Mandatory Term Loan Prepayments. (i) If the Company or any of its Subsidiaries receives any Net Cash Proceeds from any Casualty Event or Disposition (other than (1) any Disposition of any property permitted by Sections 7.05(a), (b), (c), (d), (e), (f), (g), (i), (j) and (k) and (2) any Disposition or Casualty Event resulting in aggregate Net Cash Proceeds not exceeding $7,500,000 in the case of any single transaction or series of related transactions), the Company shall cause to be offered to be prepaid in accordance with clause (v) below, an aggregate principal amount of Term Loans equal to 100% of such Net Cash Proceeds within ten (10) Business Days of receipt thereof by such Person; provided that, with respect to any Net Cash Proceeds realized under a Disposition described in this Section 2.05(b)(i), at the election of the Company (as notified by the Company to the Administrative Agent within ten (10) Business Days of receipt thereof), and so long as no Default shall have occurred and be continuing, the Company or such Subsidiary may reinvest all or any portion of such Net Cash Proceeds in assets useful in the business of the Company or its Subsidiaries within 12 months of receipt of such Net Cash Proceeds (it being understood that if any portion of such proceeds are not so used within such 12-month period but within such 12-month period are contractually committed to be used, then upon the termination of such contract or if such Net Cash Proceeds are not so used within 18 months of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of such termination or expiry and shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.05(b)(i)); provided, however, that any Net Cash Proceeds not subject to such definitive agreement or so reinvested shall be immediately applied to the prepayment of the Loans as set forth in this Section 2.05(b)(i).
Mandatory Term Loan Prepayments. So long as any of the Term Loans are outstanding and unpaid, on the earlier of the date which is fifteen (15) days after (a) the date on which the U.S. Borrower's annual audited financial statements for the immediately preceding Fiscal Year are delivered pursuant to Section 4.2 hereof, or (b) the date on which such annual audited financial statements were required to be delivered pursuant to Section 4.2 hereof, the U.S. Borrower shall prepay the Term Loans in an amount equal to seventy-five percent (75%) of Excess Cash Flow for such immediately preceding Fiscal Year. Each such prepayment shall be accompanied by a certificate signed by the U.S. Borrower's chief financial officer certifying the manner in which such Excess Cash Flow and the resulting prepayment of the Term Loans were calculated, which certificate shall be in form and substance satisfactory to Lender. Any prepayment made by the U.S. Borrower under this Section 2.4 shall be applied, first, to prepay Term Loan B until fully paid, then to pay the scheduled installments of Term Loan A in inverse order of maturity until such Loan shall have been prepaid in full, and then to prepay the scheduled installments of the CAD Term Loan in inverse order of maturity until such Loan has been prepaid in full.
Mandatory Term Loan Prepayments. 33 5.5 Conversion and Continuation Options............................. 35 5.6 Minimum Amounts and Maximum Number of Eurodollar and Offshore Currency Tranches............................................. 36 5.7 Interest Rates and Payment Dates................................ 36 5.8 Computation of Interest and Fees................................ 37 5.9 Inability to Determine Interest Rate............................ 37 5.10 Pro Rata Treatment and Payments................................ 38 5.11
Mandatory Term Loan Prepayments. Upon receipt of proceeds from an Asset Disposition, Borrower shall, without notice or demand of any kind, immediately pay to the Bank an amount greater than or equal to 100% of the net cash proceeds resulting from such Disposition, and such amount shall be applied to the then-outstanding Term Loan balance. In lieu of making Term Loan pre-payments in the foregoing-computed amount, Borrower shall be permitted to pre-pay Capex and/or Revolving Loans in the same amount if such amount of the Capex and/or Revolving Loans is then outstanding.
Mandatory Term Loan Prepayments. 25 2.5 Payments to be Made Free of Taxes.........................25 2.6 Failure to Pay in Foreign Currency........................26 2.7
Mandatory Term Loan Prepayments. (i) On or before the 105th day after each September 30th, commencing on September 30, 1997, the Company shall deliver to each Lender the Company's calculation of its Excess Cash Flow for the Fiscal Year ended on such September 30th; provided that for purposes of this Section 2.10(b), the period ending on September 30, 1997, shall begin on August 22, 1996 and end on September 30, 1997. On the third day after delivery of the notice provided above, but in no event later than the 108th day after each September 30th, commencing September 30, 1997, the Company shall prepay (by payment to the Administrative Agent for distribution to the Term Loan Lenders as provided below) an aggregate principal amount of Term Loans equal to (A) 75% of Excess Cash Flow for any Fiscal Year (or other applicable period as provided above) if, as of the last day of the applicable Fiscal Year, the aggregate principal amount of the Tranche A Term Loans and the Tranche B Term Loans is equal to or greater than $203,000,000, and (B) 50% of Excess Cash Flow for any Fiscal Year thereafter (provided that, other Indebtedness of the Company and its Subsidiaries has not been used to effect such repayment of Term Loans); and, in the case of (A) and (B) above, less the amount of any voluntary prepayments of Term Loans made by the Company as permitted in Subsection 2.10(c) during such Fiscal Year (or other applicable period).
