Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within five (5) Business Days of the Borrower obtaining knowledge of the occurrence of any such excess, either (A) pay to the Administrative Agent for the account of the Lenders then holding Revolving Commitments (or if the Revolving Commitments have been terminated, then holding outstanding Revolving Loans and/or Letter of Credit Liabilities), the amount of such excess, or (B) deliver a new Borrowing Base Certificate that demonstrates that the outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, do not exceed the Maximum Loan Availability. If such excess is not eliminated (or a new Borrowing Base Certificate is not delivered demonstrating compliance) within five (5) Business Days of the Borrowers obtaining knowledge of the occurrence thereof, then the entire outstanding principal balance of all Loans, together with all accrued interest thereon, and an amount equal to all Letter of Credit Liabilities for deposit into the Letter of Credit Collateral Account, shall be immediately due and payable in full.
Maximum Loan Availability Overadvance. If at any time the Outstanding Amount of all Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within five (5) Business Days of the Borrower obtaining knowledge of the occurrence of any such excess, deliver to the Administrative Agent for prompt distribution to each Lender a written plan to eliminate such excess. If such excess is not eliminated within fifteen (15) days of the Borrower obtaining knowledge of the occurrence thereof, then (unless otherwise approved by the Requisite Lenders) the entire Outstanding Amount of all Loans, together with all accrued interest thereon, and an amount equal to all Letter of Credit Liabilities for deposit into the Letter of Credit Collateral Account, shall be immediately due and payable in full. All payments under this subsection (b)(ii) shall be applied in accordance with Section 11.5(b).
Maximum Loan Availability Overadvance. If at any time the sum of (x) Total Outstandings plus (y) from and after the occurrence of the Permitted Bridge Agreement Transaction, Total Bridge Facility Outstandings exceeds the Borrowing Base (the amount of such excess, the “Loan Availability Overadvance”), Borrower shall, subject to clause (iv) below, immediately upon demand pay to Administrative Agent for the account of the Lenders, the amount of such Loan Availability Overadvance.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within three (3) days of the Borrower obtaining knowledge of the occurrence of any such excess, repay first, the outstanding principal amount of all Revolving Loans and Cash Collateralize any outstanding Letters of Credit and second, the Term Loans, ratably, by such excess. Any sums repaid in connection with the immediately preceding sentence in respect of the Revolving Loans can be reborrowed provided the Maximum Loan Availability supports such borrowing.
Maximum Loan Availability Overadvance. If at any time the Total Outstandings exceeds the Borrowing Base (the amount of such excess, the “Loan Availability Overadvance”), Borrower shall immediately upon demand pay to Administrative Agent for the account of the Lenders, the amount of such Loan Availability Overadvance.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans exceeds the Maximum Loan Availability, the Borrowers shall within ten (10) Business Days of the Borrowers obtaining knowledge of the occurrence of any such excess, either (A) pay to the Administrative Agent for the account of the Lenders then holding Term Loans, the amount of such excess, or (B) deposit with Administrative Agent cash collateral to be held in a blocked collateral account controlled by Administrative Agent (the “Collateral Account”) in an amount sufficient to cover the amount of such excess; provided, however, if at the end of the fiscal quarter following the date such sums were deposited into the Collateral Account the aggregate principal amount of all outstanding Loans continues to exceed the Maximum Loan Availability, then Administrative Agent may apply all amounts then on deposit in the Collateral Account to pay down the principal outstanding under the Loans; provided further, however, if at the end of the fiscal quarter following the date such cash collateral was deposited into the Collateral Account pursuant to the foregoing, the Maximum Loan Availability increases in an amount necessary to reach or exceed the aggregate principal amount of all outstanding Loans, then provided there does not then exist a Default, any funds remaining in the Collateral Account (including any accrued interest, if applicable), shall thereafter be promptly released to Borrowers. Amounts repaid pursuant to this Section 2.9 may not be reborrowed.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrowers shall within five (5) Business Days of the Borrowers obtaining knowledge of the occurrence of any such excess, pay to the Administrative Agent for the account of the Lenders then holding Revolving Commitments (or if the Revolving Commitments have been terminated, then holding outstanding Revolving Loans and/or Letter of Credit Liabilities), the amount of such excess. If such excess is not eliminated within five (5) Business Days of the Borrowers obtaining knowledge of the occurrence thereof, then the entire outstanding principal balance of all Loans, together with all accrued interest thereon, and an amount equal to all Letter of Credit Liabilities for deposit into the Letter of Credit Collateral Account, shall be immediately due and payable in full.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Borrowing Base, the Borrower shall within 5 days of the Borrower obtaining knowledge of the occurrence of any such excess, pay to the Administrative Agent for the account of the Lenders and the Issuing Bank, an amount equal to such excess. Such payment shall be applied in the following order: first, to the principal outstanding on the Swingline Loans; second, to the principal outstanding on the Revolving Loans and any due and unpaid Reimbursement Obligations, pro rata in accordance with Section 3.2.; and third, if any Letters of Credit are outstanding at such time, the remainder, if any, shall be deposited into the Letter of Credit Collateral Account for application to any Reimbursement Obligations. If the Borrower is required to pay any outstanding LIBOR Loans by reason of this Section prior to the end of the applicable Interest Period therefor, the Borrower shall pay all amounts due under Section 5.4.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Revolving Loans exceeds the Maximum Loan Availability, the Borrower shall, within 30 days of the earlier of (A) receipt by the Borrower of notice from the Administrative Agent stating that such excess exists or (B) the date the Borrower delivers (or was required to deliver) a Borrowing Base Certificate indicating the existence of such excess, deliver to the Administrative Agent for prompt distribution to each Lender a written plan acceptable to all of the Lenders to eliminate such excess. If such excess is not eliminated within ninety (90) days of the earlier of receipt by the Borrower of such notice or the date the Borrower delivers (or was required to deliver) such Borrowing Base Certificate, an Event of Default shall be deemed to have occurred hereunder. All payments under this subsection (b)(ii) shall be applied to pay all amounts of excess principal outstanding on the applicable Revolving Loans in accordance with the last sentence of Section 3.2., and the remainder, if any, shall be paid to the Borrower or whomever else may be legally entitled to such remainder.
Maximum Loan Availability Overadvance. If at any time the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceeds the Maximum Loan Availability, the Borrower shall within 5 Business Days of a Responsible Officer of the Parent or the Borrower obtaining knowledge of the occurrence of any such excess either (i) pay to the Administrative Agent for the account of the Lenders then holding Commitments (or if the Commitments have been terminated, then holding outstanding Loans and/or Letter of Credit Liabilities), the amount of such excess or (ii) deliver to the Administrative Agent for prompt distribution to each Lender notice of the Borrower’s intent to eliminate such excess by adding one or more Properties as Unencumbered Borrowing Base Properties in accordance with the final paragraph of Section 4.1.(b) within 10 Business Days of such Responsible Officer obtaining knowledge of such excess. If such excess is not eliminated in accordance with this subsection (b)(ii), then the entire outstanding principal balance of all Loans, together with all accrued interest thereon, and an amount equal to all Letter of Credit Liabilities for deposit into the Letter of Credit Collateral Account, shall be immediately due and payable in full.
