Other Mandatory Prepayment Clause Samples
Other Mandatory Prepayment. If the Aircraft is sold by the Borrower, or [*], the Borrower shall, on or prior to the date of such sale or the [*], pay to the Agent for the benefit of the Lenders an amount equal to the sum of:
(A) the outstanding principal amount of the Loan,
(B) all interest accrued on the amount specified in clause (A),
(C) any and all Prepayment Compensation and Liquidity Breakage, as applicable, in respect of such prepayment,
(D) any and all amounts owing pursuant to Section 2.10 hereof in respect of such prepayment, and
(E) any and all other amounts owing to the Lenders and the Agent hereunder or under the Notes as of the date of prepayment.
Other Mandatory Prepayment. The Borrower shall make payments of Borrowings to the extent required pursuant to Section 10.4(m). Each prepayment of Borrowings pursuant to this Section 5.2(f) shall be applied in accordance with Section 5.2(c). Each prepayment pursuant to this Section 5.2(f) shall be accompanied by accrued interest to the extent required by Section 2.8
Other Mandatory Prepayment. If the Designated Party notifies the Agent in writing prior to December 15, 1998 (which notice states that the Designated Party has given such notice simultaneously to the Borrower) that the aggregate amount of the purchases by the Borrower, IVOSC, Hall (Canada) and VSC from the Designated Party of goods and products of every kind whatsoever for the 12-month period ending November 30, 1998 was less than $27,000,000, the Borrower shall make a mandatory prepayment of the Loans in the aggregate amount of $500,000 on December 15,1998 (which prepayment shall be in addition to the regularly scheduled installment of $500,000 due on December 15, 1998 pursuant to Section 2.01(c)). The Agent shall not have any duty to inquire into or verify the accuracy of any such notice it receives from the Designated Party, notwithstanding any dispute thereof by the Borrower. Such prepayment shall be applied to the Loans in the inverse order of maturity. Such prepayment shall be subject to Section 4.05 but shall otherwise be without premium or penalty.
Other Mandatory Prepayment. If on any Business Day, other than as a result of an adjustment to the Borrowing Base pursuant to Section 2.14(b), Section 2.14(e) or Section 9.14(c) or termination or reduction of the Commitments pursuant to Section 4.2(a), the aggregate Total Exposure of all of the Lenders exceeds the Loan Limit then in effect, the Borrower shall prepay the Borrowings on or before the third Business Day following such date in an amount equal to such excess. Each prepayment of Borrowings pursuant to this Section 5.2(f) shall be applied in accordance with Section 5.2(c). Prepayments pursuant to this Section 5.2(f) shall be accompanied by accrued interest to the extent required by Section 2.8.
Other Mandatory Prepayment. If the Group Borrower is obliged to repay all loans or cancel all commitments under the Group Loan Agreement according to Mandatory Prepayment under clause 8 of the Group Loan Agreement, the Lender has the right (but no obligation) to notify the Borrower of its prepayment requests, and the Borrower shall repay all outstanding Loan plus accrued interest on the date specified in the notice from the Lender to the Borrower, and the portion of undrawn Commitment shall be immediately cancelled.
Other Mandatory Prepayment. Notwithstanding anything to the contrary contained in this Agreement, if the market value of the Vessel evaluated by the Approved Shipbrokers (i) falls below one hundred and ten per cent (110%) of the Loan at any time in year one (1) to two (2) after the Drawdown Date; (ii) falls below one hundred and twenty per cent (120%) of the Loan at any time in year three (3) to four (4) after the Drawdown Date; (iii) falls below one hundred and twenty five per cent (125%) of the Loan at any time after year four (4) after the Drawdown Date, then the Borrower shall ,at the request of the Lender and unless otherwise agreed with the Lender within thirty (30) days after being notified in writing by the Lender, either:
(a) repay or pay to the Lender the Loan Balance in part or in full, together with (i) interest accrued on the Loan Balance to such prepayment date, (ii) all other sums which shall have become due on or prior to the date of such prepayment and (iii) any actual loss, liability, cost, claim, expense, proceeding or demand which the Lender suffers due to the above (a) or (b); or
(b) provide with the Lender an additional security (including cash collateral comprised of United States Dollars) in favour of the Lender in a form and content satisfactory to the Lender.
Other Mandatory Prepayment. Each Borrower shall, in the event of any voluntary or mandatory prepayment to be made under any Financial Indebtedness which constitutes Permitted Indebtedness under paragraphs (m), (n) and (o) of such definition, promptly notify the Agent upon becoming aware of that event and prepay Loans outstanding under this Agreement (including Letters of Credit and Bank Guarantees) in a PRO RATA amount at the same time as such other prepayment is made.
Other Mandatory Prepayment. The Company shall prepay the entire amount due hereunder, plus accrued interest to the date of redemption of the Bonds to be made from such prepayment, within forty-five (45) days after the failure of the Company to deliver to the Trustee the opinion of Bond Counsel described in Section 2.3(1) of the Indenture.