments thereof on such date) exceeds the Total Available Commitment at such time due to any mandatory reductions of Commitments made pursuant to Section 3.03, and within two (2) Business Days for any other event causing the Aggregate Exposure (after giving effect to all other repayment thereof as such date) to exceed the Total Available Commitment at such time (including as a consequence of currency exchange rate fluctuations), the Borrower shall repay on such date the principal of Loans in an amount equal to such excess. (b) With respect to each repayment of Loans required by this Section 4.02, the Borrower may designate the specific Borrowing or Borrowings pursuant to which such Loans were made, provided that (i) The Administrative Agent shall calculate the aggregate outstanding principal amount repayments of Loans outstanding pursuant to this Section 4.02 may only be made on (A) the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and (Eii) the last Business Day each repayment of any MarchLoans comprising a Borrowing shall be applied pro rata among such Loans. In the absence of a designation by the Borrower as described in the preceding sentence, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iic) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.

Mandatory Repayments. (ia) The Administrative Agent shall calculate On any day on which the aggregate outstanding principal amount of all Loans outstanding (after giving effect to all other repayments thereof on (Asuch date) exceeds the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR LoansTotal Loan Commitment at such time, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last Borrower shall prepay on such day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the an amount equal to such excess. (b) In the product event that a Borrowing Base Deficiency exists (whether established by an Monthly Statement, Borrowing Base Certificate or otherwise), within three (3) Business Days of 105% and the Total Commitmenttime that a Borrowing Base calculation was delivered or required to be delivered, the Borrowers jointly and severally Borrower shall immediately following notice from the Administrative Agent thereof prepay pay to the Administrative Agent the amount equal to the difference between the amount without demand or notice of the Loans (as calculated above) and the Total Commitment. (ii) Each Borrower shall repay to the relevant Bank (which shall promptly furnish notice thereof to any kind required, unless waived in writing by the Administrative Agent) , the unpaid principal amount of each Competitive Bid Loan made by necessary to cure such Bank hereunder on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each caseBorrowing Base Deficiency, together with all accrued interest on the amount so paid and unpaid interest thereonany fees and costs incurred in connection therewith; provided that any such payment shall not be included in any calculation of the Available Basket Amount. Upon obtaining knowledge Notwithstanding Section 2.14, any such payment shall be applied first, to the extent of an Event such payment, to the Loan until its outstanding principal amount is reduced to zero. Any prepayment amounts payable under this Section 5.02(b) shall be applied to the payment of Defaultthe outstanding principal amount of the Loans until their outstanding principal amount is reduced to zero; provided, a Potential Event that any such mandatory prepayment of DefaultLoans shall not reduce Lenders’ Loan Commitments under this Agreement and may be reborrowed, or subject to the terms and conditions hereof for borrowing under the Loan. (c) In addition to any other default with respect mandatory repayments pursuant to a Competitive Bid Loanthis Section 5.02, all then outstanding Loans shall be repaid in full on the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofTermination Date.

Mandatory Repayments. (a) On any day on which the Aggregate Exposure (after giving effect to all other repayments thereof on such date) exceeds the lesser of (i) The Administrative Agent the then applicable Total Commitment and (ii) the then applicable Available Commitment due to any mandatory reductions of Revolving Loan Commitments made pursuant to Section 3.03, and within two (2) Business Days for any other event causing the Aggregate Exposure (after giving effect to all other repayment thereof as such date) to exceed the lesser of (i) the then applicable Total Commitment and (ii) the then applicable Available Commitment (including as a consequence of currency exchange rate fluctuations), the Borrowers shall calculate repay on such date the aggregate outstanding principal amount of Loans outstanding in an amount equal to such excess. (b) With respect to each repayment of Loans required by this Section 4.02, the Borrowers may designate the specific Borrowing or Borrowings pursuant to which such Loans were made, provided that (i) repayments of Loans pursuant to this Section 4.02 may only be made on (A) the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and (Eii) the last Business Day each repayment of any March, June, September or December, Loans comprising a Borrowing shall be applied pro rata among such Loans. In the absence of a designation by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from as described in the preceding sentence, the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iic) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.