Mandatory Term Loan Prepayments. (1) On or before each April 15th, commencing on April 15, 1999, the Company shall deliver to the Administrative Agent the Company's calculation of its Consolidated Excess Cash Flow for the Fiscal Year ended on the previous December 31st. On the third day after delivery of the notice provided above, but in no event later than April 18th, the Company shall prepay (by payment to the Administrative Agent for distribution to the Term Loan Lenders as provided below) an aggregate principal amount of Term Loans equal to 50% of Consolidated Excess Cash Flow for any Fiscal Year (or other applicable period as provided above) less the amount of any voluntary prepayments of Term Loans made by the Company as permitted in Section 2.10(c) during such Fiscal Year (or other applicable period) (provided, that other Indebtedness of the Company and its Subsidiaries has not been used to effect such repayment of Term Loans).
Mandatory Term Loan Prepayments. Upon receipt of proceeds from an Asset Disposition, Borrower shall, without notice or demand of any kind, immediately pay to the Bank an amount greater than or equal to 100% of the net cash proceeds resulting from such Disposition, and such amount shall be applied to the then-outstanding Term Loan balance. In lieu of making Term Loan pre-payments in the foregoing-computed amount, Borrower shall be permitted to pre-pay Capex and/or Revolving Loans in the same amount if such amount of the Capex and/or Revolving Loans is then outstanding. If Borrower has generated Excess Cash Flow during any calendar year that this Agreement remains in effect (commencing September 4, 2009 – December 31, 2009, and each calendar year thereafter), then seventy-five percent (75%) of that Excess Cash Flow shall constitute a required Mandatory Term Loan Prepayment, Borrower shall, without notice or demand of any kind, pay to the Bank seventy-five percent (75%) of such Excess Cash Flow within one hundred twenty (120) days after the end of each such calendar year, and such amount shall be applied to the then-outstanding Term Loan balance. Notwithstanding the foregoing, in calendar year 2010 and in each calendar year thereafter, such Excess Cash Flow payment shall not be required if, on December 31 of each such calendar year, the Indebtedness of Borrower to Bank does not exceed the aggregate of 80% of the value of Borrower’s Accounts Receivable plus 50% of the value of Borrower’s Inventory plus 80% of the appraised fair market value of Borrower’s owned Equipment.
Mandatory Term Loan Prepayments. (a) In the event of an Asset Disposition by the Borrower or the General Partner, the Borrower shall, within five Business Days of such Asset Disposition, prepay an aggregate principal amount of the Term Loan equal to the amount of Net Proceeds received by the Borrower or the General Partner, as the case may be; provided that this prepayment requirement shall not apply (i) to that portion of such Net Proceeds which, when aggregated with the Net Proceeds from any other Asset Disposition made by the Borrower and the General Partner in the same Fiscal Year in respect of which payment has not been made pursuant to this Section 2.7(1)(a), is less than $250,000, or (ii) to that portion of such Net Proceeds (other than insurance proceeds) used or committed by the Borrower or the General Partner to purchase replacement assets or other equipment necessary for the Borrower’s or the General Partner’s business within 365 days of such Asset Disposition if prior to such Asset Disposition, the Borrower has notified the Administrative Agent of its intention to apply the Net Proceeds in such manner.
Mandatory Term Loan Prepayments. (a) Unless the Required Prepayment Lenders shall otherwise agree, if after the Closing Date any Capital Stock of Packard shall be sold or issued by Packard (other than in connection with any sale or issuance of Capital Stock of Packard, or options exercisable for the purchase of such Capital Stock, made to the officers, employees or directors of Packard or any of its Subsidiaries, to the extent the aggregate Net Cash Proceeds thereof do not exceed $2,000,000 in any fiscal year of Packard), an amount equal to 50% of the Net Cash Proceeds thereof shall be applied on the date of such sale or issuance toward the prepayment of the Term Loans as set forth in Section 5.4(e).
