Common use of Notice; Manner of Payment Clause in Contracts

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (vi) above, the Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, pursuant to Section 4.4 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 3 contracts

Samples: Credit Agreement (Aci Worldwide, Inc.), Credit Agreement (Aci Worldwide, Inc.), Credit Agreement (Aci Worldwide, Inc.)

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Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (viiv) above, the Parent Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: (i) first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, pursuant to Section 4.4 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Aci Worldwide, Inc.), Credit Agreement (Aci Worldwide, Inc.)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (viv) above, the Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section 4.4 shall be applied as follows: first, to reduce on a pro rata basis in inverse order to maturity the remaining scheduled principal installments of the Term LoansLoan, pursuant to Section 4.4 4.3 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f2.4(d), without a corresponding reduction in the Revolving Credit Commitment.. 43360385_8

Appears in 1 contract

Samples: Credit Agreement (Merit Medical Systems Inc)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (iSection 2.06(e)(i) through and including (vi) aboveSection 2.06(e)(iv), the Borrower shall promptly deliver a Notice of Prepayment give written notice to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section 2.06(e) shall be applied as follows: first, to reduce on a pro rata basis to in inverse order of maturity the remaining scheduled principal installments of the Term Loans, Loan pursuant to Section 4.4 2.08(c) and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f), 2.06(d)(ii) to prepay the outstanding principal amount of the Revolving Credit Loans without a corresponding reduction in of the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Blue Rhino Corp)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (viiii) above, the Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, pursuant to Section 4.4 Loans due in the next 4 Fiscal Quarters and thereafter on a pro rata basis and (ii) second, to the extent of any excess, to repay the Revolving Loans or cash collateralize the Letter of Credit Loans pursuant to Section 2.4(f), Accommodations without a corresponding reduction in the Revolving Credit Loan Commitment.

Appears in 1 contract

Samples: Credit Agreement (Imax Corp)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (viiv) above, the Parent Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, pursuant to Section 4.4 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Aci Worldwide, Inc.)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (i) through and including (viv) above, the Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and and, upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, pursuant to Section 4.4 4.3 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f2.3(d), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Wingstop Inc.)

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Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (iSections 2.06(e)(i) through and including (vi) above2.06(e)(ii), the Borrower shall promptly deliver a Notice of Prepayment give written notice to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section 2.06(e) shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term LoansLoan, pursuant to Section 4.4 2.08(c) and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans Loans, pursuant to Section 2.4(f2.06(d)(ii), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Medcath Corp)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses clause (i) through and including (viiii) above, the Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term LoansLoan, pursuant to Section 4.4 4.3 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f2.4(d), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Supreme Industries Inc)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (iSections 4.5(a) through and including (vi) above4.5(d), the Borrower shall promptly deliver a Notice give prompt written notice of Prepayment such event and the amount of the corresponding prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each mandatory prepayment of the Loans under this Section 4.5 shall be applied as follows: (i) first, to reduce on a pro rata PRO RATA basis to the remaining scheduled principal installments of the Term Loans, pursuant to Loans under Section 4.4 4.3 and (ii) second, to the extent of any excess, to repay permanently reduce the Revolving Credit Loans Commitment pursuant to Section 2.4(f2.5(b), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Marshall Industries)

Notice; Manner of Payment. Upon the occurrence of any event triggering the prepayment requirement under clauses (iSections 4.4(b)(i) through and including (vi) above4.4(b)(iv), the Domestic Borrower shall promptly deliver a Notice of Prepayment to the Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this Section 4.4(b) shall be applied as follows: first, to reduce on a pro rata basis to the remaining scheduled principal installments of the Term Loans, Loans pursuant to Section 4.4 4.3 and (ii) second, to the extent of any excess, to repay the Revolving Credit Loans pursuant to Section 2.4(f2.6(d), without a corresponding reduction in the Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (G&k Services Inc)

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