Mandatory Repayments. (i) The Administrative Agent shall calculate the aggregate outstanding principal amount of Loans outstanding Total Outstanding Amount on (A) the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans Total Outstanding Amount on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) Total Outstanding Amount and the Total Commitment. (ii) Each Borrower shall repay to the relevant Bank (which shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereof.

Mandatory Repayments. (ia) The Administrative Agent shall calculate On any day on which the aggregate outstanding principal amount of Loans outstanding (after giving effect to all other repayments thereof on (Asuch date) exceeds the Total Commitment at such time, the Borrower shall repay on such date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars an amount equal to such excess. (b) Subject to the penultimate paragraph of Section 6, on any day prior to the Zonda Mortgage Date and (y) the Currency Equivalent in Dollars Satisfaction of the principal amount of Loans denominated in each Alternative Currency. If Satisfactory Drilling Contract Condition on which the aggregate outstanding principal amount of Loans (after giving effect to all other repayments thereof on any such date) exceeds $350,000,000, the Borrower shall repay on such date exceeds the principal of Loans in an amount equal to the product such excess. (c) With respect to each repayment of 105% and the Total CommitmentLoans required by this Section 4.02, the Borrowers jointly Borrower may designate the specific Borrowing or Borrowings to which such repayment shall apply, provided that (i) repayments of Loans pursuant to this Section 4.02 may only be made on the last day of an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and severally (ii) each repayment of Loans made pursuant to a Borrowing shall immediately following notice from be applied pro rata among such Loans. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iid) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.

Mandatory Repayments. (i) The Administrative Borrower shall prepay the Term Loan and/or the Acquisition Line Advances in amounts equal to fifty percent (50%) of Borrower's Excess Cash Flow with respect to each Fiscal Year of Borrower during the term hereof, such prepayments to be made within five (5) Business Days following the due date for delivery by Borrower to Agent of the annual financial statements required by Section 4.1 hereof and each such prepayment shall calculate be applied to the aggregate outstanding installments ----------- of principal amount due under Note A, Note B, Note C and the Acquisition Line Notes (allocated among Note A, Note B, Note C and the Acquisition Line Notes in proportion to the relative principal amounts of Loans outstanding on (Aunder each) in the date four Business Days inverse order of their respective maturities until payment thereof in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any Interest Period and (E) the last Business Day of any March, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitmentfull. (ii) Each Borrower shall repay to the relevant Bank Immediately upon receipt by any Loan Party of Net Proceeds of any asset disposition (which shall promptly furnish notice thereof include, without limitation, any sale of assets or properties or any loss, destruction or condemnation thereof, except as otherwise provided in Section 5.5) or any sale of Stock or debt securities of ----------- any Subsidiary or Loan Party, Borrower shall prepay the Loans as and when received by Borrower as a mandatory prepayment of the Loans an amount equal to the Administrative Agentgreater of (x) the unpaid principal amount Net Proceeds received by Borrower from such sale or disposition or (y) the depreciated value of each Competitive Bid Loan made by such Bank hereunder on the maturity date with respect thereto and assets or properties according to Agent's internal analysis. Each such prepayment shall repay be applied to the Administrative Agent installments of principal due under Note A, Note B, Note C and the unpaid Acquisition Line Notes (allocated among Note A, Note B, Note C and the Acquisition Line Notes in proportion to the relative principal amount amounts of each Syndicated Loan on Loans outstanding under each) in the dates as provided herein, inverse order of their respective maturities until payment thereof in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereoffull.

Mandatory Repayments. (a) On any day on which the Aggregate Exposure (after giving effect to all other repayments thereof on such date) exceeds the Total Commitment at such time due to any mandatory reductions of Commitments made pursuant to Section 3.03, and within two (2) Business Days for any other event causing the Aggregate Exposure (after giving effect to all other repayment thereof as such date) to exceed the Total Commitment at such time, the Borrower shall repay on such date the principal of Loans in an amount equal to such excess. (b) With respect to each repayment of Loans required by this Section 4.02, the Borrower may designate the specific Borrowing or Borrowings pursuant to which such Loans were made, provided that (i) The Administrative Agent shall calculate the aggregate outstanding principal amount repayments of Loans outstanding pursuant to this Section 4.02 may only be made on (A) the date four Business Days in advance of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR Loans, (B) the date one Business Day in advance of a proposed Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate Loans, (C) the date of any Redenomination, (D) the last day of any an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and (Eii) the last Business Day each repayment of any MarchLoans comprising a Borrowing shall be applied pro rata among such Loans. In the absence of a designation by the Borrower as described in the preceding sentence, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iic) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.

Mandatory Repayments. (ia) The Administrative Agent shall calculate On any day on which the sum of (I) the aggregate outstanding principal amount of Loans outstanding (after giving effect to all other repayments thereof on such date) and (AII) the aggregate amount of all Letter of Credit Outstandings exceeds the Total Commitment at such time, the Borrower shall repay on such date four Business Days the principal of Loans in advance an amount equal to such excess. If, after giving effect to the repayment of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR all outstanding Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Commitment at such time, 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 (Bup 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. (b) With respect to each repayment of Loans required by this Section 4.02, the date one Business Day in advance of a proposed Borrower may designate the specific Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate LoansBorrowings, provided that, (Ci) the date repayments of any Redenomination, (D) Loans pursuant to this Section 4.02 may only be made on the last day of any an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and (Eii) the last Business Day each repayment of any MarchLoans made pursuant to a Borrowing shall be applied pro rata among such Loans. In the absence of a designation by the Borrower as described in the preceding sentence, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iic) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.

Mandatory Repayments. (ia) The Administrative Agent shall calculate On any day on which the sum of (I) the aggregate outstanding principal amount of Loans outstanding (after giving effect to all other repayments thereof on such date) and (AII) the aggregate amount of all Letters of Credit Outstanding exceeds the Total Commitment at such time, the Borrower shall repay on such date four Business Days the principal of Loans in advance an amount equal to such excess. If, after giving effect to the repayment of any proposed Borrowing consisting of Eurocurrency Rate Loans or Competitive Bid LIBOR all outstanding Loans, the aggregate amount of the Letters of Credit Outstanding exceeds the Total Commitment at such time, 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 (Bup to a maximum amount equal to the Letters of Credit Outstanding 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. (b) With respect to each repayment of Loans required by this Section 4.02, the date one Business Day in advance of a proposed Borrower may designate the specific Borrowing consisting of Base Rate Loans or Competitive Bid Absolute Rate LoansBorrowings, provided that, (Ci) the date repayments of any Redenomination, (D) Loans pursuant to this Section 4.02 may only be made on the last day of any an Interest Period applicable thereto unless all Loans with Interest Periods ending on such date of required repayment have been paid in full and (Eii) the last Business Day each repayment of any MarchLoans made pursuant to a Borrowing shall be applied pro rata among such Loans. In the absence of a designation by the Borrower as described in the preceding sentence, June, September or December, by adding (x) the principal amount of Loans denominated in Dollars and (y) the Currency Equivalent in Dollars of the principal amount of Loans denominated in each Alternative Currency. If the aggregate outstanding principal amount of Loans on any such date exceeds the amount equal to the product of 105% and the Total Commitment, the Borrowers jointly and severally shall immediately following notice from the Administrative Agent thereof prepay shall, subject to the Administrative Agent the amount equal to the difference between the amount of the Loans (as calculated above) and the Total Commitment, make such designation in its sole discretion. (iic) Each Borrower shall repay Notwithstanding anything to the relevant Bank (which contrary contained elsewhere in this Agreement, all then outstanding Loans shall promptly furnish notice thereof to the Administrative Agent) the unpaid principal amount of each Competitive Bid Loan made by such Bank hereunder be repaid in full on the maturity date with respect thereto and shall repay to the Administrative Agent the unpaid principal amount of each Syndicated Loan on the dates as provided herein, in each case, together with all accrued and unpaid interest thereon. Upon obtaining knowledge of an Event of Default, a Potential Event of Default, or any other default with respect to a Competitive Bid Loan, the Bank which made such Competitive Bid Loan shall notify the Administrative Agent thereofMaturity Date